Problem Audits are Worldwide

"Problem audits" aren't just a U.S. problem.

Big accounting firms are producing deficient audits around the world, according to a new survey of 30 countries' audit regulators—mirroring the experience in the U.S., where regulators have found deficiencies in more than a third of audits by major accounting firms that they have inspected in recent years.

This is from the Wall Street Journal's April 10, 2014 edition: 

http://online.wsj.com/news/articles/SB10001424052702303603904579492440320387248?KEYWORDS=Audit&mg=reno64-wsj

Here is the report:

https://www.ifiar.org/IFIAR/media/Documents/IFIARMembersArea/MemberUpdates/IFIAR-Inspection-Survey-9-April-2014_1.pdf