Virginia CPA Draws SEC Ban in Bank Audit

James Vincent Poti, PBMaresA Virginia accountant, who gave an unqualified opinion about the financial statements of a bank that later collapsed, has been suspended from practice before the SEC. The agency found that CPA James Vincent Poti failed to follow up warnings from an internal auditor about a lack of financial controls – along with his own doubts - or test whether the bank had established a large enough allowance for risky loans.

 

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