According to the 2018 Survey of Inspection Findings (survey) by the International Forum of Independent Audit Regulators (IFIAR), the incidence of firms having at least one finding in the area of independence requirements has continued to decline over the past five (5) years. The survey, IFIAR's 7th, collected information on the inspection results reported to audit firms that are members of the six (6) largest global audit firm networks:
- BDO
- Deloitte
- Ernst & Young
- Grant Thornton
- KPMG
- PricewaterhouseCoopers
IFIAR is a member organization of 55 independent audit regulators, including the US Public Company Accounting Oversight Board (PCAOB).
Inspections address both individual engagements and firm-wide systems of quality control. Regarding the latter, results included (in part) the following: