backOn September 24, 2024, the PCAOB issued a settled order against Halpern & Associates, LLC. The PCAOB found that Halpern & Associates failed to disclose to the Board on Form 3 a reportable event regarding a disciplinary proceeding brought against the audit Firm. On March 14, 2022, the U.S. Securities Exchange Commission (the “Commission”) initiated a proceeding against Halpern & Associates involving allegations concerning two audits the audit firm conducted of a non-issuer client. The initiation of the Commission’s proceeding against the audit firm constituted a reportable event under Form 3, but the audit firm failed to file a Form 3 reporting the proceeding until May 30, 2024, and only after the PCAOB alerted and instructed the audit firm to correct the failure.
Halpern & Associates consented to a disciplinary order with the PCAOB that (1) censured the audit firm; (2) imposed a civil money penalty of $20,000; and (3) required the audit firm to undertake certain remedial measures, including measures to establish policies and procedures directed towards ensuring compliance with PCAOB reporting requirements.