Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Evidence From The Pcaob's Second Inspections Of Small Firms, Dana R. Hermanson, Richard W. Houston
Evidence From The Pcaob's Second Inspections Of Small Firms, Dana R. Hermanson, Richard W. Houston
Faculty and Research Publications
The article presents information on the rule of the Public Company Accounting Oversight Board (PCAOB) which mandates the inspection of smaller auditing firms in the U.S. The small firm inspections started in 2004, and the first round of inspections revealed a large number of audit deficiencies and quality control defects. It explores the purpose of the second inspections of small auditing and accounting firms. It discusses the possible structural changes in firms inspected twice.