- Inspection year
- 2021
- Report date
- 29-Sep-2022
- PCAOB release
- 104-2022-214a
- 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
- 2
- 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 | Related Party Receivables | The issuer reported certain receivables that were due from a related party. The firm did not perform sufficient procedures to evaluate whether the issuer's presentation of these receivables was in conformity with FASB ASC Topic 310 Receivables because it did not evaluate (1) the nature or terms of the receivables or (2) other relevant information known to the firm. (AS 2810.03 and .30) Financial statement audit only | AS 2810.3; AS 2810.30 | |
| 2 | Related Party Receivables | The issuer reported certain receivables that were due from a related party. The firm did not sufficiently evaluate whether the issuer had a reasonable basis for concluding that the receivables were fully collectible because it limited its procedures to assessing the related party's shareholders' equity balance. (AS 2410.12) Financial statement audit only | AS 2410.12 |