PCAOB Releases Spotlight Report on Audit Firm Culture

The PCAOB has released a spotlight report on the importance of an audit firm’s culture to audit quality. Specifically, the publication addresses observations made as part of an initiative on audit firm culture undertaken by the PCAOB’s Division of Registration and Inspections. The initiative’s primary purpose was to “explore and understand drivers of audit firm culture and to probe whether the audit firm’s culture had an impact on the rising levels of audit deficiencies we have observed in our inspections since 2020.”

For more information, see the press release on the PCAOB’s Web site.