All Academics Updates

The PCAOB has imposed $2 million in fines on Deloitte Indonesia and Deloitte Philippines and barred Deloitte Philippines’ former National Professional Practice Director.

The PCAOB has imposed a record $25 million fine on KPMG Netherlands and permanently barred its former Head of Assurance.

Read Chair Williams’ remarks from press conference announcing $25 million fine on KPMG Netherlands and $2 million in fines against Deloitte Indonesia and Deloitte Philippines.

The PCAOB has issued two proposals to (1) standardize disclosure of firm and engagement metrics and (2) modernize the PCAOB’s reporting framework.

The PCAOB has sanctioned a Singapore firm for quality control violations.

The PCAOB will hold an open meeting on Apr. 9, 2024, to consider proposals regarding (1) firm and engagement metrics and (2) firm reporting.

The PCAOB has sanctioned five firms for violations related to audit documentation and disclosure of who worked on audits.

The PCAOB has fined PwC $2.75 million for quality control violations relating to independence.

The PCAOB has sanctioned PwC Australia for violations related to reporting and quality control monitoring requirements.

The PCAOB’s Office of the Investor Advocate marks a first year of progress and accomplishment.

Information for Investors

Investor Bulletin: Commemorating the PCAOB’s Office of the Investor Advocate’s One-Year Anniversary

Information for Investors

The PCAOB has sanctioned three partners of KPMG’s China affiliate for violations of audit standards.

The PCAOB has sanctioned Halperin Ilanit CPA and its owner and only partner for violations of PCAOB rules and standards in multiple issuer audits.

Investor Bulletin: Opportunity To Comment on Proposal To Protect Investors From False or Misleading Statements About PCAOB Registration and Oversight

Information for Investors

The PCAOB has sanctioned Gries & Associates for deficient audit work that preceded multiple financial restatements.

The PCAOB announced the participants taking part in its March 6, 2024, public virtual roundtable regarding the PCAOB’s proposal on noncompliance with laws and regulations. The proposal’s comment period is also reopened through March 18, 2024.

A PCAOB rule proposal would prohibit auditors from making false or misleading statements about PCAOB registration and oversight.

On March 6, 2024, PCAOB staff will host a public virtual roundtable regarding the PCAOB’s proposal on noncompliance with laws and regulations. The proposal’s comment period has been reopened through March 18, 2024.

The PCAOB will hold an open meeting on Feb. 27, 2024, to consider a proposed rule that would prohibit auditors from making false or misleading statements about PCAOB registration and oversight.

Imposing $2 million in fines, PCAOB sanctions WithumSmith+Brown, PC for pervasive quality control violations involving SPAC audits.