The PCAOB posted their 2012 annual report to its website today and it's filled with all kinds of interesting information.
It's the end of a Monday, so we only managed to pull a few examples:
- There were nine audit firms inspected in 2012 that had more than 100 public company audit clients in 2011. They were: BDO, Crowe Horwath, Deloitte, EY, Grant Thornton, KPMG, MaloneBailey, McGladrey, and PwC.
- There were 999 U.S. registered audit firms and 716 non-U.S. registered audit firms that had no issuer audit reports.
- China has 96 registered public accounting firms, second to only the U.S.
- Here's a noteworthy observation we can't take credit for:
— Broc Romanek (@brocromanek) August 12, 2013
- The PCAOB has a watchdog, the Office of Internal Oversight and Performance Assurance, which fulfills a role similar to a Inspector General for a government agency. Here's a list of all their reports.
- If you've ever earnestly asked the question, "Who audits the auditors' auditors?" the answer is: "Blum, Shapiro & Company, P.C." And yes, they got a clean audit opinion. It's on pages 38-39.
- Financial statements start on page 41. They're remarkably unremarkable, but feel free to pick them over can call out anything noteworthy.
Get a load of the full report on the next page. It should keep you busy until tomorrow's open meeting.