PCAOB Calls Out Two-Thirds of Audits at BDO USA

The Public Company Accounting Oversight Board inspected a sample of 24 audits conducted by BDO USA in 2016 and found that 16 audits contained nearly 100 separate violations of auditing standards, including 38 cases where the firm failed to comply with auditing standards governing the audit of internal controls over financial reporting.  BDO's deficiency rate of 67 percent is by far the highest across the eight largest audit firms.