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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Failure to Maintain Independence During Audits of Banro Corp.

The Public Company Accounting Oversight Board (PCAOB) censured Deloitte Canada and imposed a $350,000 civil penalty for failing to maintain its independence during its audits of Canadian gold-mining company Banro Corporation. According to PCAOB, Deloitte Canada’s independence from Banro was impaired during audits in 2012, 2013 and 2014 by its reliance on asset valuation reports issued by Venmyn Deloitte (Pty) Ltd., which was actually an affiliate of Deloitte Canada. Deloitte Canada settled the matter without admitting or denying PCAOB’s findings.

Misconduct Type
Securities
Enforcement Agency
PCAOB
Contracting Party
None
Court Type
Administrative
Disposition
Fine
Date of Order
10/16/2018
Contractors Involved Penalty
Total
Deloitte LLP $350,000
Further Information Released
PCAOB Order 10/16/2018

Federal Contractor Misconduct Database