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US PCAOB Issued Record Fines in 2023

US PCAOB Issued Record Fines in 2023

by Starling Insights

Starling Insights Editorial Board

Dec 01, 2023

Observations

PCAOB Governance, Audit & Regulatory Failures Audit Culture & Consequences Regulatory Trends The Costs of Misconduct

The US Public Company Accounting Oversight Board (PCAOB) has set a new record for fines in 2023, with $11.85mn levied against more than three dozen firms, including PwC, Deloitte, and KPMG.

The PCAOB, under the leadership of Chair Erica Williams, is intensifying enforcement efforts. In a statement to the Financial Times, Williams said the PCAOB would "continue to use every tool in our enforcement toolbox to make sure people know that there are consequences for putting investors at risk."

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