The former vice chair of audit at KPMG during the Big Four firm’s infamous cheating scandal was fined a record $100,000 by the Public Company Accounting Oversight Board (PCAOB) on Tuesday for his supervision failures.
Scott Marcello was censured in addition to receiving the agency’s largest money penalty ever imposed on an individual in a settled case. The matter is the first in which the PCAOB has imposed sanctions for a failure reasonably to supervise, as authorized under Sarbanes-Oxley.
