US Audit Board Member Says Alarm Over Inspections Unwarranted

Oct. 18, 2024, 9:37 PM UTC

A member of the US accounting oversight board challenged the assessment from a pair of senators that audits are falling short of their promise to protect investors and accused the lawmakers of trying to “silence” her.

“The Senators’ alarmism is unwarranted,” Christina Ho, a member of the Public Company Accounting Oversight Board, said in a statement posted to her LinkedIn account Thursday. “The sky is not falling.”

Sens. Elizabeth Warren (D-Mass.) and Sheldon Whitehouse (D-R.I.) earlier this month called out the 46% deficiency rate from the PCAOB’s 2023 inspections cycle, calling the findings “profoundly troubling” and “exorbitantly high.”

  • Despite those ...

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