Accountants and auditors are getting a lighter touch from enforcement authorities, according to an analysis that shows actions dropped significantly from 2017 to 2018.
A report from Cornerstone Research says settled enforcement actions by the Securities and Exchange Commission and the Public Company Accounting Oversight Board against accountants “fell sharply” — from 75 actions in 2017 to 45 in 2018. The SEC resolved 32 cases in 2018, down 20 percent from 40 the year before. The PCAOB settled 13 enforcement actions in 2018, 63 percent less than the 35 actions finalized in 2017.
