The Public Company Accounting Oversight Committee, the regulatorfor the audit industry, has released a report to help auditcommittees understand its inspections, according to ComplianceWeek. The document explains the inspection process and aims tohelp audit committees learn from PCAOB's findings.
The report encourages audit committees question their auditorsabout what the firm has learned from PCAOB inspections and whetheranything potentially negative has been discovered in thoseinspections. It also suggests that audit committees should ask ifsimilar issues have faced other companies and how they have beenresolved.
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