PANEL DISCUSSION AND QUESTIONS FROM THE ADUIENCE

Leslie F. Seidman: I looked at some summary statistics of the inspection reports for the Big Four. This year, 39% of the audits that were selected had deficiencies, and of those audits, 89% of them were related to internal controls, but it was hard to put these statistics in perspective while looking at a firm's 80-to 90-page report. It might be helpful to me, as the consumer of these reports, to have some distinction made between the things the auditor is concerned about, the things the PCAOB is concerned about, and the things of a more technical nature. Are you distinguishing among the severity of the findings, such as, “This is a good audit,” “This is an audit with some improvements necessary,” or “This is an audit with significant improvements necessary,” so I, as a consumer, can distinguish between the firms and the quality of the audits being done?