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
-
ArticleTop Ethics and Compliance Failures of 2025
The 2025 year has been so rich with compliance stinkers, and rife with poor judgment, compliance missteps, outright malfeasance and greed, greed, greed, that it was almost impossible to choose just six epic compliance failures from this year’s massive poop pile.
-
ArticleFATF focus on criminal asset recovery points to a more investigatory role for compliance
Global organised crime is booming, and only 1 to 2 percent of the $4 trillion black economy is intercepted, according to figures from the Financial Action Task Force. Its new guidance suggests that countries should focus on rapid investigations, collaborative intelligence gathering, and confiscating the proceeds of criminal activity.
-
ArticleCrypto network Paxful will plead guilty to BSA violations, pay $4M fine, shut down
Paxful, a crypto peer-to-peer network, will plead guilty to multiple federal criminal charges related to violations of the Bank Secrecy Act (BSA), among others. The plea agreement follows years of scrutiny from regulators over anit-money laundering (AML) compliance failures.