Accountant’s Liability

At the small firm level, the PCAOB continues to exercise its relatively new authority under Dodd-Frank to regulate auditors of broker-dealers. Most of the settled orders involving small firm auditors…

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…

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…

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…

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…

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.…

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…

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…