Audit regulators have delivered an enforcement action to a former partner and current partner at Grant Thornton over an audit dating back to 2013.
The Public Company Accounting Oversight Board censured and imposed suspensions on Richard Huff, the engagement partner over the blown audit of a real investment investment trust, and Wayne Kaplan, the engagement quality reviewer. The PCAOB says Huff was already under a partner performance plan at Grant Thornton when an internal review revealed numerous audit lapses in the REIT’s 2012 year-end audit, before field work had begun for the 2013 audit.
