All Inspection articles

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    PCAOB disciplines former, current Grant Thornton partners


    The PCAOB has delivered an enforcement action to a former partner and current partner at Grant Thornton over an audit dating back to 2013.

  • Blog

    PCAOB report gives Deloitte its lowest deficiency rate


    Deloitte & Touche’s recently published 2017 audit inspection report reflects the lowest deficiency rate the firm has ever earned.

  • Blog

    SEC, PCAOB spill frustration over China stonewall


    U.S. regulators are contemplating what next steps they can take to rattle some greater cooperation out of overseas regulators, especially in China.

  • Blog

    No change in audit-non-audit mix in U.S., KPMG says


    Amid reports that KPMG is drawing a firmer line between audit and non-audit services in the United Kingdom, the firm has no similar plans in the United States.

  • Blog

    Ex-KPMG leader pleads guilty in inspection leak case


    A former KPMG leader has pled guilty to four counts of fraud and conspiracy in connection with an operation to subvert the regulatory inspection process.

  • Blog

    U.S. still waits for new standards on auditing estimates


    Auditors following global standards now have updated rules on how to audit accounting estimates, guidance U.S. auditors have been awaiting for years.

  • Blog

    PCAOB calls out two-thirds of audits at BDO USA


    The PCAOB has handed BDO USA another scathing inspection report, finding 67 percent of the audits examined in 2016 failed to comply with standards.

  • Blog

    PCAOB fines Grant Thornton over audit, partner failures


    The PCAOB has extracted a $1.5 million settlement from Grant Thornton over allegations of audit and quality control failures around engagement partner performance.

  • Blog

    PCAOB flags increased number of audits at Crowe


    After several years of steadily improving results, Crowe Horwath saw an increase in adverse findings in its latest PCAOB inspection report.

  • Blog

    PCAOB publishes views on conflict with China rules


    To address how U.S. audit rules intersect with those in China, the PCAOB has published a four-page Q&A to explain its views on why firms subject to its rules should observe them. Tammy Whitehouse reports.

  • Blog

    PCAOB hits Deloitte again, this time at Netherlands affiliate


    Deloitte has taken another enforcement hit from the PCAOB, this time for independence violations at an affiliate in the Netherlands. More from Tammy Whitehouse.

  • Blog

    PCAOB practice alert finds rash of doctored audit files


    The PCAOB this week published a staff audit practice alert emphasizing that improperly altering audit documentation in connection with a PCAOB inspection or investigation violates PCAOB rules requiring cooperation with its oversight activities and can result in disciplinary actions with severe consequences. “Evidence identified in connection with certain recent oversight ...

  • Blog

    PCAOB Sanctions China-Based Firm for Stalling Investigation


    With its negotiations over regulatory access to China stalled, the PCAOB has settled a disciplinary order against Hong Kong audit firm PKF HK and three employees accused of failing to cooperate with an investigation. The board has revoked the registration of the company and censured the firm, contending that PKF ...

  • Blog

    PwC Reports on Efforts to Raise Audit Quality


    Image: PwC has issued a report to answer questions about what it is doing to better address regulatory demands for better audits. The company is investing in technology, developing talent, and adjusting its audit approach to meet rising expectations. “We understand the importance of maintaining our focus on delivering quality, ...

  • Blog

    PCAOB Explores Tension Over Internal Control Audits


    Image: The PCAOB apparently is taking seriously complaints that its inspection process is driving unnecessary audit work. At a recent conference, PCAOB member Jay Hanson said the board has studied its inspection process to assure that inspections are not imposing new audit requirements. Still, he said, “we cannot rule out” ...

  • Blog

    Inspection Results Vary Even Within Global Networks, PCAOB Member Says


    Image: Global affiliates of the six largest accounting firms turn in strikingly different inspection results compared with their U.S. affiliates. PCAOB research shows. Deloitte U.S., for example, has been reducing the rate of deficiencies in its inspections from 2011 through 2013, but Deloitte’s global affiliates have turned in much higher ...

  • Blog

    PCAOB Finds No Big Improvement in 2014 Inspections


    Image: The Public Company Accounting Oversight Board will soon offer a peek at 2014 inspection findings, but you won’t see much improvement, said Chairman James Doty. The board has delivered consistently tough marks to the major audit firms in recent years, calling for better audit work on such items as ...