Audit Board Moves to Revoke 97 Firms' Registrations
The Public Company Accounting Oversight Board says the firms failed to stay active in its filings, and it is giving them 60 days to respond.
Updated on Nov. 9, 2026 in Public Companies
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The Public Company Accounting Oversight Board has notified 97 audit firms in the U.S. and overseas that it plans to revoke their registrations for failing to remain active in board filings. The move is the board's first mass removal of registered firms since 2024.
Why it matters
The notice affects audit firms across multiple countries and marks a shift in how the board manages its registry. The board said maintaining complete and accurate registration records is essential to its mission of overseeing auditors of public companies.
The board notified 97 firms under a rule adopted in 2024 that gives each firm 60 days to ask to remain registered. Enforcement actions fell 27% to 37 last year, and the board's 2026 budget was cut 9.4% to $362.1 million, leaving open how the reduced resources will affect oversight.
The players
Public Company Accounting Oversight Board (PCAOB)
The nonprofit body created by the Sarbanes-Oxley Act of 2002 that oversees audits of public companies and registers the firms that perform them.
U.S. Securities and Exchange Commission (SEC)
The federal agency that oversees the U.S. securities markets, approved the PCAOB's revisions to QC 1000 and trimmed the board's 2026 budget.
Paul Atkins
The former SEC commissioner who became chairman of the Securities and Exchange Commission in April 2025.
Erica Williams
The former SEC official who served as chair of the PCAOB until her departure in July 2025.
The details
Firms that did not stay active in official PCAOB filings received notice that the board intends to revoke their registrations, with notified firms including BDO China in Shanghai and Turkmen Bagimsiz Denetim in Istanbul. Under the rule, firms have 60 days to inform the board they want to remain active, and failure to respond will lead to formal revocation.
Timeline
April 2025: Paul Atkins became SEC chairman.
July 2025: Erica Williams departed as PCAOB chair.
2024: The board adopted Rule 2107(h) on constructive withdrawal requests.
Friday (November 2026): The board notified the 97 firms of its plan to revoke their registrations.
December 15: Amendments to QC 1000 softening quality control safeguards take effect.
Market Landscape
The move follows PCAOB Rule 2107(h), adopted in 2024, which created a 60-day constructive withdrawal process for firms that stop filing. It is the board's first mass removal of registered firms since then, and it comes as enforcement actions and budget have both declined under new SEC leadership.
Audit firms that lose PCAOB registration can no longer audit public companies, which can affect the companies that rely on them for required filings. Companies whose auditors are on the notified list may need to confirm that their audit firm remains registered before the deadline.
The takeaway
Investors and companies should check whether their auditor is registered with the PCAOB, since registration status determines whether that firm can legally audit a public company. Oversight changes can alter how audit quality is monitored over time.
What happens next
Firms have 60 days from notice to request continued registration, after which the PCAOB will proceed with formal revocations for any firms that do not respond.
Further reading
For broader context on regulatory oversight of listed companies, see Public Companies.
Source note: This article includes information reported by CFO Dive.
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