{"id":2353,"date":"2022-12-13T15:20:58","date_gmt":"2022-12-13T20:20:58","guid":{"rendered":"https:\/\/seci.wpenginepowered.com\/?p=2353"},"modified":"2022-12-13T15:21:03","modified_gmt":"2022-12-13T20:21:03","slug":"pcaob-previews-2021-inspection-observations","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/pcaob-previews-2021-inspection-observations\/","title":{"rendered":"PCAOB Previews 2021 Inspection Observations"},"content":{"rendered":"\n<p>On December 8, 2022, the PCAOB issued a report titled \u201c<a href=\"https:\/\/pcaob-assets.azureedge.net\/pcaob-dev\/docs\/default-source\/documents\/staff-preview-2021-inspection-observations-spotlight.pdf?sfvrsn=d2590627_2\/\">Staff Update and Preview of 2021 Inspection Observations<\/a>\u201d.&nbsp; The report shows an increase in the number of audits with deficiencies at audit firms inspected in 2021.&nbsp; The report indicates that many of the areas that have historically been the source of audit deficiencies continue to be problematic.&nbsp; These include ICFR audit areas such as testing controls with a review element and identifying controls to test, and financial statement audit areas such as revenue recognition and inventory.&nbsp; In addition, deficiencies related to the reporting of critical audit matters increased in 2021 inspections.<\/p>\n\n\n\n<p>You can read more in this <a href=\"https:\/\/pcaobus.org\/news-events\/news-releases\/news-release-detail\/audits-with-deficiencies-increased-in-2021-according-to-new-pcaob-staff-report\">News Release<\/a> and the <a href=\"https:\/\/pcaob-assets.azureedge.net\/pcaob-dev\/docs\/default-source\/documents\/staff-preview-2021-inspection-observations-spotlight.pdf?sfvrsn=d2590627_2\/\">staff report<\/a>.<\/p>\n\n\n\n<p>As always, your thoughts and comments are welcome!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 8, 2022, the PCAOB issued a report titled \u201cStaff Update and Preview of 2021 Inspection Observations\u201d.&nbsp; The report shows an increase in the number of audits with deficiencies at audit firms inspected in 2021.&nbsp; The report indicates that many of the areas that have historically been the source of audit deficiencies continue to &hellip; <a href=\"https:\/\/seciblog.pli.edu\/index.php\/pcaob-previews-2021-inspection-observations\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">PCAOB Previews 2021 Inspection Observations<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[143,242],"tags":[],"coauthors":[154],"class_list":["post-2353","post","type-post","status-publish","format-standard","hentry","category-hot-topic","category-reporting"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/2353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=2353"}],"version-history":[{"count":0,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/2353\/revisions"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=2353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=2353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=2353"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=2353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}