PCAOB

The audit overseer hit at least nine different firms, with fines totaling approximately $4 million.

The board has revised its standard-setting, rulemaking and research agendas for the year ahead after a series of unprecedented changes this past year.

George Botic succeeds the commission's longest-serving member, Duane DesParte, whose second term ended Tuesday.

The board imposed a $175,000 fine on Smythe LLP, a Vancouver-based firm, for violating its rules and quality control standards on four audits.

A lawyer questions whether expanded regulatory enforcement powers will lead to better-quality audits.

The PCAOB released a report that found 42% of auditing firms got at least one quality control criticism related to engagement quality reviews.

The commission charged the Top 100 Firm with violating auditor independence rules on many occasions.

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The standard reflects the many changes in technology, communications and business practices since an interim standard was first adopted decades ago.

The commission appointed a CPA who has served as director of the board's Division of Registration and Inspections.

The Public Company Accounting Oversight Board sanctioned a Deloitte member firm in South America for violating quality control standards.

The board levied a $2 million penalty against the Chicago-based Top 10 Firm for violating its auditing rules and standards, and sanctioned two of its audit partners.

The board issued a proposal to amend its rule for an individual auditor's or firm's contributory liability for knowingly or recklessly contributing to violations.

The Public Company Accounting Oversight Board imposed a $30,000 civil penalty against K.R. Margetson and its sole partner for quality control violations and revoked his firm's registration for a year.

These are the first sanctions ever against a firm over independence violations because it's a member of an alliance where another firm did work for the same client.

It also imposed $150,000 in fines, for failures of independence and professional skepticism, and for not cooperating with a board investigation.

The board continues its aggressive approach to oversight, announcing several hundreds of thousands of dollars in penalties on several auditors in a single week.

The suggestions in board chair Erica William's recent Wall Street Journal op-ed could have troubling ramifications for auditors and their clients.

The board saw high rates of deficiency last year, with little to no improvement over prior years.

Several prominent trade groups are objecting to the board's proposed changes in auditing standards related to noncompliance with laws and regulations.