- Inspection year
- 2019
- Report date
- 09-Sep-2021
- PCAOB release
- 104-2021-170a
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 3
- Part I.A deficiency rate
- 100%
- Part I.A deficiencies
- 5
- Part I.B deficiencies
- 4
- Report
- View PDF ↗
Deficiencies (5)
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 | For certain of the issuer's subsidiaries the firm did not evaluate whether the relevant revenue recognition criteria had been met for the sales transactions selected for testing. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 2 | Allowance for Doubtful Accounts | For one of the issuer's subsidiaries the firm did not perform any procedures to evaluate the reasonableness of the allowance for doubtful accounts. (AS 2501.07) Financial statement audit only | AS 2501.7 |
Issuer B2 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Long-Lived Assets | The firm did not identify and evaluate whether (1) the issuer's exclusion of certain assets from its impairment analysis of long-lived assets was appropriate and (2) the issuer's impairment analysis was performed at the appropriate level. (AS 2810.30) Financial statement audit only | AS 2810.30 | |
| 2 | Long-Lived Assets | The firm did not identify and appropriately address the issuer's omission of certain required disclosures. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 |
Issuer C1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The firm did not identify and appropriately address the issuer's omission of certain required disclosures under FASB ASC Topic 606 Revenue From Contracts with Customers related to qualitative and quantitative information about (1) the issuer's existing contracts with customers; (2) the significant judgments and changes in the judgments made by the issuer in applying the guidance to those contracts; and 3) any assets recognized by the issuer from the costs to obtain or fulfill a contract with a customer. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 |