Emphasizing that the audit inspection program is the most important aspect of the Public Company Accounting Oversight Board (PCAOB), new Chairman Demetrios Logothetis stated that the board will revise and modernize its inspections process to better protect investors.

During his first public appearance before the PCAOB’s Investor Advisory Group at board headquarters in Washington, D.C., on April 29, 2026, Logothetis said that his efforts are guided by one central question: Why does the PCAOB exist?

The board was created by Congress to prevent another accounting scandal like those that toppled companies such as Enron and Worldcom, causing investors to suffer massive losses more than two decades ago. Among other regulatory activities, the PCAOB’s audit inspection program has been credited with improving audit quality over the years.

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