We examine the association between Public Company Accounting Oversight Board (PCAOB) inspection reports and a firm's cost of equity capital, measured using seasoned equity offering (SEO) discounting. SEO discounting occurs when the offer price is lower than the prior day's market price of the...

On April 11, 2017, the Securities and Exchange Commission (SEC) announced charges against KPMG LLP – arising from their participation in a scheme to misappropriate and use confidential information relating to the Public Company Accounting Oversight Board's (PCAOB) planned inspections of KPMG....

On Sunday, February 26, 2017, PricewaterhouseCoopers (PwC) erred on live television when Brian Cullinan, PwC's U.S. Board Chairman and Managing Partner of PwC's Southwest region, handed to the announcers the wrong envelope for Best Picture at the 2017 Academy of Motion Picture Arts and Sciences...

After a lengthy and protracted debate, the Public Company Accounting Oversight Board (PCAOB) adopted new rules and related amendments to its auditing standards regarding the engagement partner and other accounting firms that took part in the audit (PCAOB 2015). The rules require disclosure of...