On June 1, 2020, the Public Company Accounting Oversight Board (PCAOB) issued the 2018 inspection reports for the six largest U.S. audit firms: Deloitte, EY, KPMG, PwC, BDO and Grant Thornton. These reports are delivered in a new, redesigned format – marking the first time the PCAOB made substantial changes to these reports since they were first issued more than fifteen years ago.

In this article, Audit Analytics describes the PCAOB’s newly designed inspection report and includes a guide that highlights key changes to the report and assists stakeholders in reading it.