Briglia Hundley Blog

Federal Appeals Court Rules That Accountant Has Right to Accounting Expert in PCAOB Interviews and Testimony

On March 23, 2018, the U.S. Court of Appeals for the D.C. Circuit held that the PCAOB infringed on a former EY partner’s right to counsel by unreasonably barring his accounting expert from an interview conducted by the Division of...

Supreme Court holds that state courts can continue to hear securities cases brought under federal law

20 Mar 2018

Robert Cox

Securities Enforcement and Litigation

Today, the U.S. Supreme Court ruled that state courts can continue to hear certain securities class actions brought under federal law. In Cyan, Inc. et al. v. Beaver County Employees Retirement Fund, the Supreme Court held that the Securities Litigation Uniform...

The PCAOB continues its focus on broker-dealer auditors

14 Mar 2018

Robert Cox

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 of broker-dealers have involved independence violations, violation of the cooling...

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

14 Mar 2018

Robert Cox

Accountant’s Liability

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...

Federal Appeals Court Rules That Accountant Has Right to Accounting Expert in PCAOB Interviews and Testimony

Supreme Court holds that state courts can continue to hear securities cases brought under federal law

The PCAOB continues its focus on broker-dealer auditors

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

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