The Public Company Accounting Oversight Board (PCAOB) on Nov. 1 issued its 2020 annual inspection reports for the largest U.S. audit firms, including each of the Big Four, BDO, and Grant Thornton.
PwC fared best of the group, with only 1.9 percent of its inspected financial statement audits identified as having significant deficiencies. This outcome was a significant improvement from 2019 (30 percent) and the three prior years that all had double-digit deficiency percentages.
