Explorer

The firm's internal inspection program inspected this audit and reviewed these areas but did not identify the deficiencies below. During the year the issuer acquired certain businesses and engaged a specialist to assist in determining the fair value of consideration for the acquisitions and certain acquired assets. The firm used an auditor-engaged specialist to assist it with testing the fair value of the consideration for the acquisitions. The following deficiencies were identified: · The firm did not identify that the auditor-engaged specialist did not perform procedures to evaluate the relevance of certain external data the company's specialist used to develop significant assumptions. (AS 1105.A8a; AS 1210.09 and .12)

During the year the issuer acquired certain businesses and engaged an external specialist to estimate the fair value of certain acquired intangible assets. The firm did not test the data used by the external specialist to estimate the fair value. (AS 1210.12)

During the year the issuer acquired a business and engaged a specialist to estimate the fair value of the acquired intangible assets and goodwill at the acquisition date. The firm's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not perform any substantive procedures to test the completeness existence and accuracy of the other assets acquired and liabilities assumed at the acquisition date. (AS 2301.08)

During the year the issuer acquired a business and engaged a specialist to estimate the fair value of the acquired intangible assets and goodwill at the acquisition date. The firm's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not perform any substantive procedures to test the fair value of the other assets acquired and liabilities assumed at the acquisition date. (AS 2501.07)

During the prior year the issuer acquired a controlling interest in a business and during the current year engaged a specialist to estimate the final fair value of the non-controlling interest. The firm did not evaluate whether the model the company's specialist used to determine the fair value was appropriate under the circumstances. (AS 1105.A8c)

During the year the issuer acquired several businesses and engaged a specialist to determine the fair value of the acquired intangible assets and goodwill at the acquisition dates. The following deficiencies were identified: · The firm did not perform substantive procedures to test certain acquisitions beyond obtaining and reading the issuer's accounting memorandum and the valuation reports prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2301.08)

During the year the issuer acquired several businesses and engaged a specialist to determine the fair value of the acquired intangible assets and goodwill at the acquisition dates. The following deficiencies were identified: · The firm did not perform substantive procedures to test another acquisition beyond obtaining and reading the purchase agreement settlement statement and valuation report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2301.08)

During the year the issuer acquired certain businesses and engaged specialists to determine the fair value of certain assets and contingent consideration at the acquisition date. The following deficiencies were identified: · The firm did not perform substantive procedures to test the fair value of these assets and the contingent consideration beyond obtaining and reading the company's specialists' reports. Further the firm did not perform any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10; AS 2501.07)

During the year the issuer acquired certain businesses and engaged specialists to determine the fair value of certain assets and contingent consideration at the acquisition date. The following deficiencies were identified: · The firm did not perform any substantive procedures to test the existence of the other assets acquired and the completeness of the liabilities assumed. (AS 2301.08)

During the year the issuer acquired certain businesses and engaged specialists to determine the fair value of certain assets and contingent consideration at the acquisition date. The following deficiencies were identified: · The firm did not perform any substantive procedures to test the fair value of the other assets acquired and the liabilities assumed. (AS 2501.07)

During the year the issuer acquired a business and engaged a specialist to estimate the fair value of the acquired intangible assets. The firm did not perform procedures to test the fair value of the acquired intangible assets beyond obtaining and reading the company's specialist's draft valuation report and an issuer-prepared purchase price allocation schedule. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; 2501.07)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform procedures to test the fair value of certain intangible assets beyond obtaining and reading the company's specialist's valuation reports and the purchase price allocations. Further the firm did not perform procedures beyond assessing the knowledge skills and ability of the company's specialist and the specialist's relationship to the issuer with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A6 - .A10; AS 2501.07)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform procedures beyond obtaining and reading the issuer's purchase price allocation to test the fair value of certain other intangible assets. (AS 2501.07)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform procedures to test the tangible assets acquired and liabilities assumed at the acquisition dates for these acquisitions. (AS 2301.08)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform any procedures to test the purchase consideration for these acquisitions including certain contingent consideration. (AS 2301.08; AS 2501.07)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of disclosures related to these business combinations required by FASB ASC Topic 805 and FASB ASC Topic 820. (AS 2810.30 and .31)

During the year the issuer acquired certain businesses and engaged a specialist to estimate the fair value of the acquired intangible assets and contingent consideration. The firm did not perform procedures to test the fair value of the intangible assets and contingent consideration beyond obtaining and reading the company's specialist's valuation reports and the purchase price allocation for one of the business combinations. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07)

During the year the issuer acquired a business and engaged a specialist to determine the fair values of the acquired intangible assets and the provision for contingent consideration to be paid to the seller. The firm's approach for substantively testing the fair values of the acquired intangible assets was to develop independent expectations of the estimates. The following deficiencies were identified: · The firm did not test or test any controls over the accuracy and/or completeness of certain data produced by the issuer and used by the firm in developing its independent expectations. (AS 1105.10)

During the year the issuer acquired a business and engaged a specialist to determine the fair values of the acquired intangible assets and the provision for contingent consideration to be paid to the seller. The firm's approach for substantively testing the fair values of the acquired intangible assets was to develop independent expectations of the estimates. The following deficiencies were identified: · The firm did not perform procedures to demonstrate it had a reasonable basis for certain assumptions it independently derived. (AS 2501.22)

During the year the issuer acquired a business and engaged a specialist to determine the fair values of the acquired intangible assets and the provision for contingent consideration to be paid to the seller. The firm's approach for substantively testing the fair values of the acquired intangible assets was to develop independent expectations of the estimates. The following deficiencies were identified: · For two of the acquired intangible assets the firm did not evaluate the relevance of certain external data it used to develop its independent expectations. (AS 1105.04 and .06)

During the year the issuer acquired a business and engaged a specialist to assist in determining the fair values of certain acquired assets and the related liabilities as of the acquisition date using various significant assumptions. This specialist also assisted the issuer in determining the fair values at year end. The following deficiencies were identified: · The issuer used a service organization to process and record transactions related to certain of these assets and the related liabilities which was the source of certain data used by the company's specialist. The firm's approach to testing these data upon acquisition and year end included reliance on controls at the service organization. The firm did not perform procedures to test or test the operating effectiveness of certain complimentary user controls over these data that were identified in the service auditor's report. (AS 1105.A8a; AS 2601.14)

The firm used an auditor-engaged specialist to assist it with testing the fair values of certain assets and the related liabilities at year end which were determined by one of the company's specialists. The following deficiencies were identified: · The firm did not sufficiently evaluate the appropriateness of the methods used by the company's specialist for this category of these assets and the related liabilities because it did not evaluate whether certain other information used was relevant to the estimate. (AS 1105.A8c)

During the year the issuer acquired a business and engaged a specialist to assist it in determining the fair values of certain acquired assets. The firm selected for testing a control that included the issuer's comparison of fair values determined by the company's specialist to fair values included in a separate valuation report received by the issuer. The firm did not identify and test any controls over the reasonableness of the fair values included in the separate valuation report used in the operation of this control. (AS 2201.39)

The firm used an auditor-employed specialist to assist it with testing the fair values of these acquired assets which were determined by the company's specialist. The auditor-employed specialist's approach consisted of developing independent expectations consisting of a range of the fair values for a selection of these assets. The firm did not identify that the work of the auditor-employed specialist did not provide sufficient appropriate audit evidence because it did not evaluate whether the independent expectations of the fair values as a range encompassed only reasonable outcomes and were supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25)

During the year the issuer acquired multiple businesses and engaged specialists to assist it in determining the fair values of certain acquired assets using various significant assumptions. The following deficiency was identified: · For certain acquired intangible assets the firm did not perform any procedures to evaluate the relevance and reliability of certain information that the issuer used to develop certain of these assumptions. (AS 1105.04 and .06)

During the year the issuer acquired multiple businesses and engaged specialists to assist it in determining the fair values of certain acquired assets using various significant assumptions. The following deficiency was identified: · For firm did not perform procedures to test the fair values of certain tangible assets acquired and liabilities assumed beyond reading an issuer-prepared memorandum. (AS 2501.07)

During the year the issuer acquired multiple businesses and engaged specialists to assist it in determining the fair values of certain acquired assets using various significant assumptions. The following deficiency was identified: · In its testing of the fair values of certain other acquired tangible assets the firm used a company's specialist's valuation report as audit evidence without performing procedures to evaluate the work of this specialist. (AS 1105.A1-.A9; AS 2501.07)

During the year the issuer acquired multiple businesses and engaged specialists to assist it in determining the fair values of certain acquired assets using various significant assumptions. The following deficiency was identified: · For two of these business combinations the firm did not perform any procedures to test whether any deferred tax liabilities should have been recognized in connection with the business combinations. (AS 2301.08)

The firm used an auditor-employed specialist to assist it with testing the fair values of certain acquired assets which were determined by the company's specialists. The following deficiency was identified: · In testing the fair values of certain acquired tangible assets the firm did not identify that the auditor-employed specialist did not evaluate the relevance and/or reliability of certain external information used by another of the company's specialists or the auditor-employed specialist. (AS 1105.04 .06 and .A8a; AS 1201.C6 and .C7)

During the year the issuer entered into a transaction and engaged a specialist to assist it in determining the fair value of a certain liability recorded in connection with the transaction. The following deficiencies were identified: · The issuer recognized another liability in connection with this transaction. The firm did not evaluate whether the issuer appropriately assessed certain relevant information when it calculated this liability. (AS 2301.08 and .11)

The firm did not perform any substantive procedures to test the fair value of inventory acquired in a business combination beyond obtaining a preliminary valuation report from the issuer-engaged specialist. (AS 2502.15)

During the year the issuer acquired a business and used an external specialist to determine the fair values of the acquired intangible assets and property plant and equipment ('PP&E'). The firm's approach for testing the fair value of these acquired assets was to review and test management's process. The firm did not perform any procedures beyond inquiring of management to test the forecasted cash flows that were provided to the external specialist. (AS 1210.12)

The firm's approach for testing the fair value of acquired intangible assets was to review and test management's process. The firm did not perform any procedures beyond inquiring of management to test the forecasted cash flows after the first forecasted year that were provided to the external specialist to value the acquired intangible assets. (AS 1210.12)

During the year the issuer acquired a business and used an external specialist to determine the fair values of the acquired intangible assets. The firm did not determine the likely sources of potential misstatement related to the accounting for the business combination and did not identify and test any controls that addressed the risks associated with the business combination. (AS 2201.30 and .39)

During the year the issuer acquired certain businesses and engaged an external specialist to estimate the fair value of certain acquired assets. The issuer provided the external specialist prospective financial information and data that was used to determine the fair value of the assets. The firm's approach for testing the fair value of these assets was to review and test management's process. The firm did not perform any procedures to evaluate the reasonableness of the prospective financial information. (AS 1210.12)

During the year the issuer acquired certain businesses and engaged an external specialist to estimate the fair value of certain acquired assets. The issuer provided the external specialist prospective financial information and data that was used to determine the fair value of the assets. The firm's approach for testing the fair value of these assets was to review and test management's process. The firm did not test the accuracy and/or completeness of the issuer-provided data. (AS 1210.12)

During the year the issuer entered into a transaction and engaged a specialist to assist it in determining the fair value of certain long-lived assets recorded in connection with the transaction. The following deficiencies were identified: · The firm did not identify and test any controls over the accuracy of certain issuer-produced data that the company's specialist used to determine the fair value of these long-lived assets. (AS 2201.39)

During the year the issuer entered into a transaction and engaged a specialist to assist it in determining the fair value of certain long-lived assets recorded in connection with the transaction. The following deficiencies were identified: · The firm did not test or test any controls over the accuracy of these issuer-produced data that the company's specialist used to determine the fair value of these long-lived assets. (AS 1105.A8a)

During the year the issuer acquired a business. The following deficiencies were identified: · The issuer engaged a specialist to determine the fair values of certain acquired assets as of the acquisition date. The firm did not perform procedures to test or test controls over the accuracy of certain issuer-produced data used by the company's specialist to determine the fair values of these assets. (AS 1105.A8a)

During the year the issuer completed multiple business combinations. The firm selected for testing a control that included a review of the data and assumptions used to value the acquired intangible assets but the firm did not test this aspect of the control for those business combinations for which the issuer had not yet received a final valuation report from an external valuation specialist as of year end. (AS 2201.42 and .44)

The issuer engaged an external specialist to assist in determining the fair value of certain intangible assets acquired in a business combination. The following deficiency was identified: · The firm did not perform any procedures to test or test any controls over the accuracy of certain data that the issuer provided to the company's specialist and used by the specialist to develop an assumption that was then used by the specialist to determine the fair value of certain intangible assets acquired in the business combination. (AS 1105.A8a)

The issuer engaged an external specialist to assist in determining the fair value of certain intangible assets acquired in a business combination. The following deficiency was identified: · The firm did not perform procedures beyond documenting that certain disclosures were not material to evaluate whether the issuer made all required disclosures related to the business combination in conformity with FASB ASC Topic 805 Business Combinations. (AS 2301.08)

The issuer engaged an external specialist to determine the fair value of intangible assets acquired in a business combination. The firm did not sufficiently evaluate the financial projections used to value the acquired intangible assets because it limited its procedures to (1) inquiring of management (2) comparing projected sales prices to current sales prices without performing procedures to evaluate whether the current sales prices represented a reasonable expectation of future sales prices and (3) comparing the projected sales quantities to certain industry information without performing procedures to evaluate the relevance and reliability of that industry information. (CAS 500.07 and 08; CAS 540.15 and 18)

During the year the issuer acquired a business and used an external specialist to estimate the fair value of certain of the acquired intangible assets. The firm's approach for substantively testing the fair value of the acquired intangible assets was to review and test management's process. The following deficiencies were identified: · The firm did not identify and evaluate the significance of the issuer's omission of a required disclosure under FASB ASC Topic 805 Business Combinations. (AS 2810.30 and .31)

During the year the issuer acquired a controlling interest in a business and engaged a specialist to estimate the fair value of both an acquired intangible asset and the acquired business. The firm's approach for substantively testing the fair value of each was to test the issuer's process. The following deficiencies were identified: - The firm did not sufficiently evaluate the relevance and reliability of certain data from sources external to the issuer that were used by the company's specialist in developing certain assumptions because it limited its procedures to inquiry of the company's specialist and obtaining information from the company's specialist. (AS 1105.A8a)

During the year the issuer acquired multiple businesses and engaged a specialist to assist it in determining the fair values of certain acquired assets using various significant assumptions. The following deficiency was identified: · For one of these business combinations the fair value measurement of acquired customer relationships resulted in a negative balance and the issuer concluded that an associated intangible asset did not exist. The firm did not evaluate whether the negative fair value represented future contract losses and should have been recorded as an assumed liability in conformity with FASB ASC Topic 805 Business Combinations. (AS 2301.08)

The firm used an auditor-engaged specialist to assist it with testing the fair value of an acquired asset which was determined by the company's specialist. The auditor-engaged specialist's approach consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value as a range. The following deficiency was identified · The firm did not evaluate whether the auditor-engaged specialist's independent expectation of the fair value as a range encompassed only reasonable outcomes and was supported by sufficient appropriate audit evidence. (AS 1210.09 and .12; AS 2501.25) In connection with our review the issuer reevaluated its accounting for this asset and determined that an error existed that had not been previously identified. The issuer corrected this error in a subsequent filing.

The firm used an auditor-engaged specialist to assist it with testing the fair value of an acquired asset which was determined by the company's specialist. The auditor-engaged specialist's approach consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value as a range. The following deficiency was identified · The firm did not perform any procedures to evaluate the relevance and reliability of certain information used by the auditor-engaged specialist to develop its independent expectation. (AS 1105.04 and .06; AS 1210.09 and .12) In connection with our review the issuer reevaluated its accounting for this asset and determined that an error existed that had not been previously identified. The issuer corrected this error in a subsequent filing.

The firm used an auditor-engaged specialist to assist it with testing the fair value of an acquired asset which was determined by the company's specialist. The auditor-engaged specialist's approach consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value as a range. The following deficiency was identified · The firm did not identify and evaluate that the issuer incorrectly recorded the fair value of the acquired asset determined by the company's specialist. (AS 2810.30) In connection with our review the issuer reevaluated its accounting for this asset and determined that an error existed that had not been previously identified. The issuer corrected this error in a subsequent filing.

During the year the issuer acquired multiple businesses and engaged a specialist to assist it in determining the fair values of certain acquired assets using various significant assumptions. The following deficiency was identified: · For one of these business combinations the firm used an auditor-engaged specialist to assist it with testing the fair value of another acquired asset which was determined by the company's specialist. The firm did not perform any procedures to evaluate the relevance and reliability of certain information used by the company's specialist in determining the fair value of this asset. (AS 1105.A8a)