Explorer

The firm selected for testing a control that consisted of the issuer's review and approval of manual journal entries prior to posting them to the general ledger. In evaluating the design of this control the firm did not identify that the general ledger system allowed the control owners to modify journal entries prior to posting. (AS 2201.42)

The firm was instructed by the principal auditor to test two controls over manual journal entries that consisted of the issuer's review and approval of the journal entries. The firm did not sufficiently test the design and operating effectiveness of these controls because it did not test certain attributes of the controls related to (1) an additional review of journal entries created or posted by the controller and (2) the attachment of supporting documentation to all journal entry vouchers to facilitate the control owner's review of the journal entries. (AS 2201.42 and .44)

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)

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

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

The firm identified fraud criteria for journal entries and obtained a listing of 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 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 journal entries without having an appropriate rationale. (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 journal entries without having an appropriate rationale. (AS 2401.61)

The firm scanned the general ledger but did not identify and test any journal entries and other adjustments. (AS 2401.58)

The firm's internal inspection program inspected this audit and reviewed certain of these areas but did not identify the deficiencies below. 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 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 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)

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)

Deficiency in the basis for excluding certain business units from journal entry testing.

The firm identified for testing journal entries meeting certain fraud criteria and then reviewed the listing of those journal entries for unusual entries. The firm did not select journal entries and other adjustments for testing. (AS 2401.61)

The firm identified journal entries that met certain fraud criteria but did not examine the underlying support for the entries. (AS 2401.61)

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 selected for testing a control that consisted of the issuer's review of recorded manual journal entries. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of these journal entries. (AS 2201.42 and .44)

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)

For certain 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 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)

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 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 identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform any procedures to test these 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 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)

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 and instead limited its procedures to inquiry 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 selected for testing a control that included the review of journal entries. The firm did not evaluate the review procedures that the control owner 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)

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

The firm did not select journal entries and other adjustments that met its identified fraud characteristics for testing. (AS 2401.61)

The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm did not consider fraud characteristics in identifying and selecting journal entries and other adjustments for testing. (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 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 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. (AS 2401.61)

The issuer recorded (1) journal entries into the general ledger during the financial reporting period and (2) adjustments during the period end financial reporting process. The firm selected for testing journal entries and adjustments meeting certain fraud criteria. The following deficiencies were identified: - The firm did not perform sufficient procedures to test the selected journal entries and adjustments because it did not examine the underlying support for the entries. (AS 2401.61)

The issuer recorded (1) journal entries into the general ledger during the financial reporting period and (2) adjustments during the period end financial reporting process. The firm selected for testing journal entries and adjustments meeting certain fraud criteria. The following deficiencies were identified: - The firm did not perform any procedures to test the completeness of the population of adjustments. (AS 1105.10)

The issuer recorded (1) journal entries into the general ledger during the financial reporting period and (2) adjustments during the period end financial reporting process. The firm selected for testing journal entries and adjustments meeting certain fraud criteria. The following deficiencies were identified: - The firm did not perform sufficient procedures to test the completeness of the population of journal entries because it limited its procedures to observation of the issuer downloading the journal entries and rolling forward certain equity accounts. (AS 1105.10)

The firm identified fraud criteria for journal entries and obtained a list of all journal entries that met the criteria. 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 journal entries. (AS 2401.61)

The firm identified fraud criteria for journal entries and obtained a list of all journal entries that met the criteria. 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 journal entries. (AS 2401.61)

The firm identified fraud criteria for journal entries and obtained a list of all journal entries that met the criteria. 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 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 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 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 select journal entries and other adjustments that met its identified fraud characteristics for testing. (AS 2401.61)