重磅！某中概股审计机构被PCAOB处罚

来源：四大新鲜事儿

近日，美国公众公司会计监督委员会（PCAOB）公布了一项和解纪律令，对注册会计师Michael T. Studer及其会计师事务所Michael T. Studer CPA P.C.（以下简称"Studer"及"该事务所"）进行处罚，事涉该事务所2019年6月对当时总部位于中华人民共和国（中国）的上市公司JMU Limited（"JMU"）年度财务报表出具的审计报告。违规行为包括：Studer未对JMU超过96%的报告收入执行测试程序、虚假签署未实际参与审计工作的人员姓名，以及未能适当监督包含中国境内新聘合同审计师的审计团队。

处罚措施包括：对Studer实施永久执业禁令、永久撤销该事务所的PCAOB注册资格，并对Studer及事务所共同处以20,000美元（折合人民币约14万元）民事罚款。

"当审计师公然玩忽职守时，投资者将面临风险，"PCAOB主席Erica Y. Williams表示，"PCAOB将采取行动保障美国市场投资者的权益。"

根据PCAOB纪律令披露，在对JMU 2018财年财务报表审计期间，Studer及其事务所存在以下行为：

• 未对占JMU总报告收入12%的重大收入流执行测试；

• 因违背基本审计抽样原则，未能获取剩余88%收入的充分审计证据；

• 未测试管理层关于1.06亿美元商誉无形资产减值的估算依据；

• 未妥善记录审计团队工作底稿，包括Studer在团队成员未实际执行会计分录测试等程序的情况下，擅自代签其姓名。

Studer还未能适当监督JMU审计团队的工作。例如，其依赖一名居住在中国的合同审计师执行JMU在华主要审计工作，尽管该审计师此前从未与该事务所合作，且仅在电话介绍当天与Studer有过一次直接交流。此外，该事务所未按规定获取JMU审计报告的质量复核人批准。

PCAOB纪律令进一步指出，该事务所在JMU审计期间违反质量控制标准，包括：（a）未执行充分的会计分录测试以应对已识别的舞弊风险；（b）未按规定与审计委员会沟通；（c）未按标准妥善保存审计文档。Studer对这些违规行为负有直接主要责任。

值得注意的是，这些违规行为发生在PCAOB已多次警示之后。2012年，PCAOB就曾因Studer及事务所在五家发行人审计中的类似违规行为作出处罚。2019年前的多项PCAOB检查也多次指出同类缺陷，但Studer及事务所仍在JMU审计中重复违规。

"屡次违反PCAOB标准的行为让人严重质疑审计师执行上市公司审计的合规能力，"PCAOB执法部主任Robert E. Rice强调，"此次的处罚令表明，PCAOB将对这类屡犯者实施行业禁入。"

Studer及事务所在未承认也未否认指控的情况下接受了PCAOB处罚决定。本案由PCAOB执法部Thomas McCann、Tina Bell、Elliott C. Mogul和Tima Hawes调查，William Ryan与John Abell督导。

公开信息显示，“JMU Limited”在国内的名称为众美联，该公司定位中国领先的餐饮酒店产业链资源整合服务平台，由四十二家中国餐饮领袖品牌企业共同投资联合发起成立。

2015年6月8日，众美联与纳斯达克上市公司窝窝合并，成功登陆美股市场，纳斯达克代码：WOWO，全面聚焦B2B业务板块，全速推进面向全球的餐饮酒店B2B云智能采购平台的发展。同年9月，众美窝窝宣布剥离团购和其他非餐饮业务，集中优势资源全力聚焦餐饮酒店业B2B平台。2021年该公司更名为“Mercurity Fintech Holding Inc,”，转型区块链业务(NASDAQ:MFH)。

PCAOB的公告原文如下：

The Public Company Accounting Oversight Board (PCAOB) today announced a settled disciplinary order sanctioning Michael T. Studer, CPA, and Michael T. Studer CPA P.C.(PDF) (“Studer” and the “Firm,” respectively), for violations relating to the Firm’s June 2019 audit report on the annual financial statements of JMU Limited (“JMU”), a public company that at the time was headquartered in the People’s Republic of China (“China”). Among other violations, Studer failed to perform testing for over 96% of JMU’s reported revenue, falsely entered workpaper sign-offs for auditors who had not performed the work, and failed to appropriately supervise an engagement team that included a newly-hired contract auditor residing in China.

The sanctions imposed include a permanent bar against Studer, a permanent revocation of the Firm’s PCAOB registration, and a $20,000 civil money penalty imposed jointly and severally on Studer and the Firm.

“When auditors blatantly fail to do their work, it puts investors at risk,” said PCAOB Chair Erica Y. Williams. “The PCAOB will take action to ensure investors on U.S. markets are protected.” 

As described in the PCAOB’s order, during the audit of the FY 2018 financial statements of JMU, Studer and the Firm:

Failed to test a material revenue stream comprising 12% of JMU’s total reported revenue;

Failed to obtain sufficient audit evidence for the remaining 88% of JMU’s total reported revenue by disregarding basic audit sampling principles;

Failed to test management’s estimates underlying its impairment of $106 million in goodwill intangible assets; and

Failed to adequately document the engagement team’s work on the audit, including where Studer entered workpaper sign-offs for engagement team members regarding journal entry testing and other procedures when they had not actually performed that work.

Studer also failed to appropriately supervise work performed by the JMU audit engagement team. For example, Studer relied on the work of a contract auditor residing in China to perform significant parts of the JMU audit work in China, despite the fact that the contractor had never previously worked with the Firm and had only directly interacted with Studer once, on the day they were introduced on a phone call. Additionally, the Firm failed to obtain concurring approval of issuance of the JMU audit report from an engagement quality reviewer.

As further described in the PCAOB’s order, the Firm violated PCAOB rules and quality control standards during the time of the JMU audit by failing to implement adequate quality control policies and procedures, including monitoring procedures, to provide the Firm with reasonable assurance that the work performed by engagement personnel met applicable professional standards and regulatory requirements. These violations were illustrated during the JMU and other audits by Studer’s and the Firm’s failures to (a) adequately perform journal entry testing to address certain identified fraud risks, (b) make mandatory audit committee communications, and (c) properly assemble and retain audit documentation in accordance with PCAOB standards. Studer was directly and substantially responsible for the Firm’s violations.

The above-described violations occurred despite the PCAOB’s previous notice to Studer and the Firm that such misconduct ran afoul of PCAOB auditing standards and quality control standards. For example, in 2012, the PCAOB issued a disciplinary order against Studer and the Firm(PDF) finding violations similar to the ones described above in connection with five issuer audits.

Additionally, in the years leading up to 2019, various PCAOB inspections of the Firm also notified Studer and the Firm of deficiencies in areas similar to the ones described above. Despite these repeated notices, Studer and the Firm persisted in committing the same types of misconduct at the time of the JMU audit.

“Repeat violations of PCAOB standards raise serious doubts about an auditor’s fitness to perform public company audits in compliance with those standards,” said Robert E. Rice, Director of the PCAOB’s Division of Enforcement and Investigations. “As evidenced by today’s order, the PCAOB will bar such recidivists from auditing public companies when appropriate.”

Without admitting or denying the findings, Studer and the Firm consented to the PCAOB’s order against them.

PCAOB enforcement staff members Thomas McCann, Tina Bell, Elliott C. Mogul, and Tima Hawes conducted the investigation, supervised by William Ryan and John Abell.

The PCAOB oversees auditors’ compliance with the Sarbanes-Oxley Act, provisions of the securities laws relating to auditing, professional standards, and PCAOB and SEC rules.

Further information about the PCAOB Division of Enforcement and Investigations is available on the PCAOB website. Firms or individuals wishing to report suspected misconduct by auditors, or to self-report possible misconduct, may visit the PCAOB Tips and Referrals page.

（转自：四大新鲜事儿）