The Public Company Accounting Oversight Board sanctioned three partners of a China-based audit firm for audit failures that preceded a significant restatement of a company's reported revenue and net accounts receivable.
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The Public Company Accounting Oversight Board sanctioned an audit firm and its owner for multiple violations of PCAOB rules and standards related to inadequate audit evidence, failure in engagement quality reviews and non-compliance with reporting requirements and quality control standards.
The Public Company Accounting Oversight Board sanctioned four audit firms for failure to make certain required communications to issuer audit committees.
The Public Company Accounting Oversight Board sanctioned an audit firm for quality control failures after it accepted a substantial number of new SPACs as audit clients.
The PCAOB found that there is a need for significant improvement in the quality of broker-dealer "audits and attestation engagements."