- Inspection year
- 2019
- Report date
- 25-Jun-2021
- PCAOB release
- 104-2021-120
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 67%
- Part I.A deficiencies
- 4
- Part I.B deficiencies
- 2
- Report
- View PDF ↗
Deficiencies (4)
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 | Significant Accounts | The firm's approach to testing the account included selecting a sample of transactions from certain portions of the account using issuer-provided reports. The firm did not test the completeness of the reports from which it made sample selections for three portions of the account (AS 2315.24). Financial statement audit only | AS 2315.24 | |
| 2 | Significant Accounts | The firm's approach to testing the account included selecting a sample of transactions from certain portions of the account using issuer-provided reports. The firm did not test or in the alternative identify and test any controls over the accuracy and completeness of data and reports used to test two other portions of the account. (AS 1105.10). Financial statement audit only | AS 1105.10 |
Issuer B2 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Accrued Liabilities and Related Expenses | The firm did not evaluate whether the unbilled fees included in a confirmation from legal counsel should have been accrued as of year end. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 2 | Accrued Liabilities and Related Expenses | In addition the firm noted certain expenses recorded in the current year that related to services received in the prior year. The firm did not evaluate the effects of these misstatements on the current year financial statements. (AS 2810.17 .18 and .19) Financial statement audit only | AS 2810.17; AS 2810.18; AS 2810.19 |