News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-09-14T16:32:00
Canadian public accounting firm Hay & Watson had its registration permanently revoked and must jointly pay a fine of $50,000 along with its owner for violating Public Company Accounting Oversight Board (PCAOB) rules and standards and failing to cooperate with an inspection.
The Vancouver-based firm and its owner/managing partner, Essop Mia, were each censured as part of the PCAOB’s settled disciplinary order published Tuesday. Mia was further barred from being associated with a registered public accounting firm without the possibility of reinstatement.
During a 2019 audit of a public company, Hay & Watson failed to assemble a final set of documentation for the audit, a violation of applicable auditing standards, the PCAOB said. Mia then directed his staff to improperly alter, add to, and backdate work papers “months after the deadline for assembling a complete and final set of audit documentation and shortly before a board inspection. Mia and the firm violated PCAOB rules by providing these altered work papers to the board’s inspectors without disclosing that they had been altered,” the organization said in a press release.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
2022-12-27T18:13:00Z By Kyle Brasseur
The Public Company Accounting Oversight Board announced several notable enforcement actions last week, including sanctions against six firms for allegedly violating agency reporting requirements.
2022-10-18T19:39:00Z By Kyle Brasseur
Jonathan Taylor, an audit partner at accounting firm Spielman Koenigsberg & Parker, agreed to pay a record $150,000 fine handed down by the Public Company Accounting Oversight Board for misleading its investigators over the course of multiple inspections.
2024-07-26T19:49:00Z By Aaron Nicodemus
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
Site powered by Webvision Cloud