PCAOB Releases Annual Report on Interim Inspections of Broker-Dealer Audits

The PCAOB has released its Annual Report on the Interim Inspection Program Related to Audits of Brokers and Dealers. Compared with 2024, the PCAOB’s overall inspection findings revealed that the deficiency rates for:

• Examination engagements improved for the largest audit firms.
• Review engagements generally remained consistent.
• Audit engagements improved for firms of various sizes.

In addition to detailing the specific findings, the annual report addresses the Board’s inspections approach for 2025, gives relevant statistics related to the firms selected for inspections, and provides an in-depth discussion of the Board’s observations regarding the deficiencies noted.

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