Explorer

The firm did not appropriately consider the characteristics of potentially fraudulent journal entries in determining the criteria it used to identify and select journal entries for testing because it limited its procedures to certain journal entries recorded at year end without having an appropriate rationale for limiting its testing to those journal entries. (AS 2401.61)

The firm was instructed by the principal auditor to perform procedures to test journal entries that met certain risk criteria as determined by the principal auditor to address a fraud risk related to management override of controls that was identified by the principal auditor. The firm did not identify and select journal entries and other adjustments for testing as instructed by the principal auditor. (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 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 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 owner performed to assess (1) the appropriateness of the journal entries and (2) whether the journal entries had been approved in accordance with the issuer's process to support appropriate segregation of duties related to journal entry initiation review and posting. (AS 2201.42 and .44)

The firm identified characteristics of potentially fraudulent entries or adjustments for testing. However the firm 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 identify and select journal entries and other adjustments for testing. (AS 2401.58)

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

The firm did not consider the characteristics of potentially fraudulent journal2501 entries when identifying and selecting journal entries for testing. Further the firm did not examine the underlying support for the journal entries selected for testing. (AS 2401.61)

The firm did not identify and select journal entries and other adjustments for testing for evidence of possible material misstatement due to fraud. (AS 2401.58)

The firm identified characteristics of potentially fraudulent entries or adjustments for testing determined that certain journal entries met those characteristics but limited its testing to haphazardly selected journal entries. (AS 2401.61)

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

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

The firm identified fraud criteria for journal entries. The firm did not apply the criteria to the entire population of journal entries to identify all journal entries that met the criteria. Further the firm limited its testing of journal entries to a haphazard selection. (AS 2401.61)

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 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 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 identified journal entries that met certain risk criteria but did not examine the underlying support for the 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 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)

For certain 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 those subsidiaries. (AS 2401.61)

The firm identified a fraud risk related to the potential for management to override controls including recording unsupported journal entries. The firm did not perform any substantive procedures to test journal entries to address this risk at certain business units. (AS 2401.58)

The firm's internal inspection program inspected this audit and reviewed the Inventory and Journal Entries areas but did not identify the deficiencies below. The firm identified a fraud risk related to the potential for management to override controls including recording unsupported journal entries. The firm did not perform any substantive procedures to test journal entries to address this risk at certain business units. (AS 2401.58)

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 business unit 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 this business unit. (AS 2401.61)

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

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 of the journal entries without having an appropriate rationale for limiting its testing to those certain 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 journal entries and other adjustments for testing. The firm did not perform any procedures to test these journal entries and other adjustments. (AS 2401.61)

The firm did not perform any 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 any 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 identify and test any controls over journal entries and other adjustments made in the period-end financial reporting process. (AS 2201.39)

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 perform any procedures to identify and select journal entries and other adjustments for testing. (AS 2401.58)

To identify and select journal entries for testing the firm identified fraud characteristics. For certain of these fraud characteristics the firm did not perform any procedures to identify journal entries that had these characteristics. (AS 2401.61)

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.

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 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 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 identified journal entries that met certain criteria and selected certain of those journal entries for testing without having an appropriate rationale. Further the firm did not examine the underlying support for the journal entries. (AS 2401.61)

The firm identified journal entries that met certain criteria and selected certain of those journal entries for testing without having an appropriate rationale. Further the firm did not examine the underlying support for the journal entries. (AS 2401.61)

The firm identified journal entries that met certain criteria and selected certain of those journal entries for testing without having an appropriate rationale. Further the firm did not examine the underlying support for the journal entries. (AS 2401.61)

The firm identified certain fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not examine the underlying support for the journal entries. (AS 2401.61)

The firm identified certain fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not examine the underlying support for the journal entries. (AS 2401.61)

The firm did not consider the characteristics of potentially fraudulent journal entries when identifying and selecting journal entries for testing at one of the issuer's components and instead haphazardly selected entries for testing. Further the firm did not perform sufficient procedures to test certain of the selected journal entries because it did not examine the underlying support for the entries and limited its procedures to inquiry of management for one of these entries. (AS 2401.61)

The firm did not perform any procedures to identify and select journal entries and other adjustments for testing at another one of the issuer's components without having an appropriate rationale for excluding that component. (AS 2401.61)

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

The firm identified fraud criteria to identify and select journal entries for testing and obtained a listing of journal entries that met the criteria. The firm did not sufficiently test the journal entries that met the identified fraud risk criteria for evidence of possible material misstatement due to fraud because it limited its procedures to certain entries without having an appropriate rationale for limiting its testing to those journal entries. (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 procedures to test those journal entries because it limited its procedures to certain entries without having an appropriate rationale. (AS 2401.61)

The firm did not perform sufficient procedures to identify and select journal entries for testing to address the risks of management override identified by the firm because the firm did not use accurate information as the basis for the test. (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 other than inquiries of management it limited its procedures to one journal entry without having an appropriate rationale for limiting its testing to that journal entry. (AS 2401.61)