203. Investor-friendly audits? with Jack Ciesielski
Episode description
This week, we have a longtime friend on the show, Jack Ciesielski, CFA, CPA, MACPA member and owner of investment research firm R.G. Associates. Jack was recently quoted in a Wall Street Journal article about former inspectors who are calling for updates in the U.S. public-company auditing process. There are claims that while inspections are a useful tool to detect potential deficiencies in public companies, the reports are limited in scope, lacking details, and not released in a timely process. I speak to Jack about the PCAOB's investor advisory group - what it is and what it does, along with some of the biggest issues related to auditing that investors are concerned about. He also shares his thoughts about the issues presented in the WSJ article and what should be done to better help investors. Listen in to this timely conversation!
Resources:
- R.G. Associates, Inc.
- Jack Ciesielski LinkedIn Profile
- Wall Street Journal article, "Former Inspectors of Public-Company Audits Say Process Needs Retooling", by Mark Maurer
- PCAOB SPOTLIGHT, Staff Update and Preview of 2022 Inspection Observations