Outside auditors were faulted for inadequate testing of potential broker-dealer fraud in three of the five 2014 b-d examinations reviewed by the Public Company Accounting Oversight Board.

In a report issued Wednesday, the agency said it also found weaknesses in testing for incomplete or inaccurate disclosures or presentations in financial statements. Revenue recognition problems were found in all of them.

PCOAB examiners look at the outside auditing of broker-dealer financial statements and the outsider auditors’ examinations of  broker-dealer compliance reports on file with the Securities and Exchange Commission, Financial Industry Regulatory Authority.

The agency did not disclose the names of the brokerages and the outside auditors.