Spicer Jeffries avoids fine in improper audit conduct case
By 
Kyle Brasseur2023-03-30T17:13:00
A Colorado-based audit firm and one of its engagement partners were spared financial penalties in settling with the Securities and Exchange Commission (SEC) over allegations of improper professional conduct during the audits of two private funds.
Spicer Jeffries agreed to be censured and retain an independent consultant to review certain of its policies and procedures as part of its settlement with the SEC announced Wednesday. Engagement partner Sean Tafaro received a one-year suspension from appearing and practicing before the agency as an accountant.
In 2019, Spicer Jeffries and Tafaro allegedly failed to do the following in their work at the two private funds:
Related articles
-
News BriefFriedman latest fined in PCAOB crackdown on unregistered auditor use
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.
-
News BriefDXC Technology fined $8M over non-GAAP disclosures
IT services provider DXC Technology Company agreed to pay an $8 million penalty to settle Securities and Exchange Commission charges it made material misstatements regarding its non-GAAP disclosures over a two-year period.
-
News Brief
Evoqua Water Technologies to pay $8.5M for alleged revenue inflation
Evoqua Water Technologies Corp. agreed to pay $8.5 million to resolve charges the actions of a former company finance director led the firm to misstate its revenue in filings with the Securities and Exchange Commission.
More from Regulatory Enforcement
-
News BriefSEC reportedly investigating MassMutual’s accounting amid ongoing government shutdown
Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
-
News BriefAMLA: What difference will the agency make in the EU’s fight against moneylaundering?
Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
-
ArticleFormer startup CEO gets 7 years in prison for $175M fraud against JPMorgan Chase
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.