The Public Company Accounting Oversight Board (PCAOB) has announced settled disciplinary orders sanctioning two audit firms. One is for violating PCAOB rules and auditing standards related to the timely assembly of a complete and accurate record of the work the firm performed, the other for failing to report key information
PCAOB dings two firms for violations related to audit recordkeeping and disclosure
Failure to document and disclose work leads to fines totalling $50,000.