Accounting Fraud, Failed Audits Remain on SEC Enforcement Agenda

Accounting fraud and audit failures remain fixtures of the SEC’s enforcement agenda even as the Wall Street regulator shifts its priorities under the Trump administration and grapples with the fallout of a recent Supreme Court decision.

The Securities and Exchange Commission continues to focus on gatekeeper accountability, acting Chief Accountant Ryan Wolfe said to auditors and their lawyers at an American Law Institute conference Monday.

“A strong accounting profession that is acting as a force for good is completely consistent with the presence of a robust enforcement program focused on gatekeepers,” Wolfe said. “Ethics and quality are worth defending.” ...