News & Insights

Auditor Liability Bulletin

May 24, 2024

PCAOB Chair Williams Delivers Remarks at PCAOB Forum for Auditors of Small Businesses and Broker-Dealers

On May 22, 2024, PCAOB Chair Erica Y. Williams delivered remarks at the PCAOB’s Forum on Auditing in the Small Business Environment and on Auditing Broker-Dealers.  Chair Williams discussed the Board’s work to modernize standards and rules over the last two years, including efforts to ensure that its rules and standards are scalable for firms of all sizes.  Chair Williams also noted the Board’s efforts to provide additional information and observations from its inspections program though enhanced inspection reports and new publications providing inspection insights.  With respect to broker-dealer audits, Chair Williams noted that that overall deficiency rates in broker-dealer engagements remain unacceptably high and discussed a recent PCAOB Spotlight providing insights to help auditors address challenges with broker-dealer audits.

Chair Williams’ remarks are available here.