The SEC was sanctioned for presenting false and misleading evidence in obtaining a temporary restraining order and asset freeze against a crypto firm. Judge Robert J. Shelby delivered the ruling, calling the SEC's actions toward the crypto firm a "gross abuse of power."
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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.
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 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.
The Public Company Accounting Oversight Board sanctioned four audit firms for failure to make certain required communications to issuer audit committees.