Financial Compliance

PCAOB Chairman and Board Members Sworn In

The Public Company Accounting Oversight Board (PCAOB) announced that Demetrios (Jim) Logothetis was sworn in as Chairman, and Mark A. Calabria and Steven D. Laughton were sworn in as Board Members on February 10, 2026. The new leadership was appointed by the SEC and will oversee the PCAOB's statutory responsibilities.

PCAOB Names William Ryan Acting Director of Enforcement Investigations

The Public Company Accounting Oversight Board (PCAOB) announced William Ryan has been named Acting Director of its Division of Enforcement and Investigations. He succeeds Robert E. Rice, who is retiring. This appointment oversees investigations and enforcement of PCAOB rules and securities regulations.

PCAOB Publishes 15 New Firm Inspection Reports

The Public Company Accounting Oversight Board (PCAOB) has published 15 new inspection reports for audit firms. These reports cover firms in various countries and provide insights into their audit quality. The PCAOB encourages users to visit its Firm Inspection Reports page for more detailed filtering and data access.

PCAOB Publishes Expanded Inspection Reports on Three Firms

The PCAOB has published expanded inspection reports for three audit firms: Assure CPA, LLC; Kronick Kalada Berdy & Co, P.C.; and Michael T. Studer CPA P.C. These expansions are due to the firms' failure to adequately address quality control issues within the 12 months following the original inspection reports.

NCUA Voluntary EGRPRA Review and Deregulation Project

The National Credit Union Administration (NCUA) has initiated a voluntary review of its regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). This review, which is not statutorily required, aims to reduce regulatory burden on credit unions and will inform future regulatory changes. The comment period is open for 90 days.

NCUA Releases Q4 2025 Credit Union Performance Data

The National Credit Union Administration (NCUA) has released its fourth quarter 2025 performance data for federally insured credit unions. The report indicates growth in total assets and loans outstanding, alongside an increase in net income for the year 2025.

NCUA Proposes Deregulation Changes to Records Preservation Program

The National Credit Union Administration (NCUA) has proposed changes to its Records Preservation Program, aiming to clarify guidance and remove burdensome requirements. The proposals include removing appendices, defining key terms, and allowing electronic record formats, offering greater flexibility to credit unions.

NCUA Share Insurance Fund Results - Q4 2025

The National Credit Union Administration (NCUA) released the Share Insurance Fund results for the fourth quarter of 2025. The fund reported a net income of $113.8 million and held $24.1 billion in assets. The report also noted a decrease in credit unions with composite CAMELS codes 3, 4, and 5, with no federally insured credit union failures during the quarter.

NCUA and FDIC Host Webinar on Financial Scams

The NCUA and FDIC are hosting a free webinar on March 12, 2026, to educate credit unions and banks on identifying and combating prevalent financial scams. The webinar will offer practical strategies, financial education resources, and best practices for protecting consumers.

Geographic Targeting Order for Southwest Border MSBs

FinCEN has issued a Geographic Targeting Order (GTO) imposing recordkeeping and reporting requirements on certain Money Services Businesses (MSBs) along the Southwest Border. This order aims to enhance efforts against illicit finance and money laundering activities.