Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Deficiencies Noted In Pcaob Inspections: Implications For Auditing Instruction, Bernard H. Newman, Mary Ellen Oliverio
Deficiencies Noted In Pcaob Inspections: Implications For Auditing Instruction, Bernard H. Newman, Mary Ellen Oliverio
Faculty Working Papers
The Public Company Accounting Oversight Board (PCAOB) has responsibility for monitoring public accounting firms that provide audits for publicly owned companies. Among the duties assigned to the PCAOB was “conducting inspections of registered public accounting firms.” A strategy for such inspections was developed that includes reporting deficiencies judged to be significant for supporting conclusions made.
This paper presents a content analysis of deficiencies disclosed in the nine inspections (during three years) of three accounting firms, along with the largest four firms, that are inspected each year. Also discussed are the general implications for auditing teaching in colleges/universities and in continuing …