Question: https://www.sec.gov/litigation/admin/2018/34-84921.pdfSanctions https://www.sec.gov/litigation/admin/2018/34-84920.pdf (Sanctions in these 2 files with the link) Review the sanctions levied against the auditors/audit firms. Compare and contrast the sanctions across both

https://www.sec.gov/litigation/admin/2018/34-84921.pdfSanctions

https://www.sec.gov/litigation/admin/2018/34-84920.pdf

(Sanctions in these 2 files with the link)

Review the sanctions levied against the auditors/audit firms. Compare and contrast the sanctions across both enforcement actions. Were the sanctions fair and equitable? Who do you believe engaged in the most egregious behavior? Why? What does it mean to be censured? Were there sanctions against CRS or the management of CRS? If so, who levied the sanctions/penalties? You might want to check news sources, Nexis Uni, etc.

Impact

What impact does an audit failure have on the general public? Investors? Auditors/audit firms

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