March 2 (Bloomberg) -- The auditing profession’s top U.S.
overseer usually does a flawless job of safeguarding the most
embarrassing secrets of accounting firms and their corporate
clients. Fortunately, every now and then, the watchdog slips up.
Take the case of Kyoto Audit Corp., a Japanese affiliate of
the Big Four auditor PricewaterhouseCoopers. On Feb. 14, the
U.S. Public Company Accounting Oversight Board released its
first-ever inspection report on the Kyoto-based firm.