Internal Controls in the Crosshairs: What the PCAOB's Inspection Results Mean for Your Company

Authors: Joseph Howell, Thomas Ray

Key takeaways: 
  • Actions audit firms have taken as a result of PCAOB scrutiny
  • How the SEC has increased its focus on ICFR
  • The importance of accurate documentation and a top-down, risk-based approach
  • Primary causes and a solution for a lack of quality evidence
internal controls in the crosshairs