The audit firm's comments came in a 2007 inspection report by the Public Company Accounting Oversight Board, which found fault with eight of Deloitte's public-company audits, the paper reported.

Deloitte contested inspectors' conclusions in two audits, and said it undertook additional work on the remaining six audits where inspectors faulted its efforts. Only a portion of the findings are publicly released each year, the paper reported.

"Deloitte & Touche is dedicated to conducting the highest quality audits," a spokeswoman said, according to the paper. "The PCAOB inspections are important, and the process is constructive and informative. The observations and comments from the inspectors will continue to be a key contributor in our efforts to improve our audit execution, methodologies and policies."-New York State Society of Certified Public Accountants