- Inspection year
- 2019
- Report date
- 28-Jun-2021
- PCAOB release
- 104-2021-129
- Audits reviewed
- 1
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 100%
- Part I.A deficiencies
- 1
- Part I.B deficiencies
- —
- Report
- View PDF ↗
Deficiencies (1)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The issuer generated revenue through two types of transactions: Method A and Method B. The issuer calculated Method B revenue by multiplying the number of products delivered by the quarterly average price per product for Method A revenue which was provided to the issuer by an unrelated party. The firm did not evaluate (1) the relevance of quarterly average prices for Method A revenue to the actual prices for Method B revenue and (2) the reliability of the quarterly average prices provided by the unrelated party. (AS 1105.04 and .06) Financial statement audit only | AS 1105.4; AS 1105.6 |