Audit committees play a vital role in promoting high quality auditing through their oversight of the audit process and the auditor. An engaged and informed audit committee serves as an effective force multiplier in promoting audit quality for the benefit of investors. The Board has made it a strategic priority to interact more often and more directly with audit committees.

PCAOB Inspections

As part of the PCAOB inspections process, we reach out to nearly all of the audit committee chairs of the U.S. issuers whose audits we inspect and invite them to speak with us.

Basics of Inspections

Firm Inspection Reports

Resources for Audit Committees

The PCAOB is committed to providing timely and relevant information to audit committees in areas of common interest, including auditor independence, auditor communications with the audit committee, PCAOB inspections reports, audit quality, critical audit matters, among other topics. 

Resources for Audit Committees

Recent Updates

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May 21, 2024

Imposing a $400,000 fine, the PCAOB has sanctioned MaloneBailey, LLP for pervasive quality control violations.

Enforcement
May 14, 2024

The PCAOB has revised its standard-setting, research, and rulemaking agendas to reflect 2024 progress.

Standards
May 13, 2024

The PCAOB has adopted a new quality control standard with an integrated, risk-based approach designed to drive continuous improvement in audit quality.

Standards
May 13, 2024

To protect investors by solidifying the foundation of every audit, the PCAOB has adopted a new standard addressing general principles and responsibilities of the auditor when conducting an audit.

Standards