PracticeAccounting FirmsEx-BDO director loses job after PCAOB action

Ex-BDO director loses job after PCAOB action

PCAOB has taken disciplinary action against an ex-BDO director for breaches of standards

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.

Further reading:

Deloitte partner barred as firm pays $1m

Read
story in the Philidelphia Business Journal

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