- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-10-25T13:58:00
Canada-based accounting firm Smythe agreed to pay a $175,000 penalty in settling with the Public Company Accounting Oversight Board (PCAOB) regarding its use of unregistered firms across four issuer audits.
Smythe overrelied on the work of PKF Audisur and PwC Malta in violation of PCAOB rules, the agency said in a press release Tuesday. The PCAOB required Smythe to review and evaluate its quality control policies and procedures, among its remedial mandates.
Smythe used the work of PKF Audisur on its audits of the fiscal year 2020 and 2021 financial statements of wireless infrastructure company Tower One and the work of PwC Malta on its audits of the FY2020-21 financials of merchant bank Scully.
2023-11-14T21:22:00Z By Kyle Brasseur
The Greece-based branch of Big Four audit firm PwC agreed to pay $3 million as part of a settlement with the Public Company Accounting Oversight Board addressing alleged failures in due professional care and appropriate skepticism regarding an audit of a marine fuel logistics company.
2023-03-28T13:19:00Z By Kyle Brasseur
Friedman agreed to pay a $100,000 penalty to settle charges by the Public Company Accounting Oversight Board it over-relied on the work of unregistered Chinese firms across 12 public company audits.
2022-10-19T20:39:00Z By Kyle Brasseur
Three affiliates of KPMG agreed to pay a total of $275,000 in penalties for failing to disclose unregistered firm participation in public company audits—the latest such PCAOB enforcement cases for the global accounting firm.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
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