2023 Inspection Priorities.

Public Company Accounting Oversight Board inspectors outlined their priorities for 2023 inspections that increase the focus on fraud-related audit procedures, continue prioritizing risks related to material digital assets and continue selecting audits in the financial services sector for inspection, among other priorities.

Last year, the PCAOB found a year-over-year increase in the number of audits with deficiencies at audit firms that the PCAOB inspected in 2021 and challenged the audit profession to sharpen its focus on improving audit quality and protecting investors.

The full list of 2023 inspection priorities includes:

* Risk of fraud;

* Auditing and accounting risks;

* Risk assessment and internal controls;

* Financial services specific considerations;

* Broker-dealer specific considerations;

* M&A, including de-SPAC...