backOn March 28, 2024, two firms (R. Bolko CPA P.A and Fontanella Associates LLC CPA & Consulting Firm) settled with the PCAOB for violations of PCAOB rules and standards related to the timely filing of Form APs. The Board identified these violations through a PCAOB sweep.
Pursuant to PCAOB Rule 3211, Auditor Reporting of Certain Audit Participants, registered public accounting firms must provide information about engagement partners and other accounting firms that participate in audits of issuers by filing a Form AP no later than the 35th day after the audit report is included in a document filed with the SEC. According to the PCAOB, the two firms did not timely file required Form APs in connection with multiple audits.
The PCAOB, on a neither admit nor deny basis, censured and imposed a $30,000 and $25,000 civil money penalty on R. Bolko CPA P.A and Fontanella Associates LLC CPA & Consulting Firm, respectively. Both firms also consented to undertake remedial measures to establish or improve its policies and procedures regarding PCAOB reporting requirements.
The PCAOB press release is available here, and the settled orders are available here: R. Bolko CPA P.A and Fontanella Associates LLC CPA & Consulting Firm.