In accordance with the Sarbanes-Oxley Act and PCAOB Rule 4003, the PCAOB conducts a continuing program of inspections of registered public accounting firms to assess a firm’s compliance with certain laws, rules, and professional standards in connection with its performance of audits, issuance of audit reports, and related matters involving public companies and other issuers. The Board issues a report on each such inspection, and a portion of each report is publicly available.
The public portion of every report is accessible below with the aid of search and filtering tools. In addition, data from the public portion of all reports has been compiled in a data set that is available for download in three formats: CSV | XML | JSON.
One filtering option available below is for “Part I.A deficiency rate.” This data point indicates, as a percentage of the number of audits reviewed in a particular inspection, the number of audits with respect to which the inspection identified audit deficiencies of such significance that it appeared that the firm, at the time it issued its audit report, had not obtained sufficient appropriate audit evidence to support its opinion on the issuer’s financial statements and/or internal control over financial reporting. The displayed percentage is readily ascertainable from the public portion of the report, but it should be understood in light of contextualizing information provided with each report, including: (1) It relates only to the audits inspected and is not a measure of the frequency of such deficiencies throughout all of the firm’s audits; (2) It does not indicate any positive assurance concerning the inspected audits that are not included in the percentage; (3) For various reasons, inspection results are not necessarily comparable over time or among firms; and (4) Inspection reports are not intended to serve as overall rating tools.