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Pcaob Quality Control Inspections: Unresolved Issues Of Registered Firms, Bernard H. Newman, Mary Ellen Oliverio
Pcaob Quality Control Inspections: Unresolved Issues Of Registered Firms, Bernard H. Newman, Mary Ellen Oliverio
Faculty Working Papers
The Public Company Accounting Oversight Board (PCAOB) has oversight responsibilities that include inspection of not only the audit of financial statements, but also of internal controls and quality controls. The topic of this paper, however, relates only to the inspection of quality controls of registered firms.
This paper presents the results of an exploratory survey of quality control issues that registered firms were unable to resolve within the 12 months from the date of the inspection report. If remediation is not successful within the 12-month period, the issues not resolved by the firm are revealed to the public. The original …