Audit Inspection Results Slide Among Largest US Firms (1)

Inspection results for five of the largest US accounting firms tumbled last year consistent with an overall rise in auditing shortcomings, their regulator said Monday.

Routine inspections of audits that largely covered 2020 financial statement work found more lapses compared to the prior year for Deloitte LLP, Ernst & Young LLP, PwC LLP, BDO USA LLP, and Grant Thornton LLP. Findings for KPMG LLP held steady, the results show.

The Big Four firms had a collective 35 audits with deficiencies, according to their 2021 inspection results, a jump from 25 the year before, according to reports the Public Company Accounting ...