The Globe and Mail reports in its Wednesday edition that Ontario's accounting industry regulator has ruled that two partners at Deloitte LLP committed professional misconduct by failing to address allegations of fraud at Bondfield Construction Co. Ltd., once one of the biggest public sector builders in the province. In a Globe special, Karen Howlett writes that the Chartered Professional Accountants of Ontario pursued misconduct allegations against Felice Iorio and Steve Kostich for their work when the firm acted as Bondfield's auditor on its 2013 to 2016 financial statements and has ordered them to pay a combined total in fines and costs of more than $800,000. Bondfield sought court protection from creditors in April, 2019, and its former president was convicted of fraud late last year over allegations of favouritism and undisclosed conflicts of interest in the redevelopment of St. Michael's Hospital in Toronto. CPA Ontario found that Mr. Iorio and Mr. Kostich ignored "numerous red flags" while auditing Bondfield. Last month, the Ontario Securities Commission's enforcement arm accused another one of the country's top accounting firms, KPMG LLP, of failing to properly audit the defunct private lender Bridging Finance.