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Ernst & Young et Autres
France · Ernst & Young Global Limited · Triennially Inspected
- Inspection year
- 2022
- Report date
- 11-Dec-2023
- PCAOB release
- 104-2024-016
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 50%
- Part I.A deficiencies
- 8
- Part I.B deficiencies
- 2
- Report
- View PDF ↗
Deficiencies (8)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A8 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Accounts Receivable | The issuer used an information-technology (IT) system to initiate process and record certain transactions related to revenue and accounts receivable. In its testing of controls over these accounts the firm tested an IT-dependent manual control that used data and reports generated or maintained by this IT system. As a result of the deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of this IT-dependent control was not sufficient. (AS 2201.46) Both financial statement and ICFR audits | AS 2201.46 | |
| 2 | Accounts Receivable | The issuer used an information-technology (IT) system to initiate process and record certain transactions related to revenue and accounts receivable. With respect to user access the following deficiencies were identified: · The firm selected for testing a user access control over this IT system that consisted of management's review and approval of user access requests. The firm did not perform procedures to test an aspect of this control related to the assignment of user access rights. (AS 2201.42 and .44) Both financial statement and ICFR audits | AS 2201.42; AS 2201.44 | |
| 3 | Accounts Receivable | The issuer used an information-technology (IT) system to initiate process and record certain transactions related to revenue and accounts receivable. With respect to user access the following deficiencies were identified: · The firm selected for testing a user access control over this IT system that consisted of management's review and approval of user access requests. The firm did not perform procedures to test or test controls over the completeness of the population of user access requests from which it made its selections for testing. (AS 1105.10) Both financial statement and ICFR audits | AS 1105.10 | |
| 4 | Accounts Receivable | The issuer used an information-technology (IT) system to initiate process and record certain transactions related to revenue and accounts receivable. With respect to user access the following deficiencies were identified: · The firm selected for testing another user access control over this IT system that consisted of the issuer's periodic monitoring of user access rights for appropriateness. The firm did not perform any procedures to (1) evaluate whether it was appropriate for the control to exclude certain users from monitoring and (2) test an aspect of this control that addressed whether the role and related functions assigned to each user were appropriate. (AS 2201.42 and .44) Both financial statement and ICFR audits | AS 2201.42; AS 2201.44 | |
| 5 | Revenue | The firm selected for testing two controls that consisted of the issuer's review of invoices and contracts for appropriate revenue recognition. The firm did not evaluate the specific review procedures that the control owners performed to assess whether certain revenue generated from these contracts was recorded in the appropriate period. (AS 2201.42 and .44) Both financial statement and ICFR audits | AS 2201.42; AS 2201.44 | |
| 6 | Revenue | The firm did not perform sufficient substantive procedures to test revenue because the firm did not evaluate whether certain revenue selected for testing was recorded in the appropriate period. (AS 2301.08 and .13) Both financial statement and ICFR audits | AS 2301.8; AS 2301.13 | |
| 7 | Accounts Receivable | The firm did not identify and test any controls over the valuation of accounts receivable. (AS 2201.39) Both financial statement and ICFR audits | AS 2201.39 | |
| 8 | Accounts Receivable | The firm did not perform sufficient procedures to test the valuation of accounts receivable because it used certain information obtained from external sources in its substantive testing of receivables and did not perform any procedures to evaluate the relevance and reliability of this information. (AS 1105.04 and .06) Both financial statement and ICFR audits | AS 1105.4; AS 1105.6 |