After being elected president, Kim Young Sam brought Lee into government by naming him to head the Board of Audit and Inspection.
The Bill also includes proposals to create a new Commission for Healthcare Audit and Inspection, to inspect both the NHS and private healthcare sector, and a new Commission for Social Care Inspection.
The PCAOB can work on finding a way to see into the quality of Chinese-based audit firms, first through inspection observations and eventually via on-site inspections.
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In England, for example, burdensome inspection is being reduced and the Audit Commission abolished.
The report could be expedited because it does not name the audit firms inspected, unlike an individual public company auditor inspection report.
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It added that the school inspection body Estyn was working with the Wales Audit Office on a review which should be completed by the summer.
The Public Company Accounting Oversight Board, which regulates US audit firms, disclosed private portions of a Deloitte inspection report for 2007 that highlighted poor quality and administrative controls.
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An audit of 1, 400 child protection cases undertaken since the inspection in October, showed 70% were judged to be "adequate or better", the council said.
Progress towards the findings of the 2009 inspection "had not proved to be sustainable", the audit office report says.
In August of 2012, the Public Company Accounting Oversight Board, the US audit industry regulator, issued its first report on the auditors of broker-dealers under a pilot inspection program.
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Several allegations made in the FDIC complaint are supported by knowledge of the audit choices PwC made, or did not make, that most likely came from the workpapers, PCAOB inspection findings pertaining to Colonial, and the reluctant but compelling cooperation of PwC itself.
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