- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-06-12T01:46:00
The chair of the Public Company Accounting Oversight Board (PCAOB) was reappointed to a second term after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Erica Williams’ new term will run through October 2029, the Securities and Exchange Commission (SEC) announced Tuesday. The SEC oversees the PCAOB.
Williams was named PCAOB chair in November 2021 as part of a full board overhaul. Her initial term was set to expire in October.
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Audit firm MaloneBailey agreed to pay a $400,000 fine to settle allegations levied by the Public Company Accounting Oversight Board over “pervasive” quality control violations.
The Public Company Accounting Oversight Board adopted two new standards that address key audit areas upon which it was relying on benchmarks established more than 20 years ago.
KPMG Netherlands agreed to pay a record $25 million penalty levied by the U.S. Public Company Accounting Oversight Board for allegedly allowing widespread cheating by employees on internal training exams and misinforming regulators about the misconduct.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.
