By Kyle Brasseur2024-05-01T15:57:00
The Public Company Accounting Oversight Board (PCAOB) published the full results of its 2022 inspection for Big Four firm KPMG after its initial report contained more than two dozen redactions.
The amended report, made available by the PCAOB on Friday, replaces the original published in February. At that time, the redactions raised eyebrows in the audit community as an atypical move undertaken by the regulator.
Though the full report does not address why the initial report contained redactions, it does identify a 29.6 percent deficiency rate observed among 54 KPMG audits reviewed during the 2022 inspection cycle. That figure places KPMG in the middle of the pack among its Big Four counterparts, behind PwC (9.3 percent) and Deloitte (17 percent) but ahead of EY (46.3 percent).
2024-04-10T18:35:00Z By Aaron Nicodemus
KPMG Netherlands agreed to pay a record $25 million penalty levied by the U.S. Public Company Accounting Oversight Board for allegedly allowing widespread cheating by employees on internal training exams and misinforming regulators about the misconduct.
2024-03-07T15:31:00Z By Kyle Brasseur
Three of the Big Four audit firms saw increases to the deficiency rates observed in their latest Public Company Accounting Oversight Board inspection reports, while KPMG had its results redacted.
2023-10-16T14:29:00Z By Kyle Brasseur
A new staff report issued by the Public Company Accounting Oversight Board seeks to provide best practices for auditors amid observations of rising deficiency rates related to engagement quality reviews.
2025-10-07T20:32:00Z By Jaclyn Jaeger
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.
2025-07-21T14:13:00Z By Aaron Nicodemus
Continuing a Trump administration practice of firing independent regulators, the head of the Public Accounting Oversight Board has been sent packing.
2025-06-03T21:33:00Z By CW Staff
Nearly 200 attendees gathered at the Hotel Zaza in Austin, Texas for Compliance Week’s 2025 June 3-4. This year’s conference brought together compliance professionals from across the globe to discuss how rapidly shifting politics, policies and supply chain realities are affecting their jobs, and share best practices to respond.
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