- Inspection year
- 2023
- Report date
- 24-Aug-2023
- PCAOB release
- 104-2023-148
- Audits reviewed
- 1
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 100%
- Part I.A deficiencies
- 1
- Part I.B deficiencies
- 2
- Report
- View PDF ↗
Deficiencies (1)
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 | Inventory | To test certain costs related to inventory the firm performed a substantive analytical procedure and developed a percentage as its expectation. The firm compared its expectation to the actual percentage and applied the percentage difference to the wrong amount. As a result the firm did not identify and evaluate a significant difference between its expectation and the actual amount. (AS 2305.21) Financial statement audit only | AS 2305.21 |