Non-U.S. Firm Enforcement

The PCAOB has authority to investigate and discipline registered U.S. and non-U.S. public accounting firms and persons associated with those firms for noncompliance with the Sarbanes-Oxley Act of 2002, the rules of the PCAOB and the Securities and Exchange Commission, and other laws, rules, and professional standards governing the audits of public companies, brokers, and dealers.  When violations are found, the PCAOB can impose appropriate sanctions. 

As required by the Sarbanes-Oxley Act, the Board keeps its investigations and disciplinary proceedings confidential and nonpublic. In addition, if a respondent in a contested disciplinary proceeding petitions for SEC review of a Board-imposed sanction (or the SEC elects to review the sanction on its own), the Act provides that the sanction is stayed pending further action by the SEC. Normally, SEC review proceedings are public pursuant to Rule 301 of the SEC’s Rules of Practice. However, the Act prohibits the Board from publicly reporting the sanction unless and until the SEC lifts the stay. Accordingly, even after the PCAOB hearing officer issues an initial ruling that violations have occurred and imposes sanctions and the Board has acted on an appeal, if any, information about the matter remains unavailable to the public at least until the case is appealed to the SEC, the SEC elects on its own to review the Board's final decision, or the opportunity for SEC review has passed.

The disciplinary orders represent settlements that the Board has reached with registered non-U.S. firms or their associated persons and public adjudicated orders imposing sanctions against registered non-U.S. firms or their associated persons.

Visit the Enforcement page for additional information on PCAOB enforcement, including disciplinary orders regarding U.S. public accounting firms, or their associated persons.