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Inspection Results Vary Even Within Global Networks, PCAOB Member Says

Tammy Whitehouse | November 19, 2015

Global affiliates of the six largest accounting firms turn in strikingly different inspection results as a group compared with the U.S. affiliates of the same firms, giving audit regulators more to ponder about what conclusions they can draw from their own inspection findings.

Data from the Public Company Accounting Oversight Board shows Deloitte in the United States, for example, has been reducing the rate of deficiencies in its audit inspections from 2011 through 2013, but Deloitte’s global affiliates as a group have turned in much higher rates. At KPMG, U.S. deficiencies are rising, while at KPMG’s global affiliates, deficiency rates are falling. At EY and PwC, the disparity between U.S. results and overseas results is not as stark. Deficiency rates at BDO in the United States and at Grant Thornton are much higher than at overseas affiliates.

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