In its report prepared for audit committees and other stakeholders in December 2014, "Our Commitment to Audit Quality," EY acknowledges that recent PCAOB findings indicate the need for improving audits of internal control over financial reporting (ICFR), increasing the focus on controls over the use of electronic audit evidence (EAE), scoping multi-location audits, auditing management's estimates, and performing substantive analytical procedures. In its opening letter in the report, the firm states: "At EY, the delivery of quality audits is central to our purpose, values, management processes...Our reputation is based on providing quality audit services objectively, independently, and with appropriate skepticism." Given the 50 percent audit deficiency rate cited by the PCAOB in its inspection of EY audits, would you conclude that the firm failed in its role to adequately protect the public interest?