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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInTether Says Audit Is Still Months Away as Crypto Market Falters – WSJ
This year’s slump in digital assets is pressuring crypto companies to show investors that their money is safe. So far, they haven’t delivered. Many crypto companies lack the basic financial guardrails that help protect investors in traditional banks. Firms often don’t publish financial statements, or have anyone check their books. Even if they are audited, […]
Statement on Agreement Governing Inspections and Investigations of Audit Firms Based in China and Hong Kong
This agreement announced today brings specificity and accountability to effectuate Congress’s intent. It provides the standards against which to judge whether auditors of Chinese issuers have complied with the requirements of U.S. law, including PCAOB auditing standards. I thank Congress for their attention to these important matters. In particular, Chinese authorities have committed to four […]
KPMG to Pay as Much as $50 Million to Settle SEC Probe – WSJ
KPMG LLP is preparing to pay as much as $50 million to settle civil claims related to the conduct of former partners who learned which of their audits would be subject to surprise regulatory examinations, according to people familiar with the matter. The fine would be one of the highest ever imposed on an auditor […]