PCAOB Chairman James Doty shot the breeze with the SEC for awhile today, speaking about, among other things, how the Board would handle this boatload of Chinese filers who don't seem to know their asses from their elbows when it comes to accounting and their auditors who are similarly clueless. Doty assured the Commission that a meeting with the Chinese could happen at any moment and that seemed to be good enough for everyone, as the Board's new budget was approved unanimously. Of the $23 million in extra funds, Reuters reports, "Much […] will go toward expanding the PCAOB's inspections program so it can increase the number of international inspections it performs," which should go a long way in finding countries more likely to play ball with the inspection process. [Reuters]
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Fresh off the PCAOB’s published naughty list, BDO USA and partners Kevin Olvera and Michael Musick got sent to the punishment corner for violations of PCAOB rules and audit standards in connection with the audit of AAC Holdings, Inc. (“AAC”) for 2017. Specifically, audit partner Olvera failed to properly evaluate three significant estimates that AAC […]
A few days ago the paper-pushers at the PCAOB released 15 new inspection reports and three expanded reports for the following firms: Inspection reports De Visser Gray LLP (Canada) Ernst & Young Limited Corp. (Panama) Frost, PLLC Harbourside CPA LLP (Canada) Keith K Zhen CPA Maggart & Associates, P.C Miller Wachman LLP PBMares, LLP PKF […]