The Securities and Exchange Commission (SEC) has charged BF Borgers CPA PC and its owner and managing partner, Benjamin F Borgers with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews.

The sheer scale of the misconduct was illustrated by the Colorado firm’s failure to produce adequate audits for more than 1,500 SEC filings from January 2021 through June 2023.

The SEC also charged the firm and Borger himself with falsely representing to their clients that the firm’s work would comply with PCAOB standards; fabricating audit documentation to make it appear that the firm’s work did comply with PCAOB standards; and falsely stating in audit reports included in more than 500 public company SEC filings that the firm’s audits complied with PCAOB standards.

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