Using Storytelling to Apply Lessons from PCAOB Enforcements

Terri L. Herron, Casey J. McNellis

Research output: Contribution to journalArticlepeer-review


The real-life failures of others provide opportunities to learn. Audit failures and rule infractions stemming from Public Company Accounting Oversight Board (PCAOB) inspections represent the few instances for which detailed information about financial statement audits is made publicly available. The PCAOB enforcement reports contain key information and offer greater transparency in regard to the audits of SEC registrants. This project uses these reports to teach real-life lessons in the context of the complex regulatory environment in which registered audit firms operate. Students examine the information from these enforcements, and craft and present stories of the related audit failures. This approach has a proven impact on learning, and students who completed the project reported enhanced knowledge of the regulatory process and audit standards. The student presentations can be used in a professional environment for CPAs to earn CPE. We provide advice to faculty who wish to pursue a similar option.

Original languageEnglish
Pages (from-to)91-107
Number of pages17
JournalIssues in Accounting Education
Issue number2
StatePublished - May 2022


  • Audit standards
  • Auditor regulation
  • Enforcement reports
  • Ethics
  • Inspection reports
  • Storytelling


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