SEC Chief Accountant James Schnurr says that, although "there's room for improvement" audit quality "is getting better" and the PCAOB has "deepened their expertise" and "their inspection process has matured."
There are no bad ideas.
Welp. After years of negotiation and Chairman Jim Doty saying this past summer that the PCAOB was "very close" to reaching an agreement to inspect audit firms in China, this happened:
Awhile back, we solicited questions from you all about what a career at the PCAOB as inspector might be like.
A superfecta of PCAOB enforcement orders hit the air yesterday, so let's take a looksee, shall we?
John White, a prominent lawyer with Cravath, Swaine & Moore, sits on the PCAOB's Standing Advisory Group. His wife, Mary Jo, chairs the SEC. She, along with the other commissioners, will choose the next PCAOB chair. Some people don't like how that looks:
In an Investor Advisory Group meeting held earlier this week, PCAOB Chairman James Doty said he hoped the third version of the Board's partner naming proposal would be finalized "by the end of the year."
Yesterday was the deadline for commenting on the PCAOB's concept proposal for disclosing the name of audit partners and "other participants in the audit."
Don't look. Okay, never mind, you should look.
The PCAOB, bless their hearts, released a forgettable inspection report from PwC today.