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SEC Charges Firms Over Unregistered Audit Reports

Law360 (September 13, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission on Thursday charged a slew of audit firms and partners with issuing reports on the financial statements of public companies while they were not registered with the Public Company Accounting Oversight Board.

In more than three dozen administrative orders issued Thursday, the SEC named 37 unregistered audit firms and 32 audit partners which allegedly participated in the preparation and issuance of their unregistered firms’ audit reports.

The agency said the firms and partners did not comply with a fundamental requirement...
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