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PCAOB says broker-dealer audit problems remain despite improvements

circa 1956: A man checking French Franc notes for signs of forgery.
Photo: Three Lions/Getty Images

The PCAOB found deficiencies in two-thirds of the broker-dealer audits it reviewed.

Deficiencies in broker-dealer audits remained elevated in 2025, although results improved from 2024, the Public Company Accounting Oversight Board (PCAOB) said in its annual report.

The audits were carried out by accounting firms registered with the PCAOB. The board oversees firms that audit public companies and SEC-registered broker-dealers.

Although the report focused