PCAOB Issues Publication on Inspections of Audit Firms

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Aug 31, 2022

August 31, 2022, the Public Company Accounting Oversight Board (PCAOB) issued "Spotlight: Observations From the Target Team’s 2021 Inspections", which details the results of audit firm inspections conducted by the Board’s Division of Registration and Inspections (the “Division”) in 2021.

Specifically, the publication discusses the Division’s observations, as well as the auditor’s responsibilities and good practices, related to four key topics: (1) fraud, (2) interim reviews of special-purpose acquisition companies (SPACs) and de-SPACs, (3) going concern, and (4) cash and cash equivalents.

Review the publication on the PCAOB's website.

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