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.
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A bipartisan group of U.S. Senators urged the FDIC to grant "fair consideration" of applications for deposit insurance made by industrial loan companies and voiced their opposition to regulatory actions that target lawful ILC applications.
The SEC charged a motor company for misleading investors about the company's plans to develop the first full-size electric pickup truck and separately charged the company's accounting firm for violating auditor independence rules.
An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
The Public Company Accounting Oversight Board sanctioned four audit firms for failure to make certain required communications to issuer audit committees.