PCAOB Inspection Reports - E&Y and KPMG

ＡＳ２改訂版ことＡＳ５（と巷で呼ばれ始めた）では、外部監査人がやることは減ることになるらしいけど、監査法人がどのように対応するのか気になっています。

ＰＣＡＯＢのＩｎｓｐｅｃｔｉｏｎ　ＲｅｐｏｒｔｓでＤｅｆｉｃｉｅｎｔ　Ａｕｄｉｔｓが指摘された監査法人は、どのようにＡＳ５にしつつ、ＰＣＡＯＢのＩｎｓｐｅｃｔｉｏｎ　Ｒｅｐｏｒｔにある指摘事項に対応するようにＡｕｄｉｔ　Ｐｒｏｇｒａｍをアップデートするのかな？

http://www.cfo.com/article.cfm/8540287?f=RegWatch011507

However, 20 of the 21 deficiencies cited in the E&Y and KPMG reports were not directly related to controls problems.

Instead, the board reported problems with the firms' audits of run-of-the-mill accounting issues.

Among the problems the PCAOB took the auditors to task for were poorly conducted audits related to lease and tax accounting, as well as revenue recognition and goodwill impairment testing.

In fact, PCAOB inspectors concluded that both E&Y and KPMG failed "to identify or appropriately address errors in the issuer's application of GAAP."

Those errors, it noted, were likely to have resulted in material misstatements by one of KPMG's clients and several of E&Y's clients.