SEC Suspends Accountants for Deficient Audits of Public Companies

The SEC suspended five accountants and two audit firms from practicing or appearing before the SEC because they (i) provided deficient audits of public companies, (ii) jeopardized the independence of other audits and (iii) falsified and backdated audit documents. In addition, they are collectively paying penalties and disgorgement totaling more than $100,000 to settle the SEC's charges.