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November 22, 2017
The PCAOB Board inspectors have identified three areas where audit deficiencies were most frequent in 2016. The areas with most common deficiencies were:
The purpose of the PCAOB staff inspection was to assist audit firms in complying with PCAOB rules. The inspectors examined parts of more than 780 issuer audits, and also reviewed the systems of quality control at more than 190 firms.