Stephen Nardi, a former director of BDO Seidman’s assurance practice in Philadelphia, Pennsylvania, has been barred from working with a public accounting firm for breaches of Public Company Accounting Oversight Board (PCAOB) standards, including changing documentation relating to an audit in 2004.
Nardi and audit manager Ann Marie Fitzpatrick were sanctioned this week for backdating initials and signatures on documentation after Nardi authorised a financial report to be filed with the Securities and Exchange Commission before it was completed as part of a 10-K filing.
As part of an agreement reached with PCAOB, Nardi has been barred from associating with a registered accounting firm but may file a petition for reinstatement after one year.
BDO asked Nardi to resign and the separation became official on March 21, 2006, the PCAOB said. Fitzpatrick, who was censured by the PCAOB, resigned from the firm in February 2006.
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