- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Tammy Whitehouse2019-06-19T19:33:00
After new allegations at KPMG of cheating on internal training tests, audit committees now have another area of questioning for their external auditors.
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The Public Company Accounting Oversight Board announced a $450,000 fine against KPMG’s Australian subsidiary to resolve allegations of widespread cheating on personnel training tests at the firm.
Former PCAOB Inspections Leader Jeffrey Wada was sentenced to nine months in prison for providing the confidential information central to the long-running KPMG inspections scandal.
Former KPMG partner David Britt pleaded guilty to one count of conspiracy to commit wire fraud as the fallout from the cheating scandal that has plagued the firm for nearly two years appears to be nearing its conclusion.
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.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
