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PCAOB explores whether to change audit inspection process

Tammy Whitehouse | May 21, 2018

A newly seated Public Company Accounting Oversight Board is taking a hard look at its approach to regulating the public company audit process, including whether its most visible and controversial activity—audit inspections—is in need of an overhaul.

In his first public remarks since becoming chairman of the PCAOB nearly six months ago, William Dunhke said the new board is conducting a “comprehensive organizational assessment” via an external survey, internal questioning of staff, and direct stakeholder outreach to develop a new, five-year strategic plan.

Formed under the Sarbanes-Oxley Act, the PCAOB can no longer be regarded...

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