Regulators Indicate Areas of Inspection Focus to Ensure Quality in Audits

The Public Company Accounting Oversight Board (PCAOB) and the UK’s Financial Reporting Council (FRC) have recently announced their areas of focus for upcoming inspections and supervisory reviews of audit engagements. The PCAOB regulates audits of public companies and SEC-registered brokers and dealers. The FRC regulates auditors, accountants, and actuaries and sets the UK’s Corporate Governance …

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