Audits Under Fire: Ex-Big Four Partner Responds to Criticisms

The Accounting Podcast · Sep 7, 2023 · 1h 1m · transcript

Join us for an in-depth conversation with Jerry Maginnis, a retired Big Four audit partner, about the value and criticisms of financial statement audits.

Jerry draws on his decades of experience auditing public companies to respond to issues around audit quality, staff work conditions, complexity in accounting standards, and whether audits truly protect investors. He provides perspective on PCAOB inspections, the pass/fail system, and deficient audits.

Blake and David ask tough questions about audit fees increasing while staff salaries stagnate, whether accounting and auditing standards…