The PCAOB Finally Releases China Inspection Results for KPMG and PwC, It Ain’t Good
For those of you short on time and/or attention span, here’s Public Company Accounting Oversight Board Erica Y. Williams on Bloomberg today discussing the long-awaited inspection results for two firms inspected in 2022: KPMG Huazhen LLP in mainland China [PDF] and PricewaterhouseCoopers in Hong Kong [PDF]. PCAOB inspectors found Part I.A deficiencies in 100% (4/4) of […]
PCAOB’s Latest Report Finds That Auditors of Broker-Dealers Suck, Too
PCAOB Auditor Wrecking Ball Tour 2012 rolls on with the an interim report on the auditors of broker-dealers. And this time there's 100% deficiency! From the Executive Summary of the Report on the Progress of the Interim Inspection Program Related to Audits of Brokers and Dealers: This report presents observations from inspections of portions of […]
Crowe Horwath May Have the Worst PCAOB Inspection Report Yet
PCAOB Terror Tour 2012 continues with the release of the inspection for Oakbrook Terrace's own Crowe Horwath. Up until this point, we thought that no one was going to make a run at the deplorable performances of Deloitte and McGladrey but ol' Crowe (as opposed to Old Crow) has managed to do it. PCAOB examiners found […]
Deloitte Achieves Another Unflattering Milestone in Audit Quality
As you well know, the quality of work performed by Big 4 auditors has been called into question aloud on a regular basis since the fall of 2008. Oh sure, you might say that ever since there was a Final 4 (circa 2002) there have been haters, but since we all came to the brink […]
Here’s the Ernst & Young PCAOB Inspection Report for Your Reading Pleasure
Yesterday, we discussed Deloitte stinking up the joint with its PCAOB inspection report. While the firm, at large, probably puts out hundreds of quality audits, the PCAOB gumshoes found that 45% of audits stamped with a green dot had deficiencies. Today, the Board stuffed our stocking with Ernst & Young's inspection report and while it's not […]