- Inspection year
- 2019
- Report date
- 18-Mar-2021
- PCAOB release
- 104-2021-083a
- 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 | Revenue | The firm selected for testing a control that consisted of the review of a memorandum documenting the issuer's revenue recognition methodology. The issuer prepared this memorandum using questionnaire responses received from issuer personnel regarding key terms of contracts and purchase orders that could affect revenue recognition. The firm did not identify and test any controls to address the accuracy of the information contained in the questionnaires used in the operation of this control. (AS 2201.39) ICFR audit only | AS 2201.39 | |
| 2 | Goodwill | The firm selected for testing a control that included the review of the issuer's annual goodwill impairment analysis. The firm did not evaluate the review procedures that the control owners 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) ICFR audit only | AS 2201.42; AS 2201.44 |