On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps’ former auditor, Clark Schaefer Hackett and Co. (CSH)—the same day that the SEC also announced charges against Lordstown for misleading investors about the sales prospects of its flagship electric pickup truck, the Endurance.Continue Reading SEC Settlement with Audit Firm Serves as Reminder of Important Independence Rules
Jonathan Stanley
Contact:Read more about Jonathan Stanley
The PCAOB Closes Comment Period on Controversial Proposal to Expand Auditor Responsibility for Legal Compliance
By Jonathan Stanley & Bradley Yenter on
Posted in Disclosure, Regulation Changes
The Public Company Accounting Oversight Board (PCAOB) recently closed the comment period for its proposal (the Proposal) to significantly increase the responsibility of audit firms to evaluate and disclose a subject public company’s noncompliance with laws and regulations (commonly referred to as NOCLAR).Continue Reading The PCAOB Closes Comment Period on Controversial Proposal to Expand Auditor Responsibility for Legal Compliance