The firm selected for testing a control that consisted of management's review of manual journal entries. The firm did not identify and test any controls over the accuracy and completeness of certain data and reports that the control owners used in the operation of this control. (AS 2201.39)
The firm selected for testing a control that consisted of the issuer's review of manual journal entries. The firm did not identify and test any controls over the completeness of a system-generated report used in the operation of this control. (AS 2201.39) Unrelated to our review the issuer reevaluated its controls over journal entries and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report.
Both financial statement and ICFR audits · full report
China · PricewaterhouseCoopers International Limited
Journal Entries
Accuracy/completeness of client data not tested
The firm identified fraud criteria for journal entries and obtained system-generated reports from which it made its selections for testing. The system-generated reports provided by the issuer omitted key information necessary for the firm to make its selections based on certain of the identified fraud criteria. The firm did not perform procedures to evaluate the impact of the omitted information on its ability to identify and select journal entries for testing that met certain of the identified fraud criteria. (AS 2401.61)
Both financial statement and ICFR audits · full report
The firm selected for testing a control that consisted of the issuer's review of recorded manual journal entries. The firm did not identify and test any controls over the accuracy and completeness of the reports used in the operation of this control. (AS 2201.39)
Both financial statement and ICFR audits · full report