- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-08-14T18:02:00
The U.K. arm of audit firm Crowe agreed to pay $750,000 as part of a settlement with the Securities and Exchange Commission (SEC) for alleged professional care and skepticism failures regarding its 2018 audit of music streaming subscription company Akazoo.
Akazoo reached a $38.8 million settlement with the SEC in October 2021 for allegedly defrauding investors out of tens of millions of dollars related to its 2019 special purpose acquisition company merger. That merger was informed by the 2018 audit, which the SEC faulted Crowe U.K. for not conducting in line with Public Company Accounting Oversight Board (PCAOB) standards.
The SEC on Monday also announced settlments with Crowe U.K. Chief Executive Nigel Bostock, the engagement partner for the Akazoo audit, for $25,000 and Matthew Stallabrass, the engagement quality reviewer for the audit, for $10,000 regarding their alleged failures.
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2023-01-27T16:11:00Z By Kyle Brasseur
The Public Company Accounting Oversight Board’s latest batch of 2021 audit inspection reports included a setback in results for Marcum largely related to the firm’s work dealing with special purpose acquisition companies.
2021-10-28T18:02:00Z By Jaclyn Jaeger
Akazoo, a music streaming subscription company based in Greece, reached a $38.8 million settlement with the SEC for allegedly defrauding investors out of tens of millions of dollars related to a 2019 SPAC merger.
2021-10-04T17:02:00Z By Kyle Brasseur
The U.K. Financial Reporting Council announced the start of an investigation into audit firm Crowe UK concerning the financial statements of Luxembourg-incorporated on-demand music streaming subscription company Akazoo.
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The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
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The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
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The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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