“2022 Developments for Auditor Regulation Under the U.S. Securities Laws” by John Rizio-Hamilton, Jesse L. Jensen, and Jasmine Cooper-Little Published in The Review of Securities & Commodities Regulation

January 27, 2023

In the article “2022 Developments for Auditor Regulation Under the U.S. Securities Laws,” published by The Review of Securities & Commodities Regulation, BLB&G Partners John Rizio-Hamilton and Jesse L. Jensen, and Associate Jasmine Cooper-Little consider the Securities and Exchange Commission’s response to worsening levels of public confidence in independent audits of publicly traded companies. The authors summarize three developments in the SEC’s auditor enforcement over the last year that suggest comments by SEC Enforcement Director Gurbir Grewal are not just “tough talk”: (1) stunning lapses in ethics by audit professionals at the highest levels; (2) continuing concerns about audit independence; and (3) ongoing emphasis on the need for supervision of foreign audit firms. While these developments are promising, the authors contend that the SEC must proceed with renewed rigor to fulfill its duties to protect investors.

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