2019 Accounting and Auditing Enforcement Activity [PODCAST]
Friday, August 21, 2020
SEC & PCAOB Enforcement 2019

Cornerstone Research Connects is the firm’s podcast series in which we interview Cornerstone Research staff and in-house experts about their research and what the data can tell us about litigation trends.

Elaine Harwood and Alison Forman, coauthors of the report, Accounting and Auditing Enforcement Activity—2019 Review and Analysis, join Laura Simmons to discuss their recent findings, including:

  • The overall level of enforcement activity during 2019, which saw a decrease in SEC actions but an increase in PCAOB actions.

  • The increased number of enforcement actions involving announcements of restatements or material weaknesses in internal controls.

  • Trends in enforcement actions brought against non-U.S. respondents at the SEC and PCAOB.

  • The most common allegation types brought by the SEC and PCAOB.

  • Settlement activity at the SEC and PCAOB, including an increase in the median settlement amount in 2019 at both agencies.