September 16, 2019

bad auditing

KPMG Appeals One-Year Auditing Suspension In Oman, Loses

KPMG couldn’t talk its way out of trouble, as an independent appellate court in Oman recently upheld a securities regulator’s ruling last November that prohibits the firm from taking on any new auditing clients for one year. In a statement on March 3, the Capital Market Authority of the Sultanate of Oman said: “Capital Market […]

KPMG Gets One-Year Auditing Ban in Oman

2018 has been a no-good, rotten year for KPMG. The firm has been embroiled in accounting scandals in the United States and South Africa, was told by the United Kingdom’s accounting regulator that its audit quality sucks, defended an indefensible audit of the now-collapsed Carillion in the U.K., was fined £4.5 million in the U.K. […]

BDO

Three Ex-BDO USA Accountants Will Be Sitting on the Sidelines For a While Due to Really Bad Auditing Decisions

Coming off the heels of a horrible Public Company Accounting Oversight Board inspection report, in which 16 of 24 audits inspected in 2016 were found to have deficiencies, BDO USA is again in the news for all the wrong reasons. Three former BDO accountants were suspended by the Securities and Exchange Commission on Oct. 12 […]

Judge Allows Class-Action Suit to Proceed Against KPMG Over Shoddy Miller Energy Audit

A federal judge in Tennessee on Aug. 2 declined to throw out a securities class-action lawsuit against KPMG, in which investors are accusing the Big 4 firm of screwing up the audit of now-defunct oil and gas company Miller Energy Resources Inc. In Lewis Cosby et al. v. KPMG L.L.P., the investors say they got […]

The Numbers Literally Didn’t Add Up In This Latest Case of Atrocious Auditing

On Friday we discussed a Florida CPA's bad auditing. Later that same day, the SEC issued a press release that told us about more bad auditing and I think you'll appreciate just how bad it is, so I'll share this one, too. This time around, we have a scam run by a Canadian lawyer and […]