These reports examine trends in accounting and auditing enforcement actions that were publicly disclosed by the U.S. Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB).
Accounting and Auditing Enforcement Activity
Trends in PCAOB, SEC Accounting and Auditing Enforcement Actions
Elaine Harwood, coauthor of recent reports on PCAOB and SEC enforcement, spoke to an editor from Thomson Reuters Accounting & Compliance Alert to discuss the reports’ findings.
2022 Review and Analysis
SEC Accounting and Auditing Enforcement Activity
In fiscal year 2022, the SEC publicly disclosed 68 accounting and auditing enforcement actions, a 55% increase from the prior fiscal year, but still below pre-pandemic levels.
2022 Year in Review
PCAOB Enforcement Activity
The PCAOB increased its enforcement activity sharply in 2022, disclosing the most enforcement actions in five years, and handing down the highest monetary penalties since its establishment in 2002.
2021 Review and Analysis
Accounting and Auditing Enforcement Activity
In a year characterized by leadership transitions at the SEC and the PCAOB, overall accounting and auditing enforcement activity decreased.
2020 Review and Analysis
Accounting and Auditing Enforcement Activity
SEC accounting and auditing enforcement activity remained strong, but PCAOB auditing-related activity declined to a new low as 2020 saw pandemic-related challenges and the potential for a change in U.S. presidential administration.
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