Explorer

The issuer used various models methodologies and assumptions to determine the estimate. The following deficiencies were identified: · The firm did not identify and test any controls over the monitoring of the models to determine whether the models remained suitable for their intended purpose or if revisions to the models were necessary. (AS 2201.39)

The issuer used various models methodologies and assumptions to determine the estimate. The following deficiencies were identified: · The firm selected for testing change management and user access controls over an application used by the issuer to determine the estimate. The firm did not test or in the alternative test any controls over the completeness of the population of changes that were processed internally by the issuer's IT personnel and that the firm used in its testing of certain controls over change management. (AS 1105.10)

The issuer used various models methodologies and assumptions to determine the estimate. The following deficiencies were identified: · The firm selected for testing certain automated controls over the calculation and classification of data within the application used by the issuer to determine the estimate. The firm's approach to testing a single instance of each of these controls was dependent on effective information technology general controls. Due to the deficiencies in the firm's testing of the change management and user access controls discussed above the firm's testing of these automated controls was not sufficient. (AS 2201.46)

The issuer used various models and assumptions to determine the estimate. The following deficiencies were identified: · The firm did not identify and test any controls over the monitoring of the models to determine whether the models remained suitable for their intended purpose or if revisions to the models were necessary. (AS 2201.39)

The issuer used various models and assumptions to determine the estimate. The following deficiencies were identified: · The firm selected for testing controls that consisted of annual reviews and approvals of (1) the methodologies (2) new and revised models and (3) certain key inputs and assumptions used by the issuer to determine a portion of the estimate. Certain annual reviews and approvals of the methodologies and new and revised models did not operate during the current year and the firm tested instances of these controls which operated in the prior year. The firm's testing of these controls did not provide sufficient appropriate audit evidence of the controls' operating effectiveness as of the date of management's assessment of ICFR due to the (1) length of time that had passed between the instances of the controls the firm tested and the date of management's assessment (2) higher risk associated with the controls and (3) sensitivity and complexity of the models covered by the controls. (AS 2201.46 and .52)

The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not identify and test any controls over certain other models used by the issuer to estimate the valuation for the collective components. (AS 2201.39)

The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not identify and test any controls over the determination of certain assumptions used by the issuer to estimate the valuations for certain components. (AS 2201.39)

The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not identify and test any control over the determination of an input used by the issuer to estimate the valuation for another component. (AS 2201.39)

The firm selected for testing certain controls related to the issuer's reviews of a significant estimate. The firm did not test the design and operating effectiveness of other controls because the firm selected transactions from reports that were not used in the operation of the controls. (AS 2301.19 and .21)

The firm obtained and evaluated the service auditor's report for the issuer's system used to process and record transactions related to this estimate. The firm identified and tested certain controls intended to address complementary user entity controls included in the service auditor's report. The firm identified deficiencies in these controls and identified and tested other controls that it believed mitigated these deficiencies. The firm however did not identify that the other controls did not address the same risks as the deficient controls. (AS 2601.14)

The firm did not identify and test any controls over certain data that was not subject to this control. (AS 2201.39)