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US audits with deficiencies rise in 2021 to 33 percent of all reviewed, PCAOB finds

( December 8, 2022, 15:33 GMT | Official Statement) -- MLex Summary: Audits with deficiencies at audit firms inspected by the Public Company Accounting Oversight Board increased in 2021. About 33 percent of audits reviewed will have at least one deficiency, up from 29 percent in 2020. Noting that PCAOB's initial communications with firms about potential deficiencies have also risen in 2022, agency chief Erica Williams said, "The audit profession needs to sharpen its focus on improving audit quality and protecting investors." PCAOB is supervised by the US Securities and Exchange Commission. Statement follows below:...

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