Here is the converted article in markdown format:

PCAOB Imposes Sanctions on Firm for Failing to Disclose Reportable Events

Washington D.C., March 29, 2017

The Public Company Accounting Oversight Board (PCAOB) has announced that it has imposed sanctions on a firm for failing to timely disclose reportable events related to disciplinary proceedings.

Failure to File Reports

According to the PCAOB’s Order, the firm failed to file Form 3 reports with respect to four separate disciplinary proceedings in which partners of the firm were respondents. Additionally, the firm failed to disclose the conclusion of four other reportable events, including:

• Three proceedings before the Comisión Nacional de Valores (CNV)
• One proceeding before the Banco Central de la República Argentina

Investigation Findings

The PCAOB’s investigation found that the firm’s internal compliance and reporting systems failed to identify the initiation and conclusion of these proceedings as being reportable to the PCAOB. As a result, the firm delayed notifying the PCAOB of the events for months or even years after learning of them.

Sanctions Imposed

To protect investors and promote transparency in financial reporting, the PCAOB has imposed sanctions on the firm. The firm will be:

• Censured
• Required to pay a civil money penalty of $25,000
• Required to establish policies and procedures to ensure compliance with PCAOB reporting requirements
• Required to provide training to its personnel on these requirements

Commitment to Transparency

“We take seriously any failures by firms to comply with our reporting requirements,” said Phoebe W. Brown, Secretary of the PCAOB. “These sanctions demonstrate our commitment to protecting investors and promoting transparency in financial reporting.”

Full Order Available

The full text of the Order can be found on the PCAOB’s website at www.pcaob.org.