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 2008 audits of Koss Corporation. Koss’s former VP-Finance embezzled millions through unauthroized wire transfers and cashier’s checks to pay for personal expenses. It is significant to note that the Board reversed the initial decision of the hearing officer dismissing the charges on the basis that the Division of Enforcement and Investigations had not “established a legally cognizable basis” for imposing sanctions on Koeppel because it had not charged Koeppel for failing to plan, delegate, or supervise the audit work under the applicable auditing standard at the time, AU Section 311. The Board found that Koeppel violated PCAOB rules and auditing standards by failing to exercise due professional care, including professional skepticism, and failing to obtain sufficient audit evidence, among other violations.
About Briglia Hundley®
Briglia Hundley® was founded in 1993 and practices throughout the mid-Atlantic region. Our practice features attorneys listed as “Legal Elite” by Virginia Business magazine, named to Super Lawyers, and listed in Best Lawyers.
We are a forward-thinking law firm that relies upon our experienced and energetic attorneys to meet the legal needs of our clients reliably and responsibly in Virginia, Maryland, and the District of Columbia.
Briglia Hundley represents individuals and corporations throughout the Mid-Atlantic region, including Alexandria, Annandale, Arlington County, Ashburn, Burke, Centreville, Chantilly, Clifton, District of Columbia, Dulles, Fairfax County, Falls Church, Great Falls, Herndon, Leesburg, Loudoun County, Manassas, Manassas Park, McLean, Middleburg, Montgomery County, Oakton, Prince George’s County, Prince William County, Reston, South Riding, Springfield, Sterling, Tysons Corner, Vienna, Winchester and Woodbridge.
