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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-05-15T18:52:00
Staff at the Securities and Exchange Commission (SEC) have observed instances of audit firms setting poor examples for junior-level employees by failing to properly discipline senior leaders found to have breached ethical standards, according to the agency’s chief accountant.
Paul Munter issued a statement Wednesday in which he questioned the tone audit firms set by failing to hold accountable the individuals who remain in positions of firm leadership following discipline imposed by a regulatory agency.
“What message does it send to the accounting profession and firm staff, particularly less-experienced staff and staff in service lines other than audit?” he asked. “Does it teach them that skirting the rules is acceptable, as long as you don’t get caught?”
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
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Our lowest price ($1 per day) for one year.
2024-06-03T17:35:00Z By Kyle Brasseur
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
2024-05-16T13:43:00Z By Kyle Brasseur
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
2024-05-03T14:27:00Z By Kyle Brasseur
BF Borgers was all but shuttered by the Securities and Exchange Commission after the agency accused the firm of massive fraud impacting more than 1,500 SEC filings audited over a 2 1/2-year span.
2024-06-12T01:46:00Z By Kyle Brasseur
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
2024-05-24T16:27:00Z By Jeff Dale
Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.
2024-05-14T15:30:00Z By Kyle Brasseur
The Public Company Accounting Oversight Board adopted two new standards that address key audit areas upon which it was relying on benchmarks established more than 20 years ago.
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