- Inspection year
- 2021
- Report date
- 15-Sep-2022
- PCAOB release
- 104-2022-203a
- Audits reviewed
- 4
- Audits w/ Part I.A deficiencies
- 3
- Part I.A deficiency rate
- 75%
- Part I.A deficiencies
- 3
- Part I.B deficiencies
- 2
- 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 A1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The issuer's revenue included equipment leases. The firm did not perform any procedures to evaluate whether elements of these leases should have been accounted for as sales-type leases in conformity with FASB ASC Topic 842 Leases. (AS 2810.30) Financial statement audit only | AS 2810.30 |
Issuer B1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Income Taxes | The firm did not perform any procedures to evaluate the issuer's identification and recognition of uncertain tax positions taken. (AS 2301.08) Unrelated to our review the issuer reevaluated its accounting for income taxes including uncertain tax positions and concluded that material misstatements existed that had not been previously identified. The issuer subsequently filed a Form 8-K and disclosed that the financial statements should no longer be relied upon. Financial statement audit only | AS 2301.8 |
Issuer C1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Income Statement Account | The firm did not perform any substantive procedures to test an income statement account. (AS 2301.08) Financial statement audit only | AS 2301.8 |