Auditor’s Independence Marred by Marketing Deal (1)

Warren Averett LLC has agreed to pay $200,000 to settle charges that it violated US conflict of interest rules by vetting the work of a much larger competitor the firm relied on for resources and branding.

The Alabama audit firm also agreed to review its independence policies as part of the settlement made public Tuesday by the Public Company Accounting Oversight Board.

Warren Averett said in a statement that it was committed to providing high quality audits with integrity and was “pleased to resolve this matter with the PCAOB.”

• The top 50 firm, which didn’t admit to ...