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.
2025-09-05T18:10:00Z By Aaron Nicodemus
Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
2025-09-04T17:31:00Z By Adrianne Appel
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.
2025-09-03T17:43:00Z By Adrianne Appel
The Federal Trade Commission (FTC) proposed an enforcement action against Disney for allegedly collecting personal information about children, and then threw salt in the wound by calling the company out in an alert emailed to an untold number of businesses.
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