EY Godkendt Revisionspartnerselskab

Denmark · Ernst & Young Global Limited · Triennially Inspected

Deficiencies (2)

Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.

#	Area	Deficiency	Standard	Flags
1	Derivatives	The issuer used eight information-technology (IT) applications to initiate process and record transactions related to revenue trade receivables and derivatives. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and/or reports generated or maintained by certain of these IT applications. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT-dependent controls was not sufficient. (AS 2201.46) ICFR audit only	AS 2201.46
2	Derivatives	With respect to change management: The firm selected for testing certain change management controls over the eight IT applications discussed above that consisted of the documentation review testing and approval of changes prior to their implementation into production. In addition all changes made in the production environment were to be recorded in a ticketing system. For certain instances tested the firm did not perform procedures to test the operating effectiveness of these change management controls beyond verifying the existence of a change ticket recorded in the issuer's ticketing system. (AS 2201.44) ICFR audit only	AS 2201.44