Explorer

The firm's internal inspection program inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58)

The firm did not appropriately consider the characteristics of potentially fraudulent journal entries when identifying and selecting journal entries for testing and instead haphazardly selected entries for testing. (AS 2401.61)

The firm did not identify and test any controls that addressed the risk that certain types of journal entries could be posted to the issuer's general ledger system without review or approval. (AS 2201.39)

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 identified fraud criteria for purposes of identifying and selecting journal entries for testing. In identifying journal entries that met the criteria the firm did not perform sufficient procedures because certain journal entries that met its criteria were not identified by the firm. (AS 2401.61)

The firm did not select journal entries and other adjustments for testing. (AS 2401.61)

For one of the issuer's subsidiaries the firm did not perform any procedures to identify and select journal entries and other adjustments for testing without having an appropriate basis for excluding that subsidiary. (AS 2401.61)

For another of the issuer's subsidiaries the firm identified journal entries that met certain criteria for testing. The firm did not examine the underlying support for the journal entries and instead limited its procedures to inquiry of management. (AS 2401.61)

The firm did not select journal entries and other adjustments for testing. (AS 2401.61)

The firm did not perform procedures to identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58)

The firm did not perform procedures to test the appropriateness of the issuer's accounting for certain changes to a significant account beyond obtaining external invoices. (AS 2301.08)

The firm identified journal entries that met certain fraud criteria. The firm judgmentally selected certain of those journal entries for testing without having an appropriate basis for limiting its testing to these journal entries. Further for journal entries meeting one of the identified fraud criteria the firm did not select any of the entries for testing. (AS 2401.61)

To identify and select journal entries for testing the firm identified fraud characteristics and obtained a list of all journal entries with these characteristics. The firm did not perform sufficient procedures to test those journal entries because it examined the underlying support for only certain journal entries without having an appropriate rationale for limiting its testing to those certain journal entries. (AS 2401.61)

For one of the issuer's business units the firm selected for testing a control that consisted of the control owner's review of a selection of journal entries for appropriateness. When evaluating the design of this control the firm did not evaluate the number of items the control owner reviewed to assess whether it was sufficient to address the risks of material misstatement. (AS 2201.42)

The firm selected for testing a control that consisted of the control owner's review of certain journal entries. The firm did not evaluate whether the design of this control was sufficient to address whether journal entries prepared and posted by the same individual were authorized and appropriate. (AS 2201.42)

The firm was instructed by the principal auditor to select for testing journal entries that met certain specified criteria. The following deficiency was identified: · The firm did not perform procedures to identify journal entries that met one of the criteria. (AS 2401.61)

The firm was instructed by the principal auditor to select for testing journal entries that met certain specified criteria. The following deficiency was identified: · The firm did not perform sufficient procedures to identify journal entries that met the remaining criteria because it limited its selection to certain journal entries without having an appropriate rationale. (AS 2401.61)

The firm was instructed by the principal auditor to select for testing journal entries that met certain specified criteria. The following deficiency was identified: · The firm did not perform procedures to test the journal entries identified and selected for testing. (AS 2401.61)

The firm identified a fraud risk related to the potential for management override of controls and determined that certain individuals could both initiate and record journal entries without any secondary review or approval. To address this fraud risk the firm identified journal entries that met certain criteria and haphazardly selected certain of those journal entries for testing without having a basis for its selection. For certain other journal entries that met these criteria the firm did not examine the underlying support for these entries and instead limited its procedures to inquiring of management and/or evaluating the journal entry descriptions. (AS 2401.61)

The firm identified a fraud risk related to the potential for management override of controls and determined that certain individuals could both initiate and record journal entries without any secondary review or approval. To address this fraud risk the firm identified journal entries that met certain criteria and haphazardly selected certain of those journal entries for testing without having a basis for its selection. The firm did not identify or test any controls over the recording of journal entries that would address the fraud risk identified. (AS 2201.39)

For certain locations the firm selected for testing a control that consisted of the review of journal entries. The firm did not evaluate the specific review procedures that the control owners performed to assess the appropriateness of the journal entries. (AS 2201.42 and .44)

For certain other locations the firm did not identify and test any controls over the review of journal entries. (AS 2201.39)

For certain locations the firm identified characteristics of potentially fraudulent entries or adjustments for testing but did not determine whether any journal entries met those characteristics and instead limited its testing to haphazardly selected journal entries. (AS 2401.61)

The firm did not perform any procedures to identify and select journal entries and other adjustments for testing. (AS 2401.58)

The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient substantive procedures to test those journal entries because it limited its procedures to evaluating the journal entry descriptions. (AS 2401.61)

The firm identified a deficiency related to the ability of individuals to post journal entries without review or approval. The firm tested two controls that it believed would compensate for this deficiency but did not identify that these controls did not address the risk of material misstatement related to unapproved journal entries. (AS 2201.68)

The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm selected for testing certain journal entries that met the criteria. The firm did not perform sufficient substantive procedures to test journal entries because it did not have an appropriate rationale for limiting its procedures to certain journal entries that met the fraud criteria. (AS 2401.61)

The firm selected for testing a control that consisted of the review of journal entries. The firm did not sufficiently test the design and operating effectiveness of this control because its procedures to evaluate whether the control operators reviewing journal entries were different from the individuals preparing journal entries were limited to obtaining from management a listing of individuals who can prepare journal entries without testing the completeness of this listing. (AS 2201.42 and .44)

The firm identified fraud risks related to the potential for management override of controls and undisclosed related party transactions. To address these fraud risks the firm identified manual journal entries that met certain criteria but it inspected the supporting documentation for only a small number of those journal entries without having a basis for limiting its testing to these journal entries. For the remaining journal entries that met these criteria the firm limited its procedures to inquiring of management and/or evaluating the journal entry descriptions. (AS 2401.61)

The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient substantive procedures to test those journal entries because it limited its procedures to certain journal entries without having an appropriate rationale for limiting its testing to those journal entries. (AS 2401.61)

The firm did not perform procedures to identify and test the journal entries that met certain of its fraud criteria. In addition the firm obtained a listing of journal entries and used it to identify journal entries that met certain other of its fraud criteria. The firm did not perform sufficient substantive procedures to test the journal entries that met this other criteria because it (i) limited its procedures to certain journal entries without having an appropriate rationale for limiting its testing to those journal entries and (ii) did not examine the underlying support for those entries it selected for testing. (AS 2401.61)

The firm identified journal entries that met certain criteria and haphazardly selected certain of those journal entries for testing without having a basis for its selection. Further for all but one of the journal entries selected for testing the firm did not examine the underlying support for the journal entries and instead limited its procedures to inspecting reviewer signatures or inquiring of management. (AS 2401.61)

The firm did not perform any procedures to identify and select journal entries and other adjustments for testing. (AS 2401.58)

The firm did not identify and select journal entries and other adjustments for testing to address the risk of management override. (AS 2401.58)

The firm did not identify and select journal entries and other adjustments for testing to address the risk of management override. (AS 2401.58)

The firm did not identify and select journal entries and other adjustments for testing to address the risk of management override. (AS 2401.58)

The firm identified a significant deficiency related to a lack of review and approval of manual journal entries. To address the fraud risk the firm selected for testing manual journal entries meeting certain fraud criteria. The following deficiencies were identified: · The firm did not perform any procedures to test the completeness of the population of manual journal entries. (AS 1105.10)

The firm identified a significant deficiency related to a lack of review and approval of manual journal entries. To address the fraud risk the firm selected for testing manual journal entries meeting certain fraud criteria. The following deficiencies were identified: · The firm did not perform sufficient procedures to test the selected journal entries because it did not examine the underlying support for the entries and instead limited its procedures to reading the journal entry descriptions. (AS 2401.61)

The firm identified fraud criteria for journal entries. The firm did not perform sufficient procedures to test the journal entries that met the criteria because it limited its procedures to certain journal entries without having an appropriate rationale. (AS 2401.61)

For certain of the issuer's business units the firm did not identify and select journal entries and other adjustments for testing without having an appropriate basis for excluding those business units. (AS 2401.61)

The firm did not identify and select journal entries and other adjustments for testing. (AS 2401.58)

The firm did not (1) appropriately consider the characteristics of potentially fraudulent journal entries when identifying and selecting journal entries for testing and (2) examine the underlying support for journal entries selected for testing. (AS 2401.61)

The firm selected for testing journal entries meeting certain fraud criteria. The firm did not perform sufficient procedures to test these journal entries because it did not examine the underlying support for the entries and instead limited its procedures to inquiring of management and reading the journal entry descriptions. (AS 2401.61)

The firm identified a characteristic of potentially fraudulent entries or adjustments for testing but did not determine whether any journal entries met the characteristic. Instead the firm limited its testing of journal entries for this specific characteristic to haphazardly selected journal entries. (AS 2401.61)

The firm selected for testing manual journal entries meeting certain fraud criteria. The firm did not perform sufficient procedures to test these journal entries because it did not examine the underlying support for the entries. (AS 2401.61)

The firm was instructed by the principal auditor to perform procedures to test journal entries and other adjustments to address the risk of management override of controls around the financial reporting processes at the group level. The firm identified fraud criteria to identify and select journal entries for testing and communicated the criteria to the principal auditor. The firm did not perform procedures to identify and test journal entries that met one of the criteria. (AS 2401.61)

The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient substantive procedures to test those journal entries because it limited its procedures to certain journal entries from the listing of entries that met the fraud criteria without having an appropriate rationale for limiting its testing to those journal entries. (AS 2401.61)

The firm identified a fraud risk related to the potential for management to use manual journal entries to override controls at certain of the issuer's locations. For some of these locations the firm did not perform journal-entry testing to address the risk. (AS 2401.58)

The firm identified fraud criteria for purposes of identifying and selecting journal entries for testing and communicated to the principal auditor that its audit procedures would include an examination of all journal entries and other adjustments that met these criteria. In identifying and selecting journal entries that met the criteria the firm did not perform sufficient procedures to test those journal entries because it excluded certain journal entries from testing without having an appropriate rationale for their exclusion. (AS 2401.61)

The firm did not perform procedures beyond scanning a listing of journal entries to identify and select journal entries and other adjustments for testing to address the risk of management override. (AS 2401.58)