[Global Financial Insights] PCAOB Issues Inspection Reports for 10 Global Audit Firms and More
- Blog|News|Account & Audit|
- < 1 minute
- By Taxmann
- |
- Last Updated on 14 February, 2026
Latest from Taxmann
Editorial Team – [2026] 183 taxmann.com 345 (Article)
Global Financial Insights is a weekly feature for the Accounts and Audit Module subscribers of Taxmann.com. It provides you with the latest updates on financial reporting and auditing practices from across the globe. Here is this week’s financial update:
1. PCAOB Issues Inspection Reports for 10 Global Audit Firms Across Multiple Jurisdictions
The Public Company Accounting Oversight Board (PCAOB) has released 10 new inspection reports covering audit firms in the Netherlands, Greece, China, Thailand, Colombia, Italy, and the United States, including firms affiliated with EY, PwC, Forvis Mazars, and other mid-sized networks. The inspections relate to selected issuer audits and assess compliance with PCAOB auditing and quality control standards.
Across the reports, the PCAOB identified instances where firms failed to obtain sufficient appropriate audit evidence in key risk areas such as revenue recognition, accounting estimates, internal control over financial reporting (ICFR), and other significant judgmental areas. In certain cases, the Board also reported quality control deficiencies, indicating areas requiring strengthening in engagement supervision, monitoring, and firm-level quality management systems.
These inspection findings reinforce the PCAOB’s continued focus on audit quality and global oversight of registered firms auditing issuers accessing U.S. capital markets. The reports provide important insights for audit committees, investors, and practitioners regarding recurring themes in audit deficiencies and areas warranting heightened professional skepticism and documentation rigor.
Source – Public Company Accounting Oversight Board
Click Here To Read The Full Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
