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Audit Issues Cost Grant Thornton $4.5M

Thursday, 03 December 2015
News

SECGrant Thornton and two partners have agreed to settle charges they ignored red flags in auditing two companies that later faced enforcement actions by the Securities and Exchange Commission. The accounting firm, which admitted wrongdoing, will forfeit about $1.5 million in audit fees plus interest and pay a $3-million penalty. The two partners were barred from SEC practice.

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