The Public Company Accounting Oversight Board (PCAOB) has issued two disciplinary orders censuring BDO Hungary and a senior manager from Deloitte Mexico.
The PCAOB barred Deloitte Mexico senior manager Juan Edgar Mata Castro from being an associated person of a registered public accounting firm, as the USA regulator found that Mata Castro had violated PCAOB rules and standards in connection with an audit of financial statements and failed to cooperate with a PCAOB inspection.
In a separate disciplinary order, the PCAOB imposed a $20,000 civil money penalty on BDO Hungary.
The USA regulator also required the firm to undertake certain remedial measures, including measures to establish policies and procedures directed toward ensuring compliance with auditor independence requirements.
These sanctions have come after the PCAOB found that BDO Hungary had violated the PCAOB’s rule on auditor independence, as well as the PCAOB rule on communication with audit committees concerning independence.