Rash of cases prompts global standard setter for corporate audits to propose stricter oversight rules for auditors.
PwC affiliates in Hong Kong and China and another Chinese audit firm will pay fines in “first-ever” settlement actions brought by the PCAOB.
The firm’s systems were manually overridden by staff to change working paper sign-off dates in breach of rules.
The US Public Company Accounting Oversight Board (PCAOB) released settled disciplinary orders for a range of violations, imposing penalties totaling approximately $4m across nine different firms.
SEC sues accounting firm Prager Metis for alleged auditor independence violations related to a template it used when signing on clients.
Rule 3502 stipulates the liability of associated persons who contribute to a registered public accounting firm’s violations.
Former executive at audit firm charged for failing to deal with deficiencies in quality control systems.
Board chair Erica Y Williams calls findings of new report “absolutely unacceptable”.