CPA Firm, Officials Ignored Red Flags at Audit Clients, SEC Says

Newport Beach, Calif.-based audit firm Anton & Chia LLP and six of its current or former officials ignored red flags that should have alerted them to fraudulent financial reporting by three of the firm’s audit clients, the SEC alleged Dec. 4.

The clients—microcap companies Accelera Innovations Inc., Premier Holding Corp., and CannaVEST Corp.—also are facing related antifraud charges.

“Accelera’s public filings allegedly included revenue, assets, and liabilities from an entirely different company. The Enforcement Division alleges that instead of standing in the way of Accelera’s fraud, Anton & Chia facilitated it,” the Securities and Exchange Commission said in a release. ...