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Sarbanes-Oxley News & Developments
PCAOB: Auditor Judgment Under ScrutinyResponding to corporate complaints, the PCAOB says inspections of audit firms this year will examine whether audits were cost-effective and properly focused on controls that posed the greatest risks.
> > Did audit firms use more judgment and fewer checklists when auditing internal controls last year? And were audits cheaper as a result?
The PCAOB said its inspectors will be checking the degree to which audit firms have integrated the financial statement and internal control audits
Source: CFO
Published:2006-05-04
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