Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Changes to PCAOB inspections will begin in 2019

Tammy Whitehouse | October 24, 2018

With a new focus on prevention of audit problems rather than detection and remediation, a newly seated audit regulatory board plans to retool its approach to audit inspections, enforcement, and standard setting.

The Public Company Accounting Oversight Board will begin a new approach to its controversial inspection process in 2019, says Chairman William Duhnke, who has focused the early months of his term on leading a “lengthy strategic planning process.” Duhnke and his four fellow board members, also newly appointed at the start of 2018, learned through the process they need to steer the audit regulatory approach more toward identifying and addressing root causes of audit failures to prevent them from occurring.

With respect to inspections, the board is pursuing a number of new activities to overhaul inspections including, “how we select audit...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.