Mr. Wong was employed as the registrar for the College of Traditional Chinese Medicine Practitioners and Acupuncturists
Question:
Mr. Wong was employed as the registrar for the College of Traditional Chinese Medicine Practitioners and Acupuncturists of British Columbia, an organization and position established pursuant to the statute in British Columbia. He had been hired to implement an accounting system and an audit determined that he failed to do so. He had also failed to record any of the financial transactions in the previous year. An accounting firm was hired to prepare financial statements as required by the by-laws and to investigate. The firm prepared a report showing that Wong had committed several irregularities including improper overtime pay and expenses and diversion of property belonging to the college. Mr. Wong was not shown the report; rather the board sent him a letter terminating his employment. His solicitor sent a letter wishing to initiate negotiations, which was ignored. Explain any basis Mr. Wong might have to challenge the decision. Explain the likely outcome. Would it make any difference to your answer to know that the findings of misconduct in the report were accurate?
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer: