On September 24, 2024, the PCAOB issued a settled order
against Halpern & Associates, LLC. The PCAOB found that Halpern
& Associates failed to disclose to the Board on Form 3 a
reportable event regarding a disciplinary proceeding brought
against the audit Firm. On March 14, 2022, the U.S. Securities
Exchange Commission (the "Commission") initiated a
proceeding against Halpern & Associates involving allegations
concerning two audits the audit firm conducted of a non-issuer
client. The initiation of the Commission's proceeding against
the audit firm constituted a reportable event under Form 3, but the
audit firm failed to file a Form 3 reporting the proceeding until
May 30, 2024, and only after the PCAOB alerted and instructed the
audit firm to correct the failure.
Halpern & Associates consented to a disciplinary order
with the PCAOB that (1) censured the audit firm; (2) imposed a
civil money penalty of $20,000; and (3) required the audit firm to
undertake certain remedial measures, including measures to
establish policies and procedures directed towards ensuring
compliance with PCAOB reporting requirements.
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