NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Tuesday said it has charged a former partner at audit firm Marcum LLP over quality control failures, the regulator said in a statement.
The SEC said Alfonse Gregory Giugliano, a certified public accountant and former National Assurance Services Leader at Marcum, failed to sufficiently address and remediate deficiencies in the firm’s quality control system. He agreed to a censure and a civil penalty of $75,000, the SEC said.
A lawyer for Giugliano, who did not admit or deny the SEC’s findings, did not respond immediately to requests for comment.
(Reporting by Chris Prentice)
