Canada is known to be the weakest G20 country on enforcement and Alberta has the worst securities enforcement track record.
For those who think things have changed and enforcement is a priority .....welcome to my reality:
1. CBC is a crown corporation .....but won't give its owner the government a list of who does not pay their taxes in Canada or hides money
2. Even when we get a list "probably good enough for an investigation or prosecution"....we don't prosecute
Have the auditors been named in any of the class action suits vis a vis the revenue misstatement? No but fingering pointing in their CCAA hints a few third party involvement. As for the Classaction against a company in CCAA not their auditor.... not so fruitful http://www.westlawcanada.com/DynamicData/AttachedDocs/litigator/CI_CLSACTNWS_1-14-13_0947.pdf
In closing, those who think ASC are getting serious about enforcement ...just look at how much this fraud paid in taxes and you will comprehend why enforcement is underfunded and over rated to the point ASC just lost a material fact insider selling case....which is much easier than an inflate your book or asset cause