- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-07-31T13:20:00
The Public Company Accounting Oversight Board (PCAOB) announced penalties against five firms for violations regarding communications with audit committees as part of its latest enforcement sweep.
Penalties against the firms ranged from $30,000-$50,000. Each firm consented to remedial measures in addition to being censured, the PCAOB announced in a press release Friday.
Three of the firms were fined for failing to obtain audit committee pre-approval in connection with providing audit and/or nonaudit services to issuer audit clients, according to the PCAOB. BPM received the largest penalty of the bunch at $50,000, while Plante & Moran and S. R. Snodgrass were fined $40,000 and $35,000, respectively.
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