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PCAOB inspection findings rise at Grant Thornton

Tammy Whitehouse | March 22, 2017

While audit inspection findings across the major firms generally improved in the most recently reported year, such was not the case at Grant Thornton, whose report shows an increase in criticisms.

The Public Company Accounting Oversight Board’s recently published 2015 report on 2014 engagements at Grant Thornton shows inspectors selected 34 audits for inspection and found fault with 14 of them, or 41 percent. That’s an increase from the 32 percent of audits called out for problems in 2014 at the firm, although still better than the firm’s 55 percent rate in 2013.

Among the Big 4, three of the four firms saw improvement in their inspection results from 2014 to 2015. PwC improved its rate of deficiency from 29 percent to 22... To get the full story, subscribe now.