On 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.

 

The PCAOB press release is available here, and the settled order is available here.