PCAOB starts full inspections of auditing
Washington, DC – The Public Company Accounting Oversight Board (PCAOB) has begun its first full inspections of accounting firms that have registered to audit public companies in the US, according to chairman William McDonough.
Testifying before the House Committee on Financial Services in June, McDonough said the PCAOB inspections, which began in May, would run through November.
“We will focus on, among other things, efforts to detect fraud; control over compliance with independence requirements; the adequacy of documentation; efforts to identify, evaluate and manage risk; and compliance with professional auditing and
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