SEC Charges Audit Firm BF Borgers, Owner With Fraud

The SEC said it charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers with deliberate and systemic failures to comply with PCAOB standards in its audits and reviews.

• The audits and reviews were incorporated in more than 1,500 SEC filings from January 2021 through June 2023, the SEC says
• To settle the SEC’s charges, BF Borgers agreed to pay a $12 million civil penalty, and Benjamin Borgers agreed to pay a $2 million civil penalty
• Both also agreed to permanent suspensions from appearing and practicing before the Commission as accountants, effective immediately, the SEC says
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