U.S. Audit Watchdog Overhauls Inspection Plan to Asses Virus Impact
Please read the attached article, then pick two of the questions posed below to discuss in your post. You do not need to formally answer these as a paper submission, but discuss your thoughts, explain, and include prompting questions for your peers. (See the attached grading rubric for grading of discussion posts!).
Possible Questions to discuss in your post:
What is the notion of audit quality? Cite your source for this definition, whether from your textbook or elsewhere.
How does the work of the Public Company Accounting Oversight Board (PCAOB) help to ensure audit quality in relation to publicly traded companies?
What is the PCAOB inspection report? Use your textbook and/or obtain information here:https://pcaobus.org/inspections/Pages/default.aspx be sure to cite your source in your post.
Who thinks the PCAOB inspection report may be delayed due to the extensions of time granted during the Covid-19 pandemic? Is there a concern with this delay? Explain your answer.