The Public Company Accounting Oversight Board released its 2025 inspection results showing a significant drop in audit deficiencies. The overall Part I.A deficiency rate fell to 23% in 2025, down from 38% in 2024 and 46% in 2023. The Big Four firms saw their deficiency rate decline to 8%, while non-affiliated firms inspected annually dropped to 18%. The board attributed the improvement to sustained focus on quality control, accountability, and technology use. These findings suggest that recent measures to enhance audit execution are producing positive results for investor protection.
Read the full story at tax.thomsonreuters.com.
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