What does PBC stand for in auditing?

The term PBC in auditing stands for "Provided By Client." This designation is important as it refers to the documentation or information that the auditor needs to obtain from the client in order to conduct a thorough audit. The PBC request list typically includes documents related to financial statements, internal controls, and other pertinent records. By having this information provided by the client, auditors can evaluate the accuracy and completeness of the client's financial reporting, which is essential for assessing compliance and overall audit readiness.

In the context of auditing practices, understanding the significance of the PBC process ensures that auditors can effectively plan their audits, allocate resources appropriately, and establish timelines for the review process. It's a critical aspect that facilitates communication between the auditor and the client, promoting efficiency and clarity throughout the auditing process.