The firm consented to the sanctions and admitted to the facts, findings, and violations in the order. Crowe Horwath HK's registration was revoked with a right to reapply after three years. The firm also was censured.
"Regardless of their location, the PCAOB is prepared to bring disciplinary proceedings against registered audit firms that fail to comply with their obligations under U.S. law to provide information requested by the PCAOB," said Claudius B. Modesti, Director of PCAOB Enforcement and Investigations. "These firms are gatekeepers to protect investors in U.S. capital markets."