All Audit Committee Updates

The PCAOB has released its 2024 Annual Report, which summarizes its operations and financial results from last year.

About the PCAOB

Read the publication

The PCAOB published a staff Spotlight observing improvement in deficiency rates, along with 2024 inspection reports for the six firms in the U.S. Global Network Firms inspection category.

Investor Bulletin: Why Audits Matter

Information for Investors

The PCAOB has sanctioned James Pai CPA PLLC and its sole partner for audit failures.

The PCAOB has posted a series of three staff presentation videos designed to help auditors implement the monitoring and remediation process under QC 1000, A Firm’s System of Quality Control.

The PCAOB has entered into a cooperative arrangement with the Romanian audit regulator.

The PCAOB has announced the newly appointed and continuing members of its advisory groups.

About the PCAOB

At a March 19 open meeting, PCAOB staff will discuss quality control monitoring and remediation process, as well as implementation resources for firms.

The PCAOB has published an auditor resource on Form AP, a required form that helps investors and others know who has worked on audits.

Read the Audit Focus

The PCAOB has sanctioned PwC Singapore for violations of PCAOB rules and quality control standards.

The PCAOB has sanctioned an engagement partner for multiple audit failures and a violation of independence requirements.

The PCAOB announced settled disciplinary orders sanctioning nine firms from KPMG’s global network for violations of PCAOB rules and standards, including quality control standards.

On April 3, 2025, Chair Williams will host a PCAOB forum in Chicago for auditors of small businesses and broker-dealers.

About the PCAOB

The PCAOB has posted a new knowledge check designed to help auditors gauge their understanding of key aspects of the PCAOB’s new confirmation standard.

The PCAOB has sanctioned a former engagement partner for violating multiple PCAOB rules and standards, including failure to cooperate with a PCAOB inspection.

The PCAOB has sanctioned an audit firm, finding that quality control deficiencies resulted in widespread answer sharing by firm personnel on internal training tests.

On March 18, 2025, Board Member Christina Ho will host a rescheduled PCAOB forum in Miami for auditors of small businesses and broker-dealers.

About the PCAOB

The PCAOB has posted a new series of knowledge checks designed to help auditors gauge their understanding of key aspects of the PCAOB’s new quality control standard.

The PCAOB has sanctioned an audit partner for issuing audit report before completing all necessary audit procedures.

The PCAOB has sanctioned an audit partner for improperly and repeatedly altering workpapers in two PCAOB inspections and a PCAOB investigation.