In a public admission that it may not be able to live up to its responsibilities, the Public Company Accounting Oversight Board is considering whether it should reduce the frequency of audit inspections for firms that audit fewer than 100 public issuers.
The PCAOB made an 11th-hour addition to its meeting agenda for today, Dec. 19, to consider at least temporarily scaling back the number of times it would inspect the vast majority of firms under its authority. The Board gave no further indication of how it may be planning to alter its inspection schedule.
