Last month, the Public Company Accounting Oversight Board (PCAOB) released ‘‘Conversations with Audit Committee Chairs: What We Heard & FAQs,’’ to provide transparency into the inspections process and report what inspections teams heard in terms of what is working well to help improve audit quality. Based on conversations with nearly 400 audit committee chairs in conjunction with inspections of the audits of U.S. issuers, the publication focuses on audit quality, audit committee perspectives of the auditor, new auditing and accounting standards, and technology and innovation
In this Flash Report, we describe key points in the PCAOB’s recent publication as well as our commentary.