Please ensure Javascript is enabled for purposes of website accessibility

McGladrey’s PCAOB Inspection Report Is Pretty Awful

The PCAOB continues tearing through audit firms like a Texas twister on a random Tuesday during tax season, as it unleashed its fury on McGladrey yesterday. How bad was it? Well, Deloitte can certainly feel better about itself. The Board reported deficiencies in nine of the nineteen (~47%) audits inspected. Deloitte, if you remember, had deficiencies in 26 out of 58 (~45%) of the audits inspected, worst of the Big 4, but Mickey G's has managed to top everyone by creeping even closer to the 50% barrier. Here's the full coroner's report for some bedtime reading that will give the audit wonks nightmares:

2012_McGladrey_Pullen_LLP

[via Compliance Week]

Latest Accounting Jobs--Apply Now:

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

nuclear blast

WTF Happened at SVB and Should KPMG Auditors Have Seen It Coming?

While the general investing public is asking “where were the auditors?” in regards to the recent collapse of Silicon Valley Bank and Signature Bank, the banks’ auditors are insisting that, having exercised requisite due professional care, their unqualified opinions were based on the information available to them at the time and as such, the firm […]

"top secret" file folder

PwC UK Fined £7.5 Million For Faking Evidence and Other Such Terrible Auditing of a Government Contractor

The Financial Reporting Council has fined PwC £7.5 million ($8.9 million USD) for work related to Babcock, a multinational corporation headquartered in the UK providing, among other things, engineering services. Babcock conducts most of its business with the government, particularly the Ministry of Defence (don’t @ us, that’s how they spell it across the pond). […]