PCAOB Releases Annual Report on Inspection Program Related to Audits of Brokers and Dealers

The PCAOB has released its annual report on its inspection program related to audits of broker-dealers. The report’s purpose is to promote the PCAOB’s “goal of driving improvement in audit quality to protect investors and increase transparency in reporting inspection results and delivering useful guidance to the audit profession.”

The report indicates that the PCAOB continues to observe high rates of deficiencies in certain areas, such as examination, review, and audit engagements.

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