Big Four Firms Hold Audit Quality Steady as Second Tier Lags (1)

Top US accounting firms largely held steady on their regulatory compliance rates in 2023, snapping a two-year trend of rising audit rule violations, their latest inspection results show.

The rate of flawed audits improved at Ernst & Young LLP and KPMG LLP with slightly more problems reported among audits inspected at Deloitte LLP and PwC LLP, according to reports the Public Company Accounting Oversight Board released on Thursday.

Second-tier firms did not fare as well. BDO USA P.C. continued to struggle with US audit standards compliance when vetting corporate accounting, trailing its competitors with 86% of its inspected audits ...