PCAOB Issues Staff Update and Preview of 2019 Inspection Observations

Today, the Public Company Accounting Oversight Board (PCAOB) released a new Spotlight publication, Staff Update and Preview of 2019 Inspection Observations. This Spotlight provides inspections insights ahead of the issuance of our 2019 inspection reports and covers the following topics:

• Update on PCAOB inspection transformation activities;
• Observations of good practices;
• Activities of the PCAOB’s target team, which focuses on current audit risks and emerging topics;
• Recurring deficiencies;
• Technology; and
• Audit committee communications.

Auditors may find this information useful as they plan and perform their audits, and audit committees may find it useful as they engage with their auditors.

*****

About the PCAOB

The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers registered with the Securities and Exchange Commission, including compliance reports filed pursuant to federal securities laws.