PCAOB Publishes Data Points on Financial Restatements and Auditor Turnover

On October 15, 2025, the PCAOB published a new edition of Data Points: Financial Restatements and Auditor Turnover. In the Data Points publication, the PCAOB noted that from 2005 to 2024, Big R financial restatements (i.e., restatements disclosed in an SEC Form 8-K, Item 4.02) occurred at a rate of approximately 3% per year. On average, 29% of companies with Big R restatements reported an auditor change in the year preceding the restatement. A copy of the publication is available here.