Revised 2022 PCAOB Large Firm Inspection Reports Analysis

A new version of the Update’s summary and analysis of the 2022 Public Company Accounting Standards Board’s inspection reports for the U.S. affiliates of the six global network audit firms has been posted on www.auditupdate.com, the Update’s website.  2022 PCAOB Large Firm Inspection Reports – Updated includes the unredacted KPMG 2022 inspection report. 

On February 28, the PCAOB released the 2022 inspection reports for the six global network firms.  However, the version of KPMG’s 2022 report released in February omitted discussion of one of the 54 KPMG engagements inspected in 2022.  The March 2024 Update included a summary and analysis of the 2022 large firm inspection reports, although some aspects of the analysis were incomplete due to the redactions.  See 2022 PCAOB Large Firm Inspection Reports, March 2024 Update.

On April 26, the PCAOB made public a complete version of KPMG’s 2022 PCAOB inspection report.  See Unredacted: KPMG’s 2022 Inspection Report, April 2024 Update.  2022 PCAOB Large Firm Inspection Reports – Updated reflects the additional information that became available when the PCAOB released the unredacted KPMG report.