Explorer

The firm selected for testing a control over the review of the issuer's income tax provision. In its testing of the operating effectiveness of this control the firm did not evaluate whether an item identified by the control owner for follow up was appropriately resolved. (AS 2201.44)

The firm did not identify and test any controls that addressed the risk related to the issuer's compliance with transfer pricing regulations for intercompany transactions. (AS 2201.39)

The firm selected for testing controls that consisted of the issuer's preparation and review of its tax provision including the control discussed above. The firm did not test the aspects of these controls that addressed the income tax expense and deferred taxes recorded for the issuer's foreign operations other than the aspect related to the valuation allowance as discussed above. (AS 2201.42 and .44)

The firm identified a control deficiency related to inappropriate access for numerous users to the issuer's IT system that was used to process and record transactions related to revenue and income taxes. The firm did not sufficiently evaluate the severity of this control deficiency because it limited its evaluation to inspecting activity logs of the users that had inappropriate access. (AS 2201.62)

The firm identified a control deficiency related to inappropriate access for numerous users to the issuer's IT system that was used to process and record transactions related to revenue and income taxes. The firm identified and tested various controls that it believed would mitigate this deficiency. The firm did not identify that these compensating controls did not address the risks related to inappropriate access for these users. (AS 2201.68)

The issuer reported an income tax benefit from tax exemptions that a foreign tax authority granted the issuer. These exemptions were subject to compliance with certain conditions. The firm did not identify and test any controls that addressed whether the issuer met those conditions. (AS 2201.39)