PCAOB Probing Deloitte Audit

PCAOB
Originally uploaded by governancefocus.

First formal investigation of a Big Four firm by the accounting regulator is inadvertently disclosed by the SEC.

The Public Company Accounting Oversight Board is investigating Deloitte & Touche LLP's 2003 audit of Navistar International Corp., according to Bloomberg, citing a document it says authorizes the probe.

This is the PCAOB's first formal probe of a Big Four firm, the wire service pointed out. Bloomberg also noted that the two-page order, issued in May, was inadvertently disclosed by the Securities and Exchange Commission.

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