WASHINGTON: A top U.S. accounting watchdog has brought only 18 enforcement actions and levied just US$6.5 million in fines against the Big Four accounting firms in its 16-year existence, according to a study published on Thursday.
But the agency has only brought 18 enforcement cases related to 21 audits against the Big Four. The Big Four audit 99per cent of companies in the S&P 500, according to POGO. POGO's report did not provide any breakdown of enforcement actions taken when Doty was the chairman and after he was replaced.
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