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Federal Contractor Misconduct Database (FCMD)
The federal government routinely awards contracts to companies with
histories of misconduct, including
…
contract fraud and other
violations. POGO believes that providing this website will help to
improve contracting decisions and increase public knowledge of how
the government spends billions of taxpayer dollars each year.
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Deloitte Korea Quality Control Failures in 2013 Audit
The Public Company Accounting Oversight Board (PCAOB) censured Deloitte Anjin LLC (Deloitte Korea) and imposed a $350,000 civil penalty. According to the PCAOB’s order, inspection of a 2013 audit found that Deloitte Korea’s system of quality control failed to provide reasonable assurance that audit personnel performed all professional responsibilities with integrity, and that the work they performed met applicable professional standards and regulatory requirements. These failures resulted in violations of PCAOB standards by Deloitte personnel, who backdated and improperly altered audit documentation. In imposing the penalty, the PCAOB took into account the company’s “extraordinary cooperation.”
- Misconduct Type
- Securities
- Enforcement Agency
- PCAOB
- Contracting Party
- None
- Court Type
- Administrative
- Disposition
- Fine
- Date of Order
- 10/31/2019