Summary of Accounting and Auditing Enforcement Releases for the Quarter Ended September 30, 2024 Below you will find a link to our Summary of Accounting and Auditing Enforcement Releases (“AAER”) for the quarter ended September 30, 2024.
The SEC issued 17 AAERs in the final quarter of its 2024 fiscal year, marking the lowest number of releases in its final fiscal year quarter in over 20 years. Despite the lower-than-average number of releases in Q3, penalties totaled more than $122 million. More than half of all penalties, $112 million, were related to Financial Reporting Fraud related releases. The SEC also issued an FCPA-related AAER this quarter, only the second of fiscal year 2024, involving a manufacturing company that violated the anti-bribery, books and records, and accounting controls provisions of the FCPA and was ordered to pay penalties totaling nearly $10 million.
These and other matters reported by the SEC throughout Q3 are summarized in our full report.
