The U.S. Securities and Exchange Commission and Public Company Accounting Oversight Board finalized 45 enforcement actions involving accountants in 2018, marking a significant decline from the 75 finalized actions involving accountants in 2017, according to a new Cornerstone Research report released Wednesday.
According to the report, “Regulatory Actions Involving Accountants-2018,” the decrease in SEC actions involving accountants continues a three-year downward trend, and represents a 20 percent decline in 2018 over the previous year. PCAOB enforcement actions involving auditors and audit firms declined 63 percent in the same time frame, and 2018’s 13 total actions represents the lowest since 2013. Last year was also the PCAOB’s most active enforcement year, according to the report.
‘Enforcement 40’ for 2020
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