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PCAOB ponders possible change in inspection approach

Tammy Whitehouse | May 6, 2016

Audit regulators are beginning to look at how they might evolve their approach to inspections to spend less time looking at the highest-risk audits.

Audit quality has improved, and regulatory inspections have helped drive that improvement, but it might be time to retool the inspection approach to reach the next level, said Jeanette Franzel, a member of the Public Company Accounting Oversight Board, in a speech at a financial reporting conference. “We are currently exploring the potential for more random selection of audits and audit areas to inspect,” she said.

Franzel-jeanette-0315Currently, the PCAOB...

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