News & Insights

Auditor Liability Bulletin

March 15, 2024

SEC Grants Motion to Amend Order Instituting Proceedings Against Audit Partner to Correct Factual Errors

On March 12, 2024, the Securities and Exchange Commission granted a motion from the Enforcement Division to amend an order instituting proceedings (OIP) against Edward F. Hackert, engagement partner at Marcum LLP. We previously reported on the original OIP in our January 19, 2024, bulletin. The OIP originally contained factual errors, subsequently discovered by Enforcement Division staff, overstating the number of times Mr. Hackert allegedly violated PCAOB auditing standards. The SEC granted the motion, noting that the amendment “should not surprise or prejudice” Mr. Hackert given that it narrowed the scope of the allegations against him.
The SEC’s order granting the motion can be found here.