The Public Company Accounting Oversight Board has disciplined two former auditors at BDO Seidman for failing to review the audit work of a junior member of the firm and then trying to cover up by backdating documents.
The PCAOB found that Stephen J. Nardi, a partner in BDO's Philadelphia office, assigned audit manager Ann Marie Fitzpatrick to oversee an audit of client Hemispherx Biopharma's financial statements for fiscal year 2004. However, after she completed the audit-planning phase, Nardi directed her to stop working on the Hemispherx audit engagement and concentrate on a larger client.
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