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US state attorneys general investigation of accounting firms
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2026-08-27 23:20 UTC → 2026-09-07 07:34 UTC ·
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A coalition of 16 state attorneys general, including officials from Nebraska, Florida, Alaska, and Iowa, has launched an investigation into the ‘Big Four’ accounting firms—Deloitte, Ernst & Young (EY), KPMG, and PricewaterhouseCoopers (PwC). The coalition alleges that the firms’ support for international climate initiatives, such as the Task Force on Climate-related Financial Disclosures, may conflict with their professional duties of independence, integrity, and objectivity. The officials argue that these climate-related disclosure requirements impose burdensome costs on clients, including small businesses and farmers, which are eventually passed on to consumers. They further suggest that undisclosed climate activism could violate state consumer protection laws by making deceptive representations regarding audit independence. In addition a formal escalation, the attorneys general issued a warning and a communication containing 38 specific questions demanding accountability. The inquiry focuses on whether the firms’ support for frameworks like the International Sustainability Standards Board (ISSB) and the TCFD creates a conflict of interest by generating new revenue through auditing and consulting services. The officials are questioning whether the firms are acting as ‘independent auditors’ or as ‘decarbonization advocates’ seeking to targeting expand their own markets. Specifically, they are investigating whether the accounting firms, firms used discredited climate scenarios, such as RCP 8.5, to influence audit practices and if they re-evaluated their positions following the retraction of certain scientific papers. Additionally, the coalition has challenged a climate-attribution report produced by the National Academies of Sciences, Engineering, and Medicine (NASEM). The attorneys general claim the report, which links extreme weather to climate change, was influenced by researchers connected to climate litigation. They characterized (NASEM), characterizing NASEM’s internal review of its climate work as a ‘sham’ due to potential conflicts of interest and a lack of transparency. interest.
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- 2026-09-07 07:34 UTC US state attorneys general investigation of accounting firms
- 2026-08-27 23:20 UTC US state attorneys general investigation of accounting firms
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