Marcum Took On Too Many Clients and Totally Wrecked Their Quality Control, Says the PCAOB in Disciplinary Order
About an hour ago the Public Company Accounting Oversight Board (PCAOB) announced a settled disciplinary order [PDF] sanctioning Marcum for violations of PCAOB rules and quality control standards. This order imposes a $3 million civil penalty against the firm, this is on top of a $10 million penalty from SEC proceedings around the same conduct. […]
The PCAOB’s Disciplinary Action Against Deloitte Is the Latest Embarrassment for the Auditing Profession
Late yesterday we learned about the latest wrist slap coming from the PCAOB for an audit firm. Deloitte was fined $2 million for allowing a suspended partner, Christopher Anderson, "to become an 'associated person' of Deloitte during the period of the suspension." I could go on but it's quite simple: there's nothing to like about this […]
Ex-Deloitte Partner Learns That Procrastination Has Its Consequences
All humans procrastinate from time to time. Whether it's putting off washing the car or feeding the kids, we simply can't get to everything. I mean, who can? As indentured servants to the capital markets, you are all too familiar with this dilemma. The to-do list grows long quite quickly and it's difficult to prioritize. […]