PwC Reports Jump in Audit Flaws, Follows EY, Deloitte Trend (2)

PwC LLP said Monday that the number of its flawed audits flagged by US inspectors more than doubled in 2022 even as the Big Four firm rolls out a series of reforms meant to bolster its reviews of corporate accounting.

The US audit regulator is expected to report that PwC had violations in five out of 54 audits reviewed, compared to just two problem engagements the year before, the firm said in a midyear update on its audit quality.

“We are proud of our record of profession-leading PCAOB inspection results,” the update said, referring to the Public Company Accounting Oversight ...