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Audit firms and the PCAOB have had a tenuous relationship over the last 15 years. The role of the PCAOB is to oversee the audits
Audit firms and the PCAOB have had a tenuous relationship over the last 15 years. The role of the PCAOB is to "oversee the audits of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports." Essentially, they exist to improve audit quality. Audit firms have not been overly happy with the inspection process and feel it unnecessarily burdens their industry Do a little more research to support your opinion on the following: Has the PCAOB improved audit quality? Why or why not? - Has the inspection process been worth the added cost to auditors and their clients
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