The Public Company Accounting Oversight Board has made public previously confidential quality control criticisms from its 2009 inspection of Ernst & Young LLP after finding that the firm failed to address them to the board’s satisfaction.
On Thursday, the PCAOB released the nonpublic portions of its July 2, 2010 report on the U.S. firm. The deficiencies included problems with E&Y’s audits of management’s estimates, including evaluating the reasonableness of management’s assumptions at several of the firm’s audit clients.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access