The following report provides an assessment of the PCAOB inspection process. This includes an analysis of how the PCAOB conducts its inspections, the pros and cons of this method, and the pros and cons of conducting inspections on public-company audits.
After evaluating several sources, who have researched the PCAOB, it seems that the risk-based approach of the inspections offers some advantages, as well as some disadvantages. The PCAOB inspection method provides a great tool in assessing the riskiest areas concerning the audit and allows inspectors to focus