Audit regulators have settled disciplinary actions with audit firm Marcum, an affiliated firm, and its former auditor independence leader over independence violations.
The Public Company Accounting Oversight Board says Marcum and Marcum Bernstein & Pinchuk racked up multiple auditor independence violations from 2012 to 2015 as two senior partners made public statements advocating investment in companies that were also audit clients. The PCAOB says it’s the first time the board has sanctioned a firm for publicly advocating its audit clients as investment opportunities.
