PCAOB Issues Staff Report on Audit Firm Inspections

  • PCAOB (US Public Company Accounting Oversight Board) (dark gray) Image

Dec 08, 2022

On December 8, 2022, the Public Company Accounting Oversight Board (PCAOB) staff has issued a report that details the results of its audit firm inspections conducted in 2021.

Topics covered in the report include:

  1. recurrences in audit deficiencies and higher deficiency rates observed in 2021;
  2. observations on quality control systems; and
  3. good practices related to internal control over financial reporting, accounting estimates related to business combinations, critical audit matters, auditor independence, supervision of audits, and engagement quality review.

Review the press release and report on the PCAOB’s website.


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