← Back to Explorer
Gaveglio Aparicio y Asociados S. Civil de R.L.
Peru · PricewaterhouseCoopers International Limited · Triennially Inspected
- Inspection year
- 2020
- Report date
- 08-Apr-2022
- PCAOB release
- 104-2022-111
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 67%
- Part I.A deficiencies
- 4
- Part I.B deficiencies
- 3
- 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 issuer recognized revenue in accordance with the terms and conditions of contractual arrangements with customers which were entered into the billing systems and used to create sales invoices and record revenue. The firm did not identify and test any controls to ensure that customers were invoiced and the related revenue was recognized in accordance with the contractual terms and conditions. Further the firm did not identify and test any controls over the initial entry of pricing data into the issuer's billing systems. (AS 2201.39) ICFR audit only | AS 2201.39 | |
| 2 | Revenue | The firm selected for testing a control that consisted of the issuer's review of month-to-month revenue variances. The firm did not evaluate the review procedures that the control owners performed including the procedures to identify items for follow up and the procedures to determine whether those items were appropriately resolved. (AS 2201.42 and .44) ICFR audit only | AS 2201.42; AS 2201.44 | |
| 3 | Long-Lived Assets | The firm did not identify and test any controls over the identification of impairment indicators with respect to property plant and equipment ('PP&E'). Further the firm did not identify and test any controls over the determination of depreciation expense related to certain PP&E. (AS 2201.39) ICFR audit only | AS 2201.39 |
Issuer B1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Investment Securities | The issuer used various external pricing sources to determine the fair value of certain investments. The firm did not test the fair value of these investments beyond comparing their fair value to (1) pricing data that the firm obtained from the same sources used by the issuer or (2) a pricing report prepared by the issuer. (AS 2502.26 and .28) Financial statement audit only | AS 2502.26; AS 2502.28 |