Reuters
The settled charges against the London-based audit firm, Crowe CEO Nigel Bostock, and senior auditor Matthew Stallabrass were announced nearly two years after the Securities and Exchange Commission reached a $38.8 million settlement with the purported music streaming business Akazoo, which allegedly defrauded investors out of tens of millions of dollars. Following the audit, Akazoo went public through a merger with a special purpose acquisition company (SPAC) in 2019, with financial statements falsely claiming $120 million in revenue for the prior year. "Audit quality and its continuous improvement remain a key priority for the firm," the company said in a statement.