Inside Track with Broc:
Francine McKenna on Audit Industry Developments (3/11/13)
Francine McKenna is a journalist that blogs on re:theauditors.com and is a regular Forbes columnist, among others.
In this podcast, Francine delves into some of the latest audit industry developments, including:
Why should audit committees care about PCAOB inspection reports?
How can the audit committee learn more about a PCAOB inspection report? Should they ask the auditor? The PCAOB?
In what instances can a PCAOB inspection report be used in litigation against the auditor by the client or shareholder plaintiffs?
Is it the audit committee's responsibility or the auditor's to make sure the firm is independent? What if the auditor uses its member firms all over the world to complete the audit? What can happen if the audit firm is not independent?
What role does an external auditor play when there's a corporate investigation? Can the auditor be hired to perform an investigation of fraud or illegal acts? Should the auditor be hired to perform a corporate investigation? Advantages and disadvantages?
How to Listen to This Podcast:
Simply click on the link above and your computer likely will enable you to listen to the podcast (after a few moments, as Windows Media Player or RealPlayer launches and opens the audio file). If you don't have Windows Media Player or RealPlayer (or a similar software application), you should download one of those audio-players first. Also note that some members chose to download our podcasts to a MP3 player or iPod so that they can listen to the program away from their office.