Audit firm CohnReznick agreed to pay a $20,000 fine levied by the Public Company Accounting Oversight Board (PCAOB) for allegedly disclosing late a penalty it received from the Securities and Exchange Commission (SEC).
The firm was required to notify the PCAOB within 30 days of the $1.9 million settlement it reached with the SEC in June 2022 regarding alleged improper conduct during the course of two client audits in 2017; instead, it disclosed the event in December. CohnReznick was also faulted for not timely disclosing to the PCAOB three of its partners were penalized by the SEC as well.
