From www.goingconcern.com: The SEC significantly reduced its accounting and auditing enforcement activity in fiscal year 2024, experiencing a 26% decline in total enforcement actions while monetary penalties reached a record $8.2 billion.

Approximately half of the actions were initiated in the last quarter of the fiscal year, with a notable decrease in cases related to accounting controls and restatements.

The Supreme Court’s ruling in SEC v. Jarkesy impacted the SEC’s ability to impose fines in administrative proceedings, leading to a 56% drop in actions against U.S. respondents.