- Inspection year
- 2023
- Report date
- 16-Nov-2023
- PCAOB release
- 104-2024-007
- 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 | Allowance for Credit/Loan Losses | The issuer calculated the qualitative component of the allowance for loan losses by applying basis points to each qualitative factor. The firm's approach for substantively testing the qualitative component was to test the issuer's process. The firm did not evaluate the reasonableness of significant assumptions used by the issuer to develop this component. (AS 2501.16) Financial statement audit only | AS 2501.16 |