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Salles, Sáinz - Grant Thornton, S.C.
Mexico · Grant Thornton International Limited · Triennially Inspected
- Inspection year
- 2020
- Report date
- 28-Feb-2022
- PCAOB release
- 104-2022-079
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 67%
- Part I.A deficiencies
- 5
- Part I.B deficiencies
- 3
- 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 A4 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | To test revenue the firm selected for testing certain items that met specific criteria. The firm did not perform any substantive procedures to test the remaining portion of items that did not meet the specific criteria. (AS 1105.27; AS 2301.08) Financial statement audit only | AS 1105.27; AS 2301.8 | |
| 2 | Revenue | To test revenue the firm selected for testing certain items that met specific criteria. The firm did not perform any substantive procedures to test certain other items affecting revenue. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 3 | Inventory | The firm observed physical inventory counts on various dates subsequent to year end. The firm did not perform any procedures to test certain identified differences in inventory quantities between the count dates and year end. (AS 2510.12) Financial statement audit only | AS 2510.12 | |
| 4 | Inventory | The firm used the issuer's inventory aging report in its substantive testing of the inventory reserve. The firm did not test or test controls over the accuracy and completeness of the information included in the inventory aging report. (AS 1105.10; AS 2501.11) Financial statement audit only | AS 1105.10; AS 2501.11 |
Issuer B1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The firm did not perform sufficient procedures to evaluate whether the issuer recognized certain revenue in conformity with IFRS 15 Revenue from Contracts with Customers because it did not evaluate (1) whether a series of contracted services provided to the customer constituted separate performance obligations and (2) the effect of variable consideration on the issuer's determination of the transaction price. (AS 2810.30) Financial statement audit only | AS 2810.30 |