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.
2025-08-25T20:49:00Z By Adrianne Appel
JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says. An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former ...
2025-08-25T18:24:00Z By Adrianne Appel
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
2025-08-25T15:51:00Z By Adrianne Appel
The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
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