PCAOB Issues Publication Related to Auditor’s Use of Data and Reports

The PCAOB has released a spotlight publication that details its inspection observations related to audit firms’ use of data and reports. The publication notes that the “PCAOB staff has observed significant and consistent rates of deficiencies related to auditors’ evaluation of audit evidence, including information from external sources, and testing of information produced by the company . . . and used in the performance of control activities and substantive testing.”