While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.
According to a report by the International Forum of Independent Audit Regulators, 37 percent of audits inspected globally across the six largest network firms contained at least one finding by regulators, down from 40 percent in 2017. The IFIAR report is based on a survey of member regulators from 45 countries, including the Public Company Accounting Oversight Board in the United States, who share their inspection findings for the six largest network firms with IFIAR.
