2023 marked 20 years since the first compliance deadline under the Health Insurance Portability and Accountability Act’s (“HIPAA”) privacy rule. Despite the two decades of experience.
The SEC noted cooperation by 69% of public companies and subsidiaries that settled in FY 2023, the third highest of any fiscal year in the Securities Enforcement Empirical Database.
In 2021, at both the SEC and the PCAOB, accounting and auditing enforcement activity and monetary settlements decreased. Together, the SEC and PCAOB publicly disclosed 52 accounting and auditing enforcement actions and monetary settlements totaled approximately $159 million
In 2021, at both the SEC and the PCAOB, accounting and auditing enforcement activity and monetary settlements decreased. Together, the SEC and PCAOB publicly disclosed 52 accounting and auditing enforcement actions and monetary settlements totaled approximately $159 million
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.