backOn December 5, 2024, the PCAOB Staff released a “Spotlight” report containing insights on culture and audit quality. In the report, Staff noted the following key insights: (1) an audit firm’s culture can have a positive or negative effect on the firm’s ability to deliver a quality audit; (2) audit firms with cultures that prioritize centralization of the audit firm structure and standardization of audit processes may experience higher audit quality; (3) the remote/hybrid work environment affects firm culture; and (4) audit firms may have room to improve in creating cultures of accountability.
The report is available here.