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PCAOB Releases Preview of Audit Firm Inspection Findings

May 7, 2019

The Public Company Accounting Oversight Board (PCAOB) has posted a preview of its inspection staff’s observations from 2018, detailing some deficiencies it uncovered for auditing firms and ways to improve audit quality. The preview describes some of the common deficiencies found by the PCAOB inspection staff, along with their observations on technology, and implementation of new accounting and auditing standards and rules. The preview includes finding for both U.S. and non-U.S. audit firms that inspected both annually and every three years. Read more (PDF) at the PCOAB website.