Public Company Accounting Oversight Board (PCAOB) ยท Indonesia
KAP Purwantono, Suherman & Surja: fine by Public Company Accounting Oversight Board (PCAOB)
Audit or matter: An Indonesian telecommunications company, unnamed by the PCAOB (2011 audit)
Decision date9 February 2017
SanctionFine
Amount as stated$1 million civil penalty, with censure
StatusFinal
NetworkEY
What the regulator found
The PCAOB found that the firm released an unqualified audit opinion before obtaining the completed lease accounting analysis for more than 4,000 cell tower leases, improperly created audit work papers shortly before a 2012 PCAOB inspection, failed to cooperate with the Board's investigation and violated quality control standards. The PCAOB said none of the respondents admitted or denied the allegations.1
Status: Final1
Sources
- Public Company Accounting Oversight Board, PCAOB Announces $1 Million Settlement with Indonesian Member of Ernst & Young Network for Audit Failure, Noncooperation, and Violations of Quality Control Standards (9 February 2017)