Accounting firm BDO USA LLP reversed its opinion on the effectiveness of internal controls over financial reporting for two clients after audit failures were uncovered during the firm’s 2017 regulatory inspection.
Two violations related to an unidentified issuer, which restated its financial report following the inspection, according to the firm’s inspection report that the Public Company Accounting Oversight Board released June 27.
It was not clear from the PCAOB report which audit violations or issuers related to the restatement or the adverse opinion over internal controls for financial reporting.
The regulator identified audit violations in nine out of 23 engagements ...
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