iIn our latest episode, coauthors Elaine Harwood and Alison Forman discuss their report PCAOB Enforcement Activity—2022 Year in Review. The report’s key findings include:
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The overall level of enforcement activity during 2022, which saw a sharp increase in enforcement activity and the most enforcement actions in five years.
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New records in 2022, including the highest monetary penalties in PCAOB history and more enforcement actions involving non-U.S. respondents than the number of actions involving U.S. respondents.
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That monetary penalties were imposed on all firm respondents and all but two individual respondents.
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That no actions in 2022 alleged auditor independence violations.
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Potential expectations from the PCAOB in 2023.
