Accounting Firm Quarterly Update, Q4 2023

February 20, 2024

We are pleased to provide you with Gibson Dunn’s Accounting Firm Quarterly Update for Q4 2023. The Update is available in .pdf format at the below link, and addresses news on the following topics that we hope are of interest to you:

2023: The Audit Enforcement Year in Review
PCAOB Publishes Enforcement Orders Against China-Based Firms, Even as Congress Contemplates Further Action
SEC Cybersecurity Disclosure Rules Go into Effect
SEC Approves 2024 PCAOB Budget
SEC Chief Accountant Issues Statements on Cash Flow Reporting and Professional Skepticism
Second Circuit Limits SEC’s Ability to Seek Disgorgement
Canadian Public Accountability Board Provides Insights on 2023 Audit Quality Assessment Results
UK Economic Crime and Corporate Transparency Act 2023 Goes into Effect While FRC Revises Corporate Governance Code
PCAOB Makes Personnel Changes
PCAOB Announces Staff Priorities for 2024 Inspections and Interactions with Audit Committees
FinCEN Corporate Transparency Reporting Goes into Effect
Other Recent SEC and PCAOB Enforcement and Regulatory Developments

Please let us know if there are topics that you would be interested in seeing covered in future editions of the Update.

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Accounting Firm Advisory and Defense Group:

James J. Farrell – Co-Chair, New York (+1 212-351-5326, [email protected])

Monica K. Loseman – Co-Chair, Denver (+1 303-298-5784, [email protected])

Michael Scanlon – Co-Chair, Washington, D.C.(+1 202-887-3668, [email protected])

In addition to the Accounting Firm Advisory and Defense Practice Group Chairs listed above, this Update was prepared by David Ware, Timothy Zimmerman, Benjamin Belair, Adrienne Tarver, Monica Limeng Woolley, Douglas Colby, John Harrison, and Nicholas Whetstone.

Attorney Advertising: These materials were prepared for general informational purposes only based on information available at the time of publication and are not intended as, do not constitute, and should not be relied upon as, legal advice or a legal opinion on any specific facts or circumstances. Gibson Dunn (and its affiliates, attorneys, and employees) shall not have any liability in connection with any use of these materials. The sharing of these materials does not establish an attorney-client relationship with the recipient and should not be relied upon as an alternative for advice from qualified counsel. Please note that facts and circumstances may vary, and prior results do not guarantee a similar outcome.