PCAOB Approves the Big Four's Auditing

October 2004
Strategic Finance;Oct2004, Vol. 86 Issue 4, preceding p1
The article reports that the U.S. Public Company Accounting Oversight Board (PCAOB) released its first set of inspection reports for 2004 and found that the Big Four firms missed "significant audit and accounting issues." In spite of this finding, the PCAOB concluded that none of the oversights resulted in a reduction in earnings or shareholder losses. The article details the PCAOB issues, which centered on misclassification of revolving lines of credit and issues with quality control.


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