The sudden shutdown of what the SEC dubbed a “sham audit mill” will force hundreds of companies, including Trump Media & Technology Group Corp., to hunt for new auditors, scour old audits for potential problems, and scramble to meet public company regulatory deadlines.
The US Securities and Exchange Commission on Friday described widespread violations at BF Borgers CPA, hitting the firm and its founder with a total of $14 million in fines to settle the charges. The regulator detailed false work papers, meetings about client risks that never happened, and audits copied from previous years as the Lakewood, Colo.-based ...