Audit regulators have sanctioned a Grant Thornton engagement partner and staff auditor for failing to flag questionable revenue recognition practices in the 2004 financial statements of a small technology company.
Partner Ray O. Westguard, 69, has been barred from being associated with a public accounting firm that is registered with the PCAOB to do public company audit work, though he can apply for reinstatement after two years. Staff Auditor Jennifer Nakao, 34, is suspended from being associated with a registered firm for one year.
