PCAOB Deficiency Tracker

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FirmAreaDeficiencyStandardFlags
Raich Ende Malter & Co. LLP
United States
Related Party Transactions
Estimate method, model, or data not evaluated
The firm did not perform any substantive procedures beyond inquiry to test the valuation of related party transactions. (AS 2410.12)
Financial statement audit only · full report
AS 2410.12
WEINSTEIN INTERNATIONAL CPA
Israel
Related Party Transactions
Estimate method, model, or data not evaluated
During the prior year the issuer sold certain assets to Related Party A in return for the cancellation of debt. In addition in the prior year Related Party A transferred these assets to another related party ('Related Party C') as settlement of debt. During the current year the issuer repurchased these assets from Related Party C for the issuance of preferred shares which were recorded as an expense. The issuer did not assign a book value to these assets. The following deficiency was identified: · The firm did not perform any procedures to test the existence and valuation of the acquired assets. (AS 2301.08; AS 2410.11)
Financial statement audit only · full report
AS 2301.8; AS 2410.11
Incorrect opinion
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