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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2024-03-21T17:50:00
The Public Company Accounting Oversight Board (PCAOB) imposed collective fines totaling $150,000 against three partners at KPMG China for violations of standards related to their audit work at education service provider Tarena International.
Choi Chung Chuen, Ma Hong Chao, and Dong Chang Ling agreed to be censured and pay penalties of $75,000, $50,000, and $25,000, respectively, the PCAOB announced in a press release Wednesday.
Choi and Ma will be barred from working at a registered public accounting firm for a year, at which point they can petition the board to return after completing continuing professional education. Dong will be limited from acting in certain roles on issuer audits for a year and be required to complete continuing professional education.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-09-16T19:45:00Z By Aaron Nicodemus
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
2024-03-29T15:39:00Z By Kyle Brasseur
Big Four audit firm PwC was assessed a $2.75 million penalty by the Public Company Accounting Oversight Board for failures in its auditor independence processes related to a 2018 engagement.
2024-02-07T12:51:00Z By Kyle Brasseur
China-based technology company Cloopen Group Holding won’t pay a fine in settling with the Securities and Exchange Commission over an alleged accounting fraud scheme perpetrated by two of its former senior managers.
2024-10-22T21:18:00Z By Adrianne Appel
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
2024-10-22T16:08:00Z By Aaron Nicodemus
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
2024-10-18T18:10:00Z By Adrianne Appel
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control (OFAC) that its business with North Korea involved U.S. financial institutions.
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