Everything’s Bigger In Texas, Except the Peer Review Requirements?
Texas Representative Phil Stephenson is trying to exempt CPAs who only prepare financial statements for small business (a.k.a. "the little guys") from the state's mandatory peer review program. The change would have no impact on audit reports or reviews, it would only exempt compilation reports prepared for micro or small businesses from peer review. "CPAs […]
ICYMI: PwC and BDO Both Passed Their AICPA Peer Reviews Just Fine
Remember how Deloitte's AICPA Peer Review finding of "pass with deficiency" was one of the lowliest of low points for the year in auditing? Sure you do. At the time, we learned from the AICPA's James Brackens that from 2008 to 2010, only 8% of the audit firms that participated in the peer review had […]
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 […]