In 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:

• The overall level of enforcement activity during 2022, which saw a sharp increase in enforcement activity and the most enforcement actions in five years.

• 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.

• That monetary penalties were imposed on all firm respondents and all but two individual respondents.

• That no actions in 2022 alleged auditor independence violations.

• Potential expectations from the PCAOB in 2023.