RSM to Pay $950,000 to Settle Auditor Independence Violations

Aug. 27, 2019, 7:16 PM

RSM US LLP didn’t always know what services it or its affiliates around the world were providing to the firm’s audit clients. Those blind spots resulted in auditor independence violations spanning 15 U.S. audit clients and more than 100 quarterly and annual financial statements.

The firm—among the largest global accounting firms—has agreed to pay $950,000 to settle the Securities and Exchange Commission charges. RSM also agreed to hire an outside consultant to help the firm improve its compliance with U.S. requirements, the SEC’s Aug. 27 order said.

RSM or its global affiliates provided accounting, payroll, and other services prohibited by ...

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