重磅！某中概股審計機構被PCAOB處罰

來源：四大新鮮事兒

近日，美國公眾公司會計監督委員會（PCAOB）公佈了一項和解紀律令，對註冊會計師Michael T. Studer及其會計師事務所Michael T. Studer CPA P.C.（以下簡稱"Studer"及"該事務所"）進行處罰，事涉該事務所2019年6月對當時總部位於中華人民共和國（中國）的上市公司JMU Limited（"JMU"）年度財務報表出具的審計報告。違規行為包括：Studer未對JMU超過96%的報告收入執行測試程序、虛假簽署未實際參與審計工作的人員姓名，以及未能適當監督包含中國境內新聘合同審計師的審計團隊。

處罰措施包括：對Studer實施永久執業禁令、永久撤銷該事務所的PCAOB註冊資格，並對Studer及事務所共同處以20,000美元（摺合人民幣約14萬元）民事罰款。

"當審計師公然玩忽職守時，投資者將面臨風險，"PCAOB主席Erica Y. Williams表示，"PCAOB將採取行動保障美國市場投資者的權益。"

根據PCAOB紀律令披露，在對JMU 2018財年財務報表審計期間，Studer及其事務所存在以下行為：

• 未對佔JMU總報告收入12%的重大收入流執行測試；

• 因違背基本審計抽樣原則，未能獲取剩余88%收入的充分審計證據；

• 未測試管理層關於1.06億美元商譽無形資產減值的估算依據；

• 未妥善記錄審計團隊工作底稿，包括Studer在團隊成員未實際執行會計分錄測試等程序的情況下，擅自代簽其姓名。

Studer還未能適當監督JMU審計團隊的工作。例如，其依賴一名居住在中國的合同審計師執行JMU在華主要審計工作，儘管該審計師此前從未與該事務所合作，且僅在電話介紹當天與Studer有過一次直接交流。此外，該事務所未按規定獲取JMU審計報告的質量複覈人批准。

PCAOB紀律令進一步指出，該事務所在JMU審計期間違反質量控制標準，包括：（a）未執行充分的會計分錄測試以應對已識別的舞弊風險；（b）未按規定與審計委員會溝通；（c）未按標準妥善保存審計文檔。Studer對這些違規行為負有直接主要責任。

值得注意的是，這些違規行為發生在PCAOB已多次警示之后。2012年，PCAOB就曾因Studer及事務所在五家發行人審計中的類似違規行為作出處罰。2019年前的多項PCAOB檢查也多次指出同類缺陷，但Studer及事務所仍在JMU審計中重複違規。

"屢次違反PCAOB標準的行為讓人嚴重質疑審計師執行上市公司審計的合規能力，"PCAOB執法部主任Robert E. Rice強調，"此次的處罰令表明，PCAOB將對這類屢犯者實施行業禁入。"

Studer及事務所在未承認也未否認指控的情況下接受了PCAOB處罰決定。本案由PCAOB執法部Thomas McCann、Tina Bell、Elliott C. Mogul和Tima Hawes調查，William Ryan與John Abell督導。

公開信息顯示，「JMU Limited」在國內的名稱為眾美聯，該公司定位中國領先的餐飲酒店產業鏈資源整合服務平臺，由四十二家中國餐飲領袖品牌企業共同投資聯合發起成立。

2015年6月8日，眾美聯與納斯達克上市公司窩窩合併，成功登陸美股市場，納斯達克代碼：WOWO，全面聚焦B2B業務板塊，全速推進面向全球的餐飲酒店B2B雲智能採購平臺的發展。同年9月，眾美窩窩宣佈剝離團購和其他非餐飲業務，集中優勢資源全力聚焦餐飲酒店業B2B平臺。2021年該公司更名為「Mercurity Fintech Holding Inc,」，轉型區塊鏈業務(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.

（轉自：四大新鮮事兒）