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Fear, Mistrust Plagued Audit Board After Last Leadership Revamp

June 30, 2021, 9:26 PM

An expansive shakeup at the U.S. audit regulator left its staff audit and legal professionals fearful, mistrusting, and resistant of a slate of new board members, who pledged in 2018 to reimagine every aspect of the agency’s work.

That turmoil led to a pair of whistleblower complaints in 2019 and exposed a board poorly equipped to respond to those criticisms, according to a report released publicly this week. The more than 200-page report details failings of the Public Company Accounting Oversight Board’s governance and recommends dozens of fixes.

The report from Kalorama Legal Services, run by former SEC Chairman ...

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