- Inspection year
- 2023
- Report date
- 26-Oct-2023
- PCAOB release
- 104-2023-198
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 100%
- Part I.A deficiencies
- 2
- Part I.B deficiencies
- 4
- 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 A1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The firm's internal inspection program inspected this audit and reviewed this area but did not identify the deficiency below. The firm selected for testing a control over revenue that consisted of the issuer's review of the financial statements of certain subsidiaries. The firm did not evaluate the specific review procedures that the control owner performed to evaluate whether the amounts recognized as revenue at these subsidiaries were appropriate. (AS 2201.42 and .44) ICFR audit only | AS 2201.42; AS 2201.44 |
Issuer B1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Investment Securities | The firm did not perform substantive procedures to test the valuation of certain investment securities held within various investment funds beyond comparing their net asset value to the trustee statements. (AS 2501.07) Financial statement audit only | AS 2501.7 |