PCAOB Inspection Reports for Annually Inspected Firms

The Public Company Accounting Oversight Board (PCAOB) is required to inspect audit firms that audit public companies and broker-dealers at least once every three years. Firms that provide opinions for more than 100 issuers must be inspected every year. On February 2, 2022, the PCAOB released the 2020 inspection reports of RSM, Crowe, Marcum, Cohen & Co and Moss Adams. These reports completed the release of 2020 inspection reports for annually inspected firms.

In this article, Audit Analytics looks at these reports and explores the most common accounting and audit deficiencies.