PCAOB Protects: Auditing the Auditors 

Auditors have a critical job, verifying the financial reporting that underpins our capital markets.
Investors depend on auditors to bolster the reliability of financial information disclosed by public companies.
But who audits the auditors? The PCAOB.
Each year, we protect investors by inspecting hundreds of registered audit firms worldwide.
PCAOB inspectors check:
• Whether a firm is following PCAOB auditing standards designed to protect investors,
• How the firm maintains its system of quality control to ensure high-quality audits, and
• How the firm deals with risks, potential fraud, and other challenges.
For each inspection, the PCAOB publishes a report summarizing any deficiencies identified during the inspection.
Investors and audit committee members should review PCAOB inspection reports, which can help them assess the auditors of companies where they invest or serve on the board, respectively.
The reports can reveal which firms are consistently complying with PCAOB standards-and which are not.
Inspection insights can also be found in PCAOB Spotlight publications.
Spotlights provide staff observations that can help firms improve audit quality.
Sign up today for PCAOB inspection updates.
Get alerts when we publish inspection reports, Spotlights, or other material.
Visit www.pcaobus.org/investors for more resources and information.
This video was posted on May 15, 2024.