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Philosophy Change May Be Behind Less SEC Accounting Enforcement

Aug. 27, 2018, 11:10 AM

A change in philosophy at Securities and Exchange Commission may cause fewer enforcement actions against accountants, but other regulators appear to be stepping into the void.

The trend over the past few years has showed increased actions linked to certified public accounts employed by public companies, brokers and auditors. However, a report released by Cornerstone Research showed a 20 percent reduction in enforcement actions involving accountants.

That decline coincides with changes at the agency, including a new chairman, and an end to former SEC Chairwoman Mary Jo White’s “broken windows” enforcement policy of punishing minor as well as major beaches...

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