Last week, WebCPA ran a news item that a CPA firm under fire for its audit of a Long Island, N.Y. school district is reportedly shutting its doors. This came right after the scandal-plagued school district filed a $12 million lawsuit against the firm and the release of a scathing report by New York State Comptroller Alan Hevesi in which he blasted the accounting firm for failing to identify a multi-million-dollar fraud, not meeting professional standards, and violating auditor independence standards in its audit.
Specifically, a press release from his office indicated:
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access