The Public Company Accounting Oversight Board (PCAOB) has publicly released expanded portions of previously issued inspection reports for three audit firms: Assure CPA, LLC, Kronick Kalada Berdy & Co, P.C., and Michael T. Studer CPA P.C. This action, taken under PCAOB Rule 4009(d), signifies that these firms did not satisfactorily resolve identified quality control deficiencies within the one-year remediation period following the initial reports, which were dated May 23, 2024, May 11, 2023, and December 1, 2022, respectively.

These expanded reports highlight ongoing concerns regarding the firms' quality control systems and may indicate a heightened risk for investors and public companies relying on these firms for audit services. Regulated entities, particularly those audited by these firms, should be aware of these findings. While no specific compliance deadline is mentioned for the firms in this notice, the PCAOB's action implies continued scrutiny and potential further enforcement if deficiencies are not rectified. Other audit firms should review these actions as a reminder of the PCAOB's commitment to enforcing quality control standards.