PCAOB fines 4 firms for failing to identify who led, participated in audits
By 
Aaron Nicodemus2022-10-05T16:35:00
The Public Company Accounting Oversight Board (PCAOB) penalized four audit firms for failing to disclose who led specific audits for their firms and whether any other firms were involved in those audits.
The lapses were discovered by the PCAOB during a sweep, where the regulator collected information regarding potential violations from multiple firms at the same time. The PCAOB found the four firms failed to file Form AP within 35 days after the date an audit report is first included in a document filed with the Securities and Exchange Commission.
All four firms have since filed their Form APs, but only after the PCAOB took action, the regulator said Tuesday in a press release.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefDeloitte Colombia fined $900K by PCAOB for quality control violations
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 addressing alleged quality control lapses that occurred during the 2016 audit of a bank.
-
ArticlePCAOB enforcement roundup: Grant Thornton fined in disclosure crackdown
The Public Company Accounting Oversight Board announced several notable enforcement actions last week, including sanctions against six firms for allegedly violating agency reporting requirements.
-
ArticleSpielman Koenigsberg & Parker partner fined record $150K for misleading PCAOB
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.
More from Regulatory Enforcement
-
News BriefFTC sues Uber over deceptive subscriptions, a rare move for consumers by Trump officials
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
-
News BriefCFPB pullback signals further shift toward industry-friendly regulation
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.