Bloomberg Tax
Sept. 25, 2020, 9:04 PMUpdated: Sept. 25, 2020, 10:50 PM

Marcum Gets Three-Year Ban on Auditing Chinese Companies (1)

Nicola M. White
Nicola M. White
Reporter

Marcum LLP is barred for three years from auditing companies with significant operations in China and must pay a $250,000 fine, the U.S. audit regulator said Friday.

The Public Company Accounting Oversight Board also sanctioned two of Marcum’s audit partners, John Klenner and Helen Liao, fining them $25,000 and $15,000 respectively. Klenner can’t serve as a public accountant for two years and Liao is barred for a year, the PCAOB said.

The sanctions stem from the 2013 and 2014 audits of a Delaware corporation that primarily operated out of China and made ...