PCAOB Cross-Border Enforcement
Continuing its regulatory focus on cross-border audits on both the inspection and enforcement fronts, the PCAOB announced on March 29, 2017 that it had settled charges against two former partners of Brazil-based Deloitte Touche Tohmatsu Auditores Independentes for failure to cooperate with a PCAOB inspection and investigation. In addition, on February 9, 2017 the PCAOB imposed sanctions on KAP Purwantono, Sungkoro & Surja (“EY-Indonesia”), an engagement partner, and an EY Area Professional Practice Director (“Area PPD”) for audit failures and failure to cooperate with a PCAOB inspection and investigation.
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