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U.S. accounting watchdog flags growing number of audit deficiencies

U.S. accounting watchdog flags growing number of audit deficiencies.

  • Updated On Jul 26, 2023 at 08:27 AM IST
Read by: 100 Industry Professionals
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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)

  • Published On Jul 26, 2023 at 08:24 AM IST
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