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U.S. Regulator to Expedite Review of Covid-Era Audits

Aug. 10, 2020, 8:59 PM

The U.S. audit regulator plans to speed up some of its inspection work to vet how the largest accounting firms are adjusting to their clients’ risks and accounting challenges stemming from the global pandemic.

Financial audits for companies with June 30 year-ends will be included in 2020 inspection work so that the Public Company Accounting Oversight Board can provide more timely feedback and guidance, board member Duane DesParte said Monday during an American Accounting Association discussion.

  • Typically PCAOB inspections lag behind by a year and 2020 financial statement audits wouldn’t be reviewed until next year. The board also plans ...

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