Briglia Hundley Blog

Audit regulators continue to focus on foreign affiliates of Global Network Firms and the work of outside auditors. On March 13, 2018, the SEC announced settlements with foreign affiliates of BDO Canada, KPMG, and Deloitte. KPMG’s affiliate in South Africa...

PCAOB rejects engagement partner’s attempt to limit audit role to planning and supervision

07 Mar 2018

Robert Cox

Accountant’s Liability

The PCAOB just made public its December 29, 2017 adjudicated disciplinary order imposing a two-year limitation on activities and censure on Melissa K. Koeppel, a Grant Thornton LLP partner who served as the engagement partner for the 2006, 2007, and...

Deloitte agrees to pay $149.5 million to settle Taylor Bean suit

28 Feb 2018

Robert Cox

Accountant’s Liability

On February 28, DOJ announced a $149.5 million settlement with Deloitte & Touche LLP to resolve potential False Claims Act liability arising from Deloitte’s role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. (TBW), a failed...

Six KPMG auditors and a PCAOB employee face criminal and civil charges for leak of confidential PCAOB information to KPMG

22 Jan 2018

Robert Cox

Accountant’s Liability

In April of 2017, the Wall Street Journal and other media outlets reported the terminations of six KPMG personnel, including the head of the audit practice, and the termination of a PCAOB employee due to the PCAOB employees’ leak of...

Hong Kong proposes legislation giving its Financial Reporting Council responsibility to investigate and discipline auditors

19 Jan 2018

Robert Cox

Accountant’s Liability

Interesting article in Accounting Today regarding proposed legislation to be introduced in Hong Kong’s Legislative Council on January 24 giving the Financial Reporting Council the responsibility to investigate and discipline auditors. It will also empower the FRC to oversee ethics and...

Supreme Court agrees to review constitutionality of SEC ALJs

12 Jan 2018

Robert Cox

Accountant’s Liability

Today, the Supreme Court agreed to consider whether the hiring of SEC Administrative Law Judges violates the appointments clause of the Constitution. The Supreme Court will resolve the split between the D.C. Circuit and the Tenth Circuit as to whether...

PwC liable for Taylor Bean fraud

02 Jan 2018

Robert Cox

Accountant’s Liability

A federal court recently issued a rare finding of liability against a Big Four auditor for professional malpractice. In a December 28, 2017 ruling, a federal district court judge found PwC was liable to the FDIC for professional negligence in...

Audit regulators continue to focus on foreign affiliates of Global Network Firms

PCAOB rejects engagement partner’s attempt to limit audit role to planning and supervision

Deloitte agrees to pay $149.5 million to settle Taylor Bean suit

Six KPMG auditors and a PCAOB employee face criminal and civil charges for leak of confidential PCAOB information to KPMG

Hong Kong proposes legislation giving its Financial Reporting Council responsibility to investigate and discipline auditors

Supreme Court agrees to review constitutionality of SEC ALJs

PwC liable for Taylor Bean fraud

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