facebook
twitter
rss
account
search
search
 

SEC charges three auditors with substandard work

Sept. 30, 2013 at 6:30 PM   |   Comments

WASHINGTON, Sept. 30 (UPI) -- Federal regulators said Monday they had charged an auditor from Pennsylvania and two from California with substandard work and breaking securities laws.

The Securities and Exchange Commission said they charged Malcolm Pollard of Erie, Pa., and Wilfred Hanson of Irvine, Calif., with numerous deficiencies in their auditing work, and each of the defendants had settled the actions against them with agreements to stop doing accounting work for any publicly traded company or for any firm regulated by the SEC.

The third auditor charged by the SEC, John Kinross-Kennedy, also of Irvine, Calif., is contesting charges that six audits he performed included what the SEC called "significant deficiencies."

In addition, the SEC said Kinross-Kennedy failed to obtain a standard quality control process called engagement quality reviews for more than 30 other audits he performed.

Kinross-Kennedy also "falsely represented that he conducted his audits in accordance with Public Company Accounting Oversight Board standards," the SEC said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
2
Textron's G-CLAW on target in live-fire demonstration Textron's G-CLAW on target in live-fire demonstration
3
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
4
$3 gas could make a comeback $3 gas could make a comeback
5
Starbucks testing smaller Frappuccinos Starbucks testing smaller Frappuccinos
Trending News
Video
x
Feedback