← Back to Explorer
Fahn Kanne & Co.
Israel · Grant Thornton International Limited · Triennially Inspected
- Inspection year
- 2019
- Report date
- 17-Dec-2020
- PCAOB release
- 104-2021-018
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 50%
- Part I.A deficiencies
- 2
- Part I.B deficiencies
- —
- Report
- View PDF ↗
Deficiencies (2)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A2 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Business Combinations | During the year the issuer completed a business combination and determined the fair value of the acquired intangible assets using several assumptions. The firm selected for testing a control that included management's review of the fair value of the acquired intangible assets. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the assumptions. (AS 2201.42 and .44) ICFR audit only | AS 2201.42; AS 2301.44 | |
| 2 | Business Combinations | In addition as a result of the firm's testing performed in the audit of the issuer's financial statements the firm identified modifications to certain assumptions used by the issuer to determine the fair value of the acquired intangible assets. The firm did not evaluate the effect of these modifications identified in its substantive audit procedures on its conclusions regarding the design and operating effectiveness of this control. (AS 2201.B8) ICFR audit only | AS 2201.B8 |