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"The military came in and did their audits," Castleman said.
In essence, that means their audits of publicly traded companies would not satisfy securities laws.
The firms generally praised the board and said they were working to improve their audits.
So far, PwC has stonewalled, saying they stand by their audits.
NSF officials said that for their audits, this was a low score.
Any compromise on how to handle cross-listing companies and their audits would by necessity be messy.
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"What does that say about their auditing?
Their auditing and tax-advice businesses are stagnant.
Or will they try tough love in their audit?
Could it have been the severing of their consulting businesses from their auditing clients?
EDF's auditors draw attention to this in their audit report.
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