IFIAR publishes annual inspection findings survey

The International Forum of Independent Audit Regulators has published its annual inspection findings survey: see here (pdf). This year's survey was based on reports from 33 members and the review, in total, of 918 audits of public interest entities. The survey reports that 40% of the audits inspected had at least one "finding", i.e., a significant failure to satisfy the requirements of auditing standards.