BF Borgers
BF Borgers is an American accounting firm based in Lakewood, Colorado that specialized in public accounting.
The firm catered to small and microcap companies through discounted fees compared to the Big Four accounting firms.
Staff
In 2023, the firm had approximately 50 staff, of which 10 were Certified Public Accountants (CPAs).
Controversies
Canada
In December 2023, the firm was banned by the Canadian Public Accountability Board (CPAB) from accepting new clients in Canada for failure to adhere to Canadian Auditing Standards (CAS).
United States
The firm's founding partner, Ben F Borgers, was criticized for his inconsistent naming in filings, using 14 different spellings including Ben F Brogers, Blake F Borgers, Ben F Vonesh and Ben F orgers, raising concerns over the level of detail audits received.
In 2022 and 2023, the firm had the worst inspection record of any accounting firm overseen by the Public Company Accounting Oversight Board (PCAOB) having a 100% deficiency rate for the 21 audits reviewed.
In March 2024, the firm's founding partner, Ben Borgers, was fined $5000 and issued a "letter of admonition" by the Colorado State Board of Accountancy for conducting retirement plan audits without "due care". The firm received a $12 million fine and a lifetime ban.
The firm catered to small and microcap companies through discounted fees compared to the Big Four accounting firms.
Staff
In 2023, the firm had approximately 50 staff, of which 10 were Certified Public Accountants (CPAs).
Controversies
Canada
In December 2023, the firm was banned by the Canadian Public Accountability Board (CPAB) from accepting new clients in Canada for failure to adhere to Canadian Auditing Standards (CAS).
United States
The firm's founding partner, Ben F Borgers, was criticized for his inconsistent naming in filings, using 14 different spellings including Ben F Brogers, Blake F Borgers, Ben F Vonesh and Ben F orgers, raising concerns over the level of detail audits received.
In 2022 and 2023, the firm had the worst inspection record of any accounting firm overseen by the Public Company Accounting Oversight Board (PCAOB) having a 100% deficiency rate for the 21 audits reviewed.
In March 2024, the firm's founding partner, Ben Borgers, was fined $5000 and issued a "letter of admonition" by the Colorado State Board of Accountancy for conducting retirement plan audits without "due care". The firm received a $12 million fine and a lifetime ban.
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