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U.S. accounting watchdog flags growing number of audit deficiencies
U.S. accounting watchdog flags growing number of audit deficiencies.
The U.S. accounting watchdog has found an "absolutely unacceptable" level of deficiencies in public company audits it inspected in 2022, chair Erica Williams said in a statement on Tuesday.
The Public Company Accounting Oversight Board (PCAOB) is still working through its annual inspection reports, but said in a preliminary review that it expects about 40% of the audits they reviewed in 2022 will have one or more deficiencies in which the auditor did not get evidence to support its opinion.
(Reporting by Chris Prentice; Editing by Chizu Nomiyama)
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