The Securities and Exchange Commission filed an enforcement action in its administrative tribunal against Adrian Beamish, an audit partner at PricewaterhouseCoopers, for his alleged role in not acting on red flags and certifying as correct financial statements of Burrill Life Sciences Capital Fund III for 2009 through 2012. During this time, the Fund, led by Steve Burrill, its founder, paid millions of dollars to other companies Mr. Burrill owned and controlled to keep the companies afloat, to travel on family vacations or for other unauthorized purposes. (Click here for background in the SEC’s order settling an enforcement action against Mr. Burrill and others for this conduct.) According to the SEC, Mr. Beamish failed adequately to follow up on bookkeeping characterizations that payments to Mr. Burrill’s related companies were advances of future management fees despite such fees being paid many months, and in some cases, years before such fees arguably would be earned. Among other things, the SEC seeks a determination temporarily or permanently barring Mr. Beamish from appearing or practicing before it as an accountant.