PCAOB Releases Spotlight Publication on Bank Audit Inspections

The PCAOB has released a spotlight report that summarizes the PCAOB’s recent bank audit inspections in light of challenges in the banking industry over the past several years (e.g., inflation, interest rate volatility). Among other things, the report addresses the results of a survey of 40 U.S. auditing firms “that audit at least one bank asking about their audit response to the banking events.”