Accounting regulators published a stinging 2004 inspection report on KPMG, the first of the Big Four firm reports to be made public, followed late last week by a similarly unflattering report on Deloitte & Touche. A few weeks earlier, regulators published their findings on a mid-tier firm, Mayer Hoffman McCann, which reads much like the nearly 90 reports now public that describe various findings of audit deficiencies.
The Public Company Accounting Oversight Board is gradually posting the results of its 2004 inspections in accordance with Sarbanes-Oxley rules, which require inspections annually for firms that audit more than 100 public issuers and at least every three years for other firms.
