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February 1, 2023

quality control problems

PCAOB Hopes Updating Quality Control Rules Will Maybe Prevent Audit Firms From Constantly Breaking Quality Control Rules

From the earliest days of Going Concern until most recently last month, quality control has been a problematic thing for audit firms. For example, the firm that employed the guy who just got the largest fine the PCAOB has ever given to an individual auditor couldn’t get its quality control systems under control: From 2018 […]

PCAOB Not Satisfied with PwC’s Efforts to Get Better at Auditing

Deba Aubin at Reuters has a great scoop this morning, reporting that the PCAOB "will fault PwC for not promptly addressing quality control problems found during inspections of some of its 2007 and 2008 audits," according to an internal PwC memo dated today and signed by Bob Moritz. [cue]