- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-09-27T20:21:00
A Colombian affiliate of Big Four audit firm Deloitte agreed to pay $900,000 as part of a settlement with the Public Company Accounting Oversight Board (PCAOB) addressing alleged quality control lapses that occurred during the 2016 audit of a bank.
Deloitte Colombia’s quality control system failed to provide it with reasonable assurance for its audit work’s compliance with PCAOB standards and the independence of its personnel, the regulator said in a press release Wednesday.
Regarding Deloitte Colombia’s 2016 audit at Bancolombia, the lead partner and engagement team did not appropriately document necessary procedures and altered documentation after the audit report was issued, according to the PCAOB’s order.
2025-02-14T19:34:00Z By Aaron Nicodemus
A former Deloitte partner will pay $75,000 and be barred from working as a public company registered accountant for two years by the Public Company Accounting Oversight Board after violating audit standards during a 2016 audit.
2023-11-14T21:22:00Z By Kyle Brasseur
The Greece-based branch of Big Four audit firm PwC agreed to pay $3 million as part of a settlement with the Public Company Accounting Oversight Board addressing alleged failures in due professional care and appropriate skepticism regarding an audit of a marine fuel logistics company.
2023-10-02T20:26:00Z By Kyle Brasseur
The Public Company Accounting Oversight Board announced the adoption of a new standard regarding auditor use of confirmation that replaces the previous version that hadn’t been notably changed in more than 30 years.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
2025-06-16T18:04:00Z By Neil Hodge
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned ...
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