Marcum Gets Three-Year Ban on Auditing Chinese Companies (1)

Sept. 25, 2020, 9:04 PMUpdated: Sept. 25, 2020, 10:50 PM

Marcum LLP is barred for three years from auditing companies with significant operations in China and must pay a $250,000 fine, the U.S. audit regulator said Friday.

The Public Company Accounting Oversight Board also sanctioned two of Marcum’s audit partners, John Klenner and Helen Liao, fining them $25,000 and $15,000 respectively. Klenner can’t serve as a public accountant for two years and Liao is barred for a year, the PCAOB said.

The sanctions stem from the 2013 and 2014 audits of a Delaware corporation that primarily operated out of China and made ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.