Thank you.
Let me come back to the question that was just raised.
If I'm not mistaken, the penalties in Quebec are 30%, while the Canada Revenue Agency imposes 0% penalties for voluntary disclosures. If we take the KPMG case in the U.S., the penalty was 50%, plus criminal prosecution, among other things.
So we can build on that, Ms. Dzerowicz.
My next question is for Mr. Lareau and Mr. Vaillancourt, but the CPA Canada representatives may also intervene.
In the Cinar, Norshield and Mount Real affair involving their executives, including Mr. Weinberg, thousands of small investors were cheated. I was very touched by the testimony of Ms. Watson, one of these defrauded investors, who came to testify before the committee. What has happened is appalling. Nearly $500 million has disappeared, most of it unaccounted for.
What can we do? What can the government do? What can the minister do? What needs to change so that situations like this do not happen again and we are able to find and get the money back?
The companies with the sword names are related to this. The CBC/Radio‑Canada reports make a very compelling case that KPMG is connected to these companies, because KPMG had a shell company registered at the same time that these four companies were registered. KPMG tells us that this is not the case. We have asked its representatives and they have written to us saying that they have examined their documents going back ten years. They stand by their denial.
What can be done to get justice in such a case and to ensure that it never happens again?
Mr. Lareau, I would like to have your comments first.