- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-10-15T21:03:00
The SEC has ousted Kathleen Hamm as a board member at the PCAOB, replacing her with White House aide Rebekah Goshorn Jurata. The swap, along with a whistleblower report, signal internal strife at the audit regulator.
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The PCAOB is accepting public comment on a potential approach to revising the board’s quality control standards in place since 2003 and outdated by modern technology.
The PCAOB, recently under fire for its lack of enforcement, has imposed sanctions on Deloitte Korea and BDO Mexico for altering audit documentation in anticipation of inspections.
A letter sent by two senators addressed to SEC Chairman Jay Clayton critiques the regulator’s oversight of the PCAOB as showing “questionable judgment and an alarming lack of transparency.”
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
