"In its first-ever enforcement case against a Big Four accounting firm, the nation's audit watchdog fined Deloitte & Touche LLP, $1 million and censured the firm over its work checking the books of a San Diego-based pharmaceutical company. ... The PCAOB previously took enforcement actions against 14 individuals and 10 firms, according to a spokeswoman, although they all involved smaller firms", WSJ, 11 December.
Big deal. $1 million to Deloitte. Peanuts. This looks like a PCAOB face saving move to create some credibility with the public and Congress. It appears Deloitte and the PCAOB identified a "fall guy", James Fazio, who "fell on his sword" for the team. Go PCAOB! Go team!
Big deal. $1 million to Deloitte. Peanuts. This looks like a PCAOB face saving move to create some credibility with the public and Congress. It appears Deloitte and the PCAOB identified a "fall guy", James Fazio, who "fell on his sword" for the team. Go PCAOB! Go team!
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