U.S. SEC Sanctions KPMG, Deloitte Over Poor Audit

(This page may contain affiliate links. Read my full disclosure.)

The top U.S. securities regulator on Tuesday charged foreign affiliates of three major accounting firms – KPMG, Deloitte & Touche and BDO – for conducting audits without proper oversight from the Public Company Accounting Oversight Board.

READ ALSO: Trump Blocks Broadcom Takeover Of Qualcom Over Fears Of Chinese Dominance

The Securities and Exchange Commission said that the firms agreed to settle the charges by paying penalties and disgorging profits from the audits.

None of the affiliates, in Canada, South Africa and Zimbabwe, admitted or denied the findings that included failing to register with the PCAOB and relying on unregistered auditors to complete the work.

Rayo
Hi! You are welcome to my Blog where I dish out daily news ranging from politics, celebrity gist and gossip, health and fashion tips and lots more that you'd get to find out when you stick with me.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.