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Thursday, April 29, 2021
In a year characterized by the challenges of the COVID-19 pandemic and the potential for a change in U.S. presidential administration, SEC enforcement activity remained strong but PCAOB activity declined to a new low. Together, the SEC and PCAOB publicly disclosed 63 accounting and auditing enforcement actions during 2020, with nearly 80% representing SEC actions. Monetary settlements totaled more than $1.4 billion, nearly all of which was imposed by the SEC.
Research Sample and Data Sources
This research examines 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) between 2015 and 2020.