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PCAOB: Big Four Inspections Will Stay Private

PCAOB: Big Four Inspections Will Stay Private

by Rick Turoczy on March 22, 2006

The Public Company Accounting Oversight Board said this week that its inspections of the Big Four accounting firms will not be released to the public.

The board said it won’t make its August 2004 findings public because the firms — PricewaterhouseCoopers, Deloitte & Touche, Ernst & Young, and KPMG — had addressed the issues within the 12-month timeframe mandated by a provision of the Sarbanes-Oxley Act.

The act provides that “no portions of the inspection report that deal with criticisms of or potential defects in the quality control systems of the firm under inspection shall be made public if those criticisms or defects are addressed by the firm, to the satisfaction of the Board, not later than 12 months after the date of the inspection report.”

PCAOB: Big Four Inspections Will Stay Private

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