Explorer

During the year the issuer acquired a business and engaged a valuation specialist to determine the fair value of the acquired intangible assets. The firm's approach for substantively testing the fair value of acquired intangible assets was to test the issuer's process and the firm used an auditor-engaged specialist to evaluate the significant assumptions the company's specialist used. The firm did not sufficiently evaluate the reasonableness of the significant assumptions because it did not identify that the auditor-engaged specialist did not (1) perform procedures beyond inquiry of the company's specialist to evaluate the reasonableness of the significant assumptions that were developed by the issuer and the company's specialist and (2) evaluate the relevance and reliability of the external data that the company's specialist used to develop certain assumptions. (AS 1105.A8a and .A8b; AS 1210.09 and .12; AS 2501.16)

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)

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 perform sufficient procedures to evaluate the reasonableness of certain significant assumptions because it limited its procedures to evaluating the consistency of the assumptions with industry information. Further the firm did not evaluate significant differences between the assumptions and the industry information. (AS 1105.A8b)

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 certain businesses and engaged an external specialist to estimate the fair value of certain acquired intangible assets. The firm did not evaluate the reasonableness of assumptions used by the external specialist to estimate the fair value. (AS 2502.26 and .28)

For certain other business combinations the firm did not evaluate the reasonableness of the estimated useful lives of the acquired intangible assets. (AS 2501.07)

During the year the issuer acquired certain businesses. The firm did not perform audit procedures beyond reading the issuer-prepared memoranda merger agreements and related acquisition documents to understand the issuer's process in determining fair value measurements and disclosures including the data and assumptions that were used in the analyses in order to plan the nature timing and extent of the audit procedures. (AS 2502.11)

During the year the issuer acquired certain businesses. The firm did not test the fair values of the acquired intangible assets and test the measurement of goodwill. (AS 2502.26 and .28)

During the year the issuer acquired certain businesses. The firm did not test the presentation and disclosure of certain acquisitions in the notes to the financial statements. (AS 2502.43)

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 sufficient substantive procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because the firm limited its procedures to obtaining issuer-prepared documents. (AS 2501.16)

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 or in the alternative identify and test controls over the accuracy and completeness of those documents. (AS 1105.10)

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 evaluate the reasonableness of other significant assumptions developed by the issuer. (AS 2501.16)

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 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 the reasonableness of certain significant assumptions the company's specialist developed and used. (AS 1105.A8b)

During the year the issuer acquired certain businesses. The firm did not perform substantive procedures to test the acquisitions beyond testing the valuation of stock that was issued in connection with the acquisitions. (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 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. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of disclosures related to this business combination required by FASB ASC Topic 350 FASB ASC Topic 805 Business Combinations and FASB ASC Topic 820. (AS 2810.30 and .31)

During the year the issuer acquired certain businesses. The following deficiencies were identified: · The firm did not perform procedures to test the fair value of the intangible assets beyond obtaining and reading the purchase price allocation for one of the acquisitions. (AS 2501.07)

During the year the issuer acquired certain businesses. The following deficiencies were identified: · The firm did not perform any procedures to test the existence completeness and fair value of the tangible assets acquired at the acquisition dates for these acquisitions. (AS 2301.08; AS 2501.07)

During the year the issuer acquired certain businesses. The following deficiencies were identified: · The firm did not perform any procedures to test the purchase consideration for these acquisitions including contingent consideration. (AS 2301.08; AS 2501.07)

During the year the issuer acquired certain businesses. 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 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)

The firm did not identify and evaluate the issuer's omission of disclosures related to this business combination required by FASB ASC Topic 820. (AS 2810.30 and .31)

During the year the issuer acquired a business. The following deficiencies were identified: · The firm did not perform procedures beyond obtaining and reading the issuer's purchase price allocation schedule to test the fair value of the acquired 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 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 entered into a reverse merger agreement. The firm did not perform any procedures to evaluate whether the issuer's accounting for this transaction was in conformity with FASB ASC Topic 805 Business Combinations. (AS 2301.08)

During the year the issuer acquired a business. The following deficiencies were identified: · The firm did not perform any procedures to test the existence completeness and valuation of the tangible assets acquired and the liabilities assumed at the acquisition date. (AS 2301.08; AS 2501.07)

During the year the issuer acquired a business. The following deficiencies were identified: · The firm did not perform any procedures to test the purchase price. (AS 2301.08)

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)

The firm did not identify and evaluate the issuer's omission of disclosures related to these business combinations required by FASB ASC Topic 350 and FASB ASC Topic 805. (AS 2810.30 and .31)

During the year the issuer acquired a business. The firm did not test the reasonableness of the expected gross margin the issuer used to estimate the fair value of acquired finished goods inventory. (AS 2502.26 and .28)

During the year the issuer acquired multiple businesses. The firm selected for testing controls over the accounting for business combinations including the issuer's reviews of the valuation of certain acquired assets. The firm did not evaluate the review procedures that the control owners performed including the procedures to identify items for follow up and the procedures to determine whether those items were appropriately resolved. (AS 2201.42 and .44)

During the year the issuer acquired multiple businesses. The firm selected for testing controls over the accounting for business combinations including the issuer's reviews of the valuation of certain acquired assets. The firm did not identify and test any controls over the valuation of certain other assets that were also acquired in the business combinations. (AS 2201.39)

During the year the issuer acquired multiple businesses. The firm performed certain substantive procedures but did not obtain sufficient appropriate audit evidence regarding the reasonableness of the projected financial information used by the issuer to determine the fair value of certain acquired intangible assets and contingent consideration. (AS 2502.26 .28 .31 and .36)

During the year the issuer created a subsidiary to purchase certain assets from a counterparty. The firm did not evaluate whether due to the terms in the agreement the subsidiary was a variable interest entity under FASB ASC Topic 810 Consolidation. (AS 2810.30)

The firm did not identify and evaluate the significance to the financial statements of omissions from a required disclosure under FASB ASC Topic 805 Business Combinations. (AS 2810.30 and .31)

The firm selected for testing a control that included the issuer's review of the reasonableness of the revenue-growth assumptions used in the valuation of certain assets acquired and liabilities assumed. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the revenue-growth assumptions. (AS 2201.42 and .44)

The firm did not identify and evaluate the significance to the financial statements of omissions from a required disclosure under FASB ASC Topic 805 Business Combinations. (AS 2810.30 and .31)

The firm selected for testing a control over the review of the valuation of assets acquired and liabilities assumed in a business combination. The firm did not evaluate the specific review procedures that the control owner performed to assess the accuracy of the inventory information used to determine the valuation of the inventory acquired. (AS 2201.42 and .44)

During the year the issuer acquired a business and the firm used labor hours from another timekeeping system in its testing of (1) contract assets acquired and liabilities assumed and (2) the acquired business' revenue and related accounts. The firm did not perform any procedures to test or test controls over the accuracy and completeness of these labor hours. (AS 1105.10)