By Adrianne Appel2024-09-26T16:13:00
The Public Company Accounting Oversight Board (PCAOB) fined five consultancies, including Ernst & Young (EY), as the agency continues its crackdown on firms violating audit committee communications rules and reporting requirements.
Public company auditors are required to provide certain reports to their audit committees but four firms failed to do so, the PCAOB said in a press release Tuesday. The agency began shining a light on audit committee communications in July 2023, and has now sanctioned a total of 17 firms.
The firms in the recent sweep agreed to take steps to come into compliance with PCAOB rules and pay the following penalties:
2024-05-23T16:35:00Z By Jeff Dale
Audit firm MaloneBailey agreed to pay a $400,000 fine to settle allegations levied by the Public Company Accounting Oversight Board over “pervasive” quality control violations.
2024-05-15T18:52:00Z By Kyle Brasseur
Staff at the Securities and Exchange Commission have observed instances of audit firms setting poor examples for junior-level employees by failing to properly discipline senior leaders found to have breached ethical standards, according to Chief Accountant Paul Munter.
2024-05-03T14:27:00Z By Kyle Brasseur
BF Borgers was all but shuttered by the Securities and Exchange Commission after the agency accused the firm of massive fraud impacting more than 1,500 SEC filings audited over a 2 1/2-year span.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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