backOn August 17, 2023, the PCAOB issued a Notice of Finality of an adjudicated disciplinary order sanctioning AJ Robbins, CPA, LLC and Allan Jeffrie Robbins, CPA. The Notice follows an April 28, 2023 Initial Decision issued by the PCAOB’s Chief Hearing Officer. According to the PCAOB’s findings, the firm failed to conduct two issuer audits with due professional care and professional skepticism during 2018. The PCAOB also found that the firm issued audit reports and performed interim review engagements between 2016 and 2018 without obtaining concurring approval for issuance from an engagement quality reviewer. Additionally, the PCAOB found that the firm and Robbins failed to cooperate in a PCAOB inspection during 2018 by improperly altering audit documentation and making misrepresentations to the PCAOB’s inspectors. The PCAOB also found that the firm failed to maintain its independence from an issuer client due to a business relationship with an officer and director of that client, and that Robbins directly and substantially contributed to the firm’s violations.
The order permanently revoked the firm’s registration, permanently barred Robbins from association with any registered public accounting firm, and imposed a civil monetary penalty of $150,000 on the Firm and Robbins, jointly and severally.
A copy of the order can be found here.