PCAOB Overreach Undermines Auditor Judgment, Impacting Businesses Nationwide
The PCAOB may not always stick to its own rules for setting auditing standards. Auditors were sometimes punished for not including certain evidence in their work papers, even if it wasn't required by the standards. This could change how auditors and managers behave and cost money. It's important for standard-setters to follow their own policies to make sure auditing standards are fair and efficient.