Accounting firms accused of ‘operating with impunity’ as regulator flags growing number of flawed audits - ICIJ
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The U.S. regulator tasked with ensuring audit quality has found an uptick in deficiencies three years in a row. But its efforts to force auditors to change don’t seem to be working.

In a report released last week, the Public Company Accounting Oversight Board said that roughly 40% of audits it inspected in 2022 had such significant deficiencies that the audit firm did not have sufficient evidence to support the opinion it rendered on clients’ financial statements or financial reporting.