The Public Company Accounting Oversight Board has released its latest inspection reports on Deloitte & Touche, Ernst & Young and Grant Thornton, and identified deficiencies with several of the audits it inspected.
The PCAOB posted the three reports on its Web site last Friday. In the report on Deloitte & Touche, dated Nov. 28, 2012, the PCAOB discussed audit deficiencies at 22 of the firm’s clients. The report said the PCAOB has inspected 52 audits performed by the firm in 2011, along with one other audit in which Deloitte played a role but was not the principal auditor. In 22 of the audits, the inspectors found deficiencies of various kinds.
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