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PCAOB Reports Increasing Flawed Audits

by Starling Insights

Starling Insights Editorial Board

Aug 23, 2023

Observations

In recent years, inspectors at the US Public Company Accounting Oversight Board (PCAOB) have reportedly found a significant increase in the number of flawed audits conducted by global accounting firms.

In its recently published "Staff Update and Preview of 2022 Inspection Observations," the PCAOB revealed that it expects to find deficiencies in 40% of audits conducted in 2022, up from 30% in 2021 and 21% in 2020.

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PCAOB Reports Increasing Flawed Audits

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