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The public portion of the PCOAB inspection reports a. Describe matters that the PCAOB regards as...

The public portion of the PCOAB inspection reports

a. Describe matters that the PCAOB regards as significant audit deficiencies.

b. Describe matters that the PCAOB regards as insignificant audit deficiencies.

c. Describe areas in which a firm should improve quality controls over the audit practice.

d. Discuss less significant audit deficiencies

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Answer #1

Part I, the public portion of an inspection report, describes matters that the PCAOB regards as significant audit deficiencies. Audit deficiencies can include failures to perform required audit procedures and failures to identify or appropriately address potential GAAP misapplications in the financial statements.

Thus the answer is:-

a. Describe matters that the PCAOB regards as significant audit deficiencies.

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