Grant Thornton UK was assessed a penalty of £40,000 (U.S. $51,000) by the Financial Reporting Council for alleged procedure failures affecting the firm’s audit of a local authority’s pension fund.
Accounting & Auditing
Posted inAccounting & Auditing
Legal pushback prompts SEC to stay climate-related disclosure rule
The Securities and Exchange Commission delayed implementation of its climate-related disclosure rule until the courts can rule on appeals filed in response to the controversial policy.
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Ebix: SEC probe into short seller claims closed
Ebix announced the Securities and Exchange Commission closed an investigation into allegations against the software company’s accounting practices raised in a short seller report.
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PwC fined $2.75M by PCAOB for independence process breakdowns
Big Four audit firm PwC was assessed a $2.75 million penalty by the Public Company Accounting Oversight Board for failures in its auditor independence processes related to a 2018 engagement.
Posted inAccounting & Auditing
Chemours: DOJ, SEC probing exec accounting misconduct
Chemours disclosed it received requests for information from the Department of Justice and Securities and Exchange Commission regarding findings from an internal review into alleged accounting misconduct by several of its top executives.
Posted inAccounting & Auditing
NAVEX whistleblower report finds third parties lead on business integrity
A new report on corporate whistleblowing and hotline trends in 2023 found reporting volume at an all-time high, with key disparities uncovered between reports filed by third parties and those filed by employees.
Posted inAccounting & Auditing
Equinix probing short seller accusations amid DOJ scrutiny
Data center owner Equinix disclosed it launched an independent investigation to review matters referenced in a recent short seller report that also caught the attention of the Department of Justice.
Posted inAccounting & Auditing
PCAOB fines KPMG China partners combined $150K over audit violations
The Public Company Accounting Oversight Board imposed collective fines totaling $150,000 against three partners at KPMG China for violations of standards related to their audit work at education service provider Tarena International.
Posted inAccounting & Auditing
Short seller accuses Equinix of ‘selling AI pipe dream,’ accounting manipulation
Data center owner Equinix boasts artificial intelligence as a boon to business when power consumption costs related to implementing AI could be detrimental to its profitability, according to short seller Hindenburg Research.
Posted inAccounting & Auditing
Ex-Stericycle finance director charged for bribery scheme role
A former finance director at medical waste disposal company Stericycle faces Department of Justice charges for his alleged role in a bribery scheme that led the company to an $84 million settlement regarding violations of the Foreign Corrupt Practices Act.
