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2016 PCAOB inspection results will deliver mixed results

Tammy Whitehouse | December 7, 2016

When 2016 inspection results are published on the major audit firms next year, they will show an overall reduction in adverse findings, but also a spike in findings for at least one Big 4 firm.

The Public Company Accounting Oversight Board has completed most of the field work associated with its 2016 inspections on 2015 financial statements, said Helen Munter, director of inspections at the PCAOB, at the recent national conference of the American Institute of Certified Public Accountants. “Inspection results are trending down overall, but for some firms we have seen an unfortunate spike back up in results in 2016,” said Munter. She elaborated in remarks to the media after her prepared remarks that “at least one firm” will see a spike in adverse findings, based on preliminary, unpublished results.

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