Berkow, Neil H. of Stamford, CT

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Berkow’s AICPA membership was suspended for one year, effective September 15, 2016, in connection with the disciplinary action taken by the Public Company Accounting Oversight Board (PCAOB). Specifically, through an “Offer of Settlement”, and without admitting or denying the findings, the PCAOB barred Mr. Berkow from being an associated person of a registered public accounting firm with the right to apply for reinstatement after one year from the effective date of the PCAOB’s Order. This decision was based on the Board’s findings that: (a) Mr. Berkow’s Firm violated a rule of the Securities and Exchange Commission in connection with an audit of a broker-dealer client as a result of maintaining and preparing accounting records of the broker-dealer, and preparing financial statements that the broker-dealer filed with the Commission, which impaired the Firm’s independence; (b) Mr. Berkow took or omitted to take actions that he knew, or was reckless in not knowing, would directly and substantially contribute to the Firm’s violation of that Commission rule; and (c) Mr. Berkow and the Firm violated PCAOB rules and auditing standards in connection with a second audit of the same broker-dealer client as a result of similar conduct a year later.