• Register
Return to: Home > News > PCAOB censures Breard & Associates

PCAOB censures Breard & Associates

The Public Company Accounting Oversight Board (PCAOB) has censured Breard & Associates. It has revoked the firm’s registration as well as imposing a penalty of $75,000.

Breard & Associates failed to comply with AS 1220 Engagement Quality Review. It failed to obtain an engagement quality review and concurring approval of issuance even though the standards set by the PCAOB was that the engagement quality review should be performed.

PCAOB have also censured Kevin G. Breard, the firm’s CPA. The board have imposed these sanctions on the basis of their findings that the firm and Beard had repeatedly “violated PCAOB rules and standards in connection with 135 audit and attestation engagements by the firm of its broker-dealer clients for fiscal years 2014, 2015, 2016,” according to the disciplinary proceedings report released by the PCAOB.

Disciplinary proceedings will go ahead under section 105(c) of the Sarbanes-Oxley Act of 2002. The board has felt that this is appropriate as it is a matter of public interest and necessary for the protection of investors.

Respondents of the case (Breard & Associates and Kevin Breard) have submitted offers of settlement which the board has determined to accept.

Kevin Breard is the founder, managing partner and principal of Breard & Associates. He is a certified public accountant licensed by the California Board of Accountancy, he also holds licenses in several other states. The board have decided to censure him and bar him from being an associated person of a registered public accounting firm.

The report into the proceeding said: “Breard took or omitted to take actions knowing, or recklessly not knowing, that his actions and omissions would directly and substantially contribute to the firm’s violations of PCAOB rules and standards.”

 

By Mishelle Thurai 

Top Content

    Accountancy Europe: the winner takes it all

    Jonathan Minter spoke to Olivier Boutellis-Taft, chief executive officer at Accountancy Europe, about how technology could change the industry, and how training needs to keep up to enable the profession to develop

    read more

    Embracing global technology trends

    Accountancy Europe’s Digital Day 2018 found the European accounting profession looking to tackle the challenges presented by new technologies head on. Jonathan Minter reports from the day

    read more

    IMA Conference: automation of the audit

    At the annual conference of the Institute of Management Accountants (IMA) in Indianapolis, Deloitte partner Alex Smith gave a presentation on digital transformation in the profession. Joe Pickard spoke to Smith following the presentation to find out more about his views on the future of audit

    read more

    IMA Conference: technology and the human effect

    The annual conference of the Institute of Management Accountants (IMA) took place in Indianapolis this year. Members of the profession gathered to hear the latest from the institute and other market players, covering some of the challenges and opportunities the profession faces.

    read more

    The Caribbean: a digital paradise

    The ICAC hosted its 36th annual conference in June this year – very much looking to the future following a tough 2017 for the Caribbean. Jonathan Minter spoke with chief executive officer Misha Lobban Clarke

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.