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KPMG Accountants N.V.
Netherlands · KPMG International Cooperative · Triennially Inspected
- Inspection year
- 2021
- Report date
- 15-Sep-2022
- PCAOB release
- 104-2022-199
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 33%
- Part I.A deficiencies
- 3
- Part I.B deficiencies
- —
- Report
- View PDF ↗
Deficiencies (3)
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 | Certain Assets and Liabilities | The firm selected for testing a control that consisted of the validation of models used by the issuer to value certain assets and liabilities. The firm did not evaluate the specific review procedures that the control owners performed to validate the models including the procedures performed to determine whether each model was appropriate for its intended use and to evaluate model performance. (AS 2201.42 and .44) ICFR audit only | AS 2201.42; AS 2201.44 | |
| 2 | Certain Assets and Liabilities | The firm selected for testing a control that consisted of the validation of models used by the issuer to value certain assets and liabilities. The firm did not identify and test any controls over the accuracy and completeness of the data used in the operation of this control. (AS 2201.39) ICFR audit only | AS 2201.39 | |
| 3 | Certain Assets and Liabilities | The firm identified multiple deficiencies in the issuer's controls over certain assets and liabilities that it had selected for testing. The firm did not evaluate the severity of each control deficiency to determine whether the deficiency in combination with other deficiencies constituted a material weakness. (AS 2201.62) ICFR audit only | AS 2201.62 |