July 8, 2014 by Brad Perriello
The Public Accounting Oversight Board suspends ex-PricewaterhouseCoopers accountant Randall Stone for failing to address a $400 million fraud scheme at ArthroCare
The fallout over a $400 million fraud scheme by former ArthroCare (NSDQ:ARTC) executives continued yesterday after a national accounting board announced the suspension of the former PricewaterhouseCoopers accountant who audited ArthroCare’s books but failed to turn up the scheme.
The Public Company Accounting Oversight Board barred Randall Stone from working for a registered public accounting firm for 3 years and leveled a $50,000 fine, according to a press release. Stone, who resigned from PwC June 30, did not admit or deny the board’s findings, according to the release.