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PricewaterhouseCoopers, S.C.
Mexico · PricewaterhouseCoopers International Limited · Triennially Inspected
- Inspection year
- 2020
- Report date
- 28-Feb-2022
- PCAOB release
- 104-2022-078
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 33%
- 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 | Significant Estimates | The issuer used various models and assumptions to determine the estimate. The following deficiencies were identified: · The firm selected for testing two controls that consisted of the review and approval of certain assumptions used by the issuer to determine the estimate. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the assumptions. (AS 2201.42 and .44) Both financial statement and ICFR audits | AS 2201.42; AS 2201.44 | |
| 2 | Significant Estimates | The issuer used various models and assumptions to determine the estimate. The following deficiencies were identified: · The sample size the firm used in certain of its substantive procedures to test the estimate was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Both financial statement and ICFR audits | AS 2301.16; AS 2301.18; AS 2301.37; AS 2315.19; AS 2315.23; AS 2315.23A |