On July 11, 2023, the PCAOB issued a settled disciplinary order against CohnReznick LLP for allegedly failing to timely file a Form 3 disclosing two SEC orders sanctioning (i) the firm for deficiencies in its system of quality control that led to audit failures in two audits and (ii) three audit partners who were involved in one of the audits that resulted in the first SEC order. Both SEC orders were issued on June 8, 2022, which triggered a 30-day window for CohnReznick to timely file a Form 3 with the PCAOB. The firm allegedly failed to file the Form 3 to report the SEC orders until December 12, 2022. The PCAOB censured CohnReznick and imposed a civil money penalty of $20,000. The Order is available here.
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