U.S. Audit Regulator Redesigns, Simplifies Firm Scorecards (3)

The U.S. audit regulator unveiled a new scorecard Monday intended to give investors a more complete picture of how accounting firms performed in its annual reviews.

Two years in the making, the redesigned inspection reports respond to pleas from investors and other stakeholders for the Public Company Accounting Oversight Board to streamline the public documents so they are easier to read.

It marks the first substantial overhaul since the board issued its first report more than 15 years ago, the PCAOB said.

“Our inspection reports are one of the primary ways we ...