Explorer

The firm did not identify and evaluate the issuer's inaccurate disclosure of its revenue recognition policy. (AS 2810.30 and .31)

The firm did not identify and evaluate the issuer's omission of disclosures related to disaggregated revenue and significant payment terms required by FASB ASC Topic 606. (AS 2810.30 and .31)

The firm did not perform any procedures to test goodwill. (AS 2301.08)

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 complete all necessary procedures and obtain sufficient evidence to support the representations in the auditor's report. Specifically the firm did not review the work of engagement team members to evaluate whether the (1) work was performed and documented (2) objectives of the procedures were achieved and (3) results of the procedures performed supported the conclusions reached. (AS 1105.04; AS 1201.05)

The firm did not perform procedures to test revenue beyond obtaining certain external reports and issuer-produced reports. (AS 2301.08)

The firm did not perform procedures to test certain assets and related liabilities beyond obtaining an issuer-prepared report. (AS 2301.08)

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 evaluate the issuer's omission of disclosures for goodwill and intangible assets required by FASB ASC Topic 350 Intangibles – Goodwill and Other and FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31)

The firm did not complete all necessary procedures and obtain sufficient evidence to support the representations in the auditor's report. Specifically the firm did not review the work of engagement team members to evaluate whether the (1) work was performed and documented (2) objectives of the procedures were achieved and (3) results of the procedures performed supported the conclusions reached. (AS 1105.04; AS 1201.05)

The firm did not perform procedures beyond vouching a sample of journal entries to bank statements to evaluate whether the issuer had satisfied its performance obligations before revenue was recognized. Further the firm did not perform any procedures to test the completeness of the sub-ledger it used to make its selection of journal entries. (AS 1105.10; AS 2301.08)

During the year the issuer acquired a business and engaged a specialist to estimate the fair value of the acquired intangible assets. The firm did not perform procedures to test the fair value of the acquired intangible assets beyond obtaining and reading the company's specialist's draft valuation report and an issuer-prepared purchase price allocation schedule. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; 2501.07)

The firm did not identify and evaluate the issuer's omission of disclosures related to this business combination required by FASB ASC Topic 820. (AS 2810.30 and .31)

The issuer engaged an external valuation firm to perform a quantitative assessment of the possible impairment of goodwill. The firm did not perform procedures to test this assessment beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07)

The issuer reported an impairment loss for an intangible asset. The firm did not perform any procedures to test this impairment loss. (AS 2501.07)

The issuer reported an impairment loss for an intangible asset. The firm did not perform any procedures to test the amortization expense for the issuer's intangible assets. (AS 2501.07)

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 test whether the issuer satisfied its performance obligations prior to the recognition of revenue. (AS 2301.08 and .13)

The firm did not perform any procedures to test or identify and test controls over the accuracy and completeness of issuer-produced reports it used in its substantive procedures to test certain revenue. (AS 1105.10)

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 procedures beyond inquiry and obtaining the subledger details to test deferred revenue. (AS 2301.08)

The firm did not identify and evaluate the issuer's omission of disclosures related to revenue required by FASB ASC Topic 606. (AS 2810.30 and .31)

The firm sent positive confirmation requests to related parties. The following deficiencies were identified: · The firm did not perform sufficient procedures to test related party transactions and balances because it limited its procedures to confirmation requests of the related party balances. (AS 2410.12)

The firm sent positive confirmation requests to related parties. The following deficiencies were identified: · The firm did not identify certain conditions indicating that certain confirmation responses might not be authentic or might not have come from the purported source. As a result the firm did not perform additional audit procedures to respond to those conditions and evaluate their effect if any on the other aspects of the audit. (AS 1105.09)

The firm sent positive confirmation requests to related parties. The following deficiencies were identified: · The firm received electronic responses to certain of its confirmation requests. The firm did not consider performing procedures to address the risks associated with the electronic responses such as verifying the source and contents of the confirmation responses. (AS 2310.29)

The firm sent positive confirmation requests to related parties. The following deficiencies were identified: · The firm received a response from a related party in which the related party indicated that it both agreed and disagreed with the balances. The firm did not sufficiently evaluate the evidence provided by this confirmation because it did not consider the reliability of the confirmation the nature of the exceptions and whether additional evidence was needed. (AS 2310.33; AS 2810.03)

The firm sent positive confirmation requests to related parties. The following deficiencies were identified: · The firm did not perform any procedures to test the allowance for doubtful accounts from related parties. (AS 2501.07)

The firm did not perform any procedures to test the disclosures related to the related party transactions. (AS 2410.17)

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 procedures to test revenue beyond obtaining sales reports from external parties and a contract review analysis prepared by the issuer. (AS 2301.08)

The firm did not complete all necessary procedures and obtain sufficient evidence to support the representations in the auditor's report. Specifically the firm did not review the work of engagement team members to evaluate whether the (1) work was performed and documented (2) objectives of the procedures were achieved and (3) results of the procedures performed supported the conclusions reached. (AS 1105.04; AS 1201.05)

The firm did not perform procedures to test stock-based compensation beyond obtaining certain issuer-prepared reports. (AS 2301.08)

The firm did not perform any procedures to test certain investments. (AS 2301.08)

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 issuer reported transactions with related parties in its financial statements. The following deficiencies were identified: · The firm did not perform procedures to test payables due to related parties beyond confirming the balance with a related party who was an executive officer of the issuer. (AS 2410.12)

The issuer reported transactions with related parties in its financial statements. The following deficiencies were identified: · The firm did not perform procedures to evaluate whether the issuer's presentation of related party transactions in the statement of cash flows was in conformity with FASB ASC Topic 230 Statement of Cash Flows. (AS 2410.17)

The issuer reported transactions with related parties in its financial statements. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of disclosures related to the terms and manner of settlement of related party transactions required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31)

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 issuer recognized several types of revenue. The following deficiencies were identified: · The firm selected a sample of transactions for certain types of revenue. The firm did not perform procedures beyond obtaining invoices and cash receipts to evaluate whether the issuer had satisfied its performance obligations prior to the recognition of revenue. (AS 2301.08 and .13)

The issuer recognized several types of revenue. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the relevance and reliability of a report from an external source that it used to test another type of revenue. (AS 1105.04 and .06)

The issuer recognized several types of revenue. The following deficiencies were identified: · The firm did not perform any procedures to test another type of revenue. (AS 2301.08 and .13)

During the year the issuer acquired a business. The following deficiencies were identified: · The firm did not perform procedures beyond obtaining and reading the issuer's purchase price allocation schedule to test the fair value of the acquired intangible assets. (AS 2501.07)

The issuer recognized several types of revenue. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of disclosures related to revenue required by FASB ASC Topic 606. (AS 2810.30 and .31)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform procedures to test the fair value of certain intangible assets beyond obtaining and reading the company's specialist's valuation reports and the purchase price allocations. Further the firm did not perform procedures beyond assessing the knowledge skills and ability of the company's specialist and the specialist's relationship to the issuer with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A6 - .A10; AS 2501.07)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform procedures beyond obtaining and reading the issuer's purchase price allocation to test the fair value of certain other intangible assets. (AS 2501.07)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform procedures to test the tangible assets acquired and liabilities assumed at the acquisition dates for these acquisitions. (AS 2301.08)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not perform any procedures to test the purchase consideration for these acquisitions including certain contingent consideration. (AS 2301.08; AS 2501.07)

During the year the issuer acquired certain businesses. For two of the acquisitions the issuer engaged a specialist to estimate the fair value of the acquired intangible assets. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of disclosures related to these business combinations required by FASB ASC Topic 805 and FASB ASC Topic 820. (AS 2810.30 and .31)

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 procedures to test revenue and accounts receivable beyond obtaining issuer-produced reports and reports from external sources. (AS 2301.08)