abstract
In their investigation of the new PCAOB Inspections, Lennox and Pittman [Lennox,
C., Pittman, J., 2009. Auditing the auditors: evidence on the recent reforms to the
external monitoring of the audit firms. Journal of Accounting and Economics,
forthcoming] address one of the most important and controversial features of the
recent shift from self-regulation to government regulation in the US audit markets. In
this paper I attempt to place their investigations into the broader auditing and
regulatory literature, critique what we learn and do not learn from their analysis, and
make suggestions for future related research.
& 2009 Published by Elsevier B.V