Top Audit Regulator ‘Proud’ of Record as Agency Shakeup Looms

The US audit board’s chair heralded her record holding auditors accountable even as she’s at risk of losing her job soon amid an expected shakeup of the Enron-era regulator.

Erica Williams, chair of the Public Company Accounting Oversight Board, touted a near record number of rule-writing projects, expanded inspection reports, and more costly penalties for violations. She also reprised her concerns that an inspection violation rate of 46% is unacceptable and urged auditors to not be “complacent” as they launch into year-end financial reporting season.

“The PCAOB is the only organization doing what we do. And Congress gave us an ...