- Inspection year
- 2019
- Report date
- 25-Jun-2021
- PCAOB release
- 104-2021-124
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 100%
- 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 A3 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The firm selected for testing a control that consisted of a review of quarterly adjustments to revenue for two products. The firm did not test the design and operating effectiveness of certain aspects of this review control that addressed one of the products. (AS 2201.42 and .44) Both financial statement and ICFR audits | AS 2201.42; AS 2201.44 | |
| 2 | Revenue | The firm selected for testing a control that consisted of a review of quarterly adjustments to revenue for two products. The firm did not identify and test any controls over the accuracy and completeness of certain data and reports provided by an external party that the control owner used in the performance of this control over the other product. (AS 2201.39) Both financial statement and ICFR audits | AS 2201.39 | |
| 3 | Revenue | The firm used the above data and reports to substantively test revenue from one product and did not test or (as discussed above) identify and test controls over the accuracy and completeness of these data and reports as discussed above. (AS 1105.10) Both financial statement and ICFR audits | AS 1105.10 |
Issuer B1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Investments | The firm did not perform procedures to test the fair value of certain Level 2 investments beyond comparing the fair value to the pricing source used by the issuer. (AS 2502.26 and .28) Financial statement audit only | AS 2502.26; AS 2502.28 |