Baltia Air Lines Inc. (fka BLTA)

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That is the third BLTA auditor in a row "busted". Birds of a feather fock together.

https://pcaobus.org/Enforcement/Decisions/Documents/105-2016-054-Scrudato.pdf

As of December 31, 2013 and 2014, Baltia's largest asset was a single
Boeing 747 airplane. The airplane represented $1.5 million and $2.1 million of total
assets, or approximately 80% of total assets, in 2013 and 2014, respectively. Except for
obtaining management representations, Scrudato and the Firm failed to perform
sufficient procedures in either year related to whether the Boeing 747 existed and
whether Baltia had legal title to it. 20 Further, aside from obtaining management
representations, Scrudato and the Firm failed to perform sufficient procedures to
evaluate whether Baltia's airplane was impaired as of December 31, 2014 in accordance
with generally accepted accounting principles.21 In fact, Scrudato noted that an updated
impairment analysis would be completed in the future.

I love how a depreciating asset of a failed aircraft increased in value.