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PCAOB fines five firms for audit committee communication failures
The Public Company Accounting Oversight Board (PCAOB) has fined five firms, including Ernst & Young (EY), for failing to comply with audit committee communication rules. EY faces a $45,000 penalty, while Accell Audit & Compliance will pay $40,000, and Crowe MacKay and Grant Thornton are each fined $30,000. This enforcement action is part of the PCAOB's ongoing efforts to ensure adherence to reporting requirements, with a total of 17 firms sanctioned since July 2023.
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