Audit Watchdog Identifies More Errors At Deloitte

Law360, New York (December 21, 2011, 2:53 PM EST) -- The Public Company Accounting Oversight Board released a report Tuesday outlining numerous deficiencies uncovered in an inspection of Deloitte & Touche LLP’s auditing procedures in 2010, including failures to identify financial misstatements.

The report comes two months after the agency rebuked the company for allegedly failing to address weaknesses in its 2007 audits and follows findings of deficiencies on the part of several of the company’s major accounting competitors.

The regulator identified problems in 26 of 58 audits conducted by the company that included failures to...
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