Please ensure Javascript is enabled for purposes of website accessibility
September 30, 2023

PCAOB Inspection Reports Are Practically Beach Reads Now

pcaob inspection report pwc ey 2016

Over the years, people have complained — myself included — that PCAOB inspection reports were not exactly useful documents. Sixty-odd pages of audit and legalese don’t exactly make for riveting content.

However! In the new EY and PwC inspection reports that were released today, you’ll note executive summaries that list tables for the “Effects of Audit Deficiencies on Audit Opinions,” “Most Frequently Identified Audit Deficiencies” and “Areas in which Audit Deficiencies Were Most Frequently Identified.” It’s a decent snapshot of the firm’s performance of these audits, what kind of audit problems occurred and where they occurred within the financial statements.

This is particularly exciting because I mentioned the lack of executive summaries not that long ago. I’m not saying you have me to thank, but I’ve heard that my writings do get passed around PCAOB HQ (if only after being scrubbed for colorful language).

Now all we need are for the users to be identified, letter grades for audit quality, a tl;dr section, and you’ll see these inspection reports in every Hudson News.

[EY, PwC]

 

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

young woman looking at her phone in a dark room

Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte

Buried in the fourth annual Connected Consumer survey announced Wednesday by Deloitte is a concerning figure: Gen Zs were more than twice as likely as boomers to have their social media account hacked (17% vs. 8%) and three times more likely than boomers to fall for an online scam (16% vs. 5%). Can we please […]

Blue and yellow EY signage at entrance to EY office in Canary Wharf. It is UK professional services company

EY’s Work on This One Bank Project Was So Bad They Had to Refund the Client

Apologies in advance to that one guy in the comments who always accuses us of being mean to EY for no reason. Not our fault they end up in the headlines for stuff worth making fun of. It appears the ever talkative “people familiar with the matter” blabbed recently to Financial Times about an EY […]