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
2023 YEAR IN REVIEW
PCAOB Enforcement Activity
The Public Company Accounting Oversight Board (PCAOB) expanded its enforcement activity to the highest level since 2017. Monetary penalties imposed by the PCAOB nearly doubled compared to the record set in 2022.
Year in Review: FY 2023
SEC Accounting and Auditing Enforcement Activity
The SEC expanded its accounting and auditing enforcement activity in fiscal year 2023, while monetary settlements dropped for the second consecutive year.
Year in Review: FY 2022
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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