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.
2023-11-15T22:18:00Z By Kyle Brasseur
The Japanese affiliate of Big Four audit firm KPMG was assessed a $500,000 penalty by the Public Company Accounting Oversight Board for quality control deficiencies regarding journal entry testing.
2023-08-18T18:41:00Z By Jeff Dale
The Public Company Accounting Oversight Board fined Colorado-based audit firm AJ Robbins CPA and its founding partner a total of $150,000 for alleged professional skepticism failures and improperly altering audit documentation.
2023-08-09T19:29:00Z By Kyle Brasseur
The Public Company Accounting Oversight Board announced a $125,000 penalty against India-based audit firm K G Somani & Co. for alleged violations of quality control standards.
2025-07-31T18:47:00Z By Adrianne Appel
More than 50 people and 50 ships connected to a top Iranian official were added to the U.S. Treasury’s sanctions list on Wednesday, according to the Office of Foreign Assets Control.
2025-07-31T16:44:00Z By Adrianne Appel
Kentucky took aim at Chinese company Temu, alleging in a lawsuit that it counterfeited popular Kentucky-designed merchandise and violated customers’ privacy.
2025-07-30T17:56:00Z By Aly McDevitt
The Department of Labor is using poultry processing company Mar-Jac Poultry as an example of what will happen when companies repeatedly employ underage workers in hazardous conditions. Hint: Companies can’t pin the blame on staffing agencies.
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