ADMINISTRATIVE PROCEEDING
File No. 3-19132

Washington, D.C., April 5, 2019 - The Securities and Exchange Commission today announced settled administrative proceedings against an audit firm and its partners for improper professional conduct while conducting audits and reviews of public issuers.

According to the order, audit firm KLJ & Associates, LP ("KLJ"), and partners Kent L. Jensen and Ronald A. Burgmeier, failed to comply with professional auditing standards in connection with 10 audits and 11 interim reviews for five public companies. In particular, KLJ and Jensen failed to obtain sufficient appropriate evidence to provide a reasonable basis for KLJ's audit reports, properly evaluate management's accounting estimates, and adequately document the audit procedures performed. KLJ and Jensen also failed to document required communications with the issuers' boards of directors, document analytical procedures for reviews of interim financial information, obtain written representations from management, prepare engagement completion documents, and exercise due professional care and professional skepticism. Moreover, Burgmeier, failed to comply with the requirements for engagement quality reviews and exercise due professional care and professional skepticism.

The SEC's order found that KLJ, Jensen, and Burgmeier engaged in improper professional conduct within the meaning of Exchange Act Section 4C(a)(2) and Rule 102(e)(1)(ii) of the SEC's Rules of Practice. Without admitting or denying the SEC's findings, KLJ, Jensen, and Burgmeier agreed to the entry of an order suspending them from appearing or practicing before the SEC as accountants, which includes not participating in the financial reporting or audits of public companies. The SEC's order permits KLJ, Jensen, and Burgmeier to apply for reinstatement after five years.

The SEC's investigation was conducted by Jennie B. Krasner and Avron Elbaum and was supervised by Peter Rosario, George Bagnall, and Antonia Chion.