Reuben E. Price & Co. Public Accountancy Corp., a small firm based in San Francisco, has been censured by the Public Company Accounting Oversight Board for failing to take action after one of the firm's clients issued an annual report that appeared to be, but was not, audited.

No fines were imposed on the firm, which has one partner, Reuben E. Price, and eight other professional staff members. The firm neither admitted nor denied the PCAOB's findings about its work for Universal Communication Systems Inc, a company that markets solar energy systems.

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