SEC charges audit firm BF Borgers and its owner with systemic auditing standard violations, permanent suspension, and $14m fine for fraudulent practices.
The SEC has charged audit firm BF Borgers and its owner, Benjamin Borgers, with systemic failures to adhere to auditing standards, affecting over 1,500 filings. They will be permanently suspended from appearing as accountants before the SEC and pay $14 million in fines. The SEC accuses BF Borgers of fraud, including backdating audit reports, falsifying firm independence, and manipulating clients' financial statements.
May 03, 2024
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