September 20, 2020

Here’s How the Top Eight Audit Firms Ranked in PCAOB Inspection Error Rate

This got by us for some reason, but Compliance Week noted Crowe Horwath's atrocious error rate in its 2011 PCAOB inspection reports was by far the worst among the eight largest audit firms.

Here's the ranking of firms, from best to worst, and their error rate:

1. KPMG — 22.6%
2. EY — 35.7%
3. BDO — 39.1%
4. Grant Thornton — 40%
5. PwC — 41%
6. Deloitte — 42.3%
7. McGladrey — 50%
8. Crowe Horwath — 61.5%

CW mentions that Crowe's error rate in '09 was 15.3% so this is quite a plunge. Whether or not this is the bottom is another matter. 

As you can see, KPMG comes in as for the overachiever here; it isn't quite a British Open victory, but hey, it's something.

Crowe Records Highest 2011 Audit Failure Rate [CW]

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

FYI: One of the ‘KPMG 5’ Is Scheduled to Be Sentenced on Sept. 23

A Manhattan federal court judge will decide next Wednesday whether former KPMG executive David Britt should spend some time inside a jail cell for his involvement in a scheme to steal secret audit inspection information from the PCAOB. But if Britt, former co-leader of KPMG’s Banking and Capital Markets Group, is sentenced to prison on […]