Reference no: EM131292073
PCAOB Disciplinary Orders Utilize the PCAOB website to respond.
Facts: On August 1, 2011, the PCAOB issued order formally barring two former Ernst & Young auditors from future audits of public companies. Peter C. O’Toole and Darrin G. Estella, as partner and senior manager for a public company audit, respectively, were changed with violating PCAOB rules and auditing standards with the improper creation, addition, and backdating of audit documentation prior to a PCAOB inspection.
Following is part of the PCAOB’s summary findings related to this matter. This is from the PCAOB’s Order related to Mr. O’Toole.
Respondent improperly created, added, and backdated a working paper in advance of the Board’s inspection of the Audit. Others under his supervision and authorization improperly created, added, and backdated other working papers in advance of the Board’s inspection. Respondent, and others supervised and authorized by him, provided misleading documents and information to the Board, in violation of Rule 4006. This conduct also violated AS3 because the documents added to the working papers did not indicate the dates that documents were added to the working papers, the names of the persons preparing the additional documentation, and the reason for adding the documentation months after the documentation completion date.
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Pcaob issued order formally barring two former
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