sanctions

A Big 4 Firm Being Untruthful? You Don’t Say!

From the Financial Times yesterday: A senior KPMG partner advanced an “untruthful” defence at a disciplinary hearing into the accounting firm’s misconduct in the sale of bedmaker Silentnight to a private equity fund, a tribunal has found. The tribunal also found that KPMG and David Costley-Wood, the partner who led the Silentnight work, had failed […]

KPMG Just Missed Getting a Record-Setting Fine In the U.K. By *This* Much

When an independent disciplinary tribunal concluded in June that KPMG U.K. and one of the firm’s partners failed to comply with the fundamental principles of objectivity and integrity in their work on the sale of bed manufacturer Silentnight to U.S. private equity firm HIG Capital in 2011, the panel recommended KPMG be fined a record-setting […]

Grant Thornton Current and Former Partners Will Have a Seat In the PCAOB’s Penalty Box

The Public Company Accounting Oversight Board doled out suspensions to a current partner and a former partner at Grant Thornton on Feb. 26 for their roles in screwing up the 2013 audit of a real estate investment trust. Richard Huff Jr., CPA, was censured and given a one-year ban by the PCAOB. Huff was the […]

Pair of asses

Deloitte Mexico Auditors Attempt to Phone in Sloppy Audit Work, Fail

The PCAOB has barred, fined, and censured three Deloitte Mexico audit partners for their role in the absolute bamboozle of an audit on Prestaciones Finmart, a Mexican subsidiary of Texas-based EZCORP, Inc. Finmart accounted in FY 2013 and FY 2014 for approximately 21% and 26% of EZCORP’s consolidated assets and approximately 23% and 42% of […]

pwc legal us

PCAOB Sanctions Former PwC Brazil Partner for Lousy Auditing

You may have noticed, maybe not, but PwC is in the midst of a bad publicity streak. Last month, one partner screwed up the hand-off of the Best Picture envelope at the Oscars while the other partner froze. A few days later, federal agents raided Caterpillar’s headquarters over its offshore tax practices that PwC helped […]