Christina points out that fewer than 5% of audits considered “deficient” actually result in incorrect opinions. She suggests that the PCAOB’s risk-based selection approach might be misrepresenting these metrics. She also highlights the unfair regulatory pressures that smaller audit firms face compared to the Big Four.
In a candid moment, Christina recounted being publicly criticized by Senator Elizabeth Warren for challenging the mainstream views on audit quality.
Listen now: https://podcast.earmarkcpe.com/88
