PCAOB Issues Preview of 2017 Inspection Process of Registered Auditors and Their Audits of Issuers

Charles Soranno, Managing Director Internal Audit and Financial Advisory
On August 30, the PCAOB published a Staff Inspection Brief that offers guidance into the plan, scope and objectives of its 2017 inspections of registered auditors and their audits of issuers.

This is the third year that the PCAOB has provided auditors a roadmap into its inspection process, and as in past years, the organization’s 2017 Staff Inspection Brief is intended to help investors, auditors and others understand the areas of significant audit risks targeted by PCAOB inspectors and encourage auditors to improve audit quality. The report provides insight into areas that not only are of interest to auditing firms, but also areas that will affect how preparers and issuers track, process and report financial information. Therefore, we believe it is important for public companies to familiarize themselves with the report and prepare accordingly.

Protiviti has published a Flash Report in which we review some of the notable areas of focus and takeaways from the PCAOB’s August 2017 Inspection Brief. Read our Flash Report here.

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