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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-09-26T22:02:00
BDO was assessed a $2 million penalty as part of a settlement with the Public Company Accounting Oversight Board (PCAOB) addressing alleged failures in the firm’s audit work at defunct healthcare services provider AAC Holdings.
The PCAOB also disciplined two BDO partners regarding the matter, which was announced in a press release Tuesday.
The penalties related to violations of PCAOB rules and audit standards during the firm’s 2017 audit at AAC.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
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.
2023-10-16T14:29:00Z By Kyle Brasseur
A new staff report issued by the Public Company Accounting Oversight Board seeks to provide best practices for auditors amid observations of rising deficiency rates related to engagement quality reviews.
2023-09-29T21:45:00Z By Adrianne Appel
Accounting firm Prager Metis violated auditor independence rules through use of indemnification provisions in its engagement letters hundreds of times during a period of nearly three years, the Securities and Exchange Commission charged in a lawsuit.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
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