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28 Oct 2008
After inspecting PricewaterhouseCoopers (PwC) operations in the UK, the Public Company Accounting Oversight Board (PCAOB) in the US has given the Big Four firm a clean bill of health.
In addition to evaluating the quality of the audit work performed on specific audits, PVAOB’s inspection included a review of some of the firm's practices, policies and procedures in relation to audit quality.
The report concluded the inspection team did not identify anything it would consider ‘a quality control defect that warrants discussion in a board inspection report’.
‘I am very pleased that no issues or criticisms are identified within the report and that you recognise the commitment of our partners and staff to the delivery of high quality audits which serve the public interest,’ Richard Sexton, PwC head of assurance, said in a letter to the PCAOB.
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Briefings
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