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December 3, 2022

Footnotes: PCAOB Takes Down Deloitte, Again; SEC’s Plain English (or Lack Thereof); KPMG Steals a Couple Audit Clients From EY | 11.22.13

Audit Regulator Rebukes Deloitte The government's audit regulator has publicly rebuked Deloitte & Touche LLP for a second time, releasing some of its previously secret concerns about the Big Four accounting firm's quality controls. The Public Company Accounting Oversight Board on Friday unsealed parts of an inspection report on Deloitte that it issued in 2009, in which the board said "important issues may exist" about whether the firm was doing enough to supervise and review its audits and whether it was sufficiently emphasizing the need for its auditors to exercise professional skepticism. The unsealing is a sign that the board feels Deloitte didn't respond properly, in terms of speed and thoroughness, to address its past criticisms. The action doesn't carry any fines or other sanctions for Deloitte. [WSJ]

Plain writing in government: Agencies, plainly speaking, aren’t there yet The SEC got a 'D'. [WaPo]

Barry Salzberg got some of his words in Forbes. [Forbes]

Dog Needs Surgery After Eating Girl’s ‘Volcanic’ Homework [CBS]

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