Recent research conducted by Eldar Maksymov (Arizona State University) and Kimberly D. Westermann (California Polytechnic State University) examines the US Public Company Accounting Oversight Board's (PCAOB) audit inspection process and lays out several ways in which it could be improved. These findings are based upon a survey of 25 former inspectors at the PCAOB with experience spanning from 2004 to 2021.
"In an era where the public and inspected auditors continually criticize the PCAOB's approach to inspections, so much so that the Chairperson was replaced in 2021, it is pivotal to understand this approach, but information is limited," the abstract to the paper reads. "To provide transparency over this process, we interview former PCAOB inspectors about the engagement-level inspection process of global network firms."
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