Audit regulators have rapped the knuckles of EY and Grant Thornton by republishing old inspection results with previously concealed criticisms of the firms’ quality control practices now exposed.
The Public Company Accounting Oversight Board republished EY’s 2010 inspection report and two of Grant Thornton’s reports from 2008 and 2009 to publicize instances where the board’s quality control criticisms were not addressed to the board’s satisfaction within the one-year period that is allowed in inspection rules.
