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PricewaterhouseCoopers Japan LLC
Japan · PricewaterhouseCoopers International Limited · Triennially Inspected
- Inspection year
- 2023
- Report date
- 12-Sep-2024
- PCAOB release
- 104-2024-145
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 33%
- Part I.A deficiencies
- 3
- Part I.B deficiencies
- —
- Report
- View PDF ↗
Deficiencies (3)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A3 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | For certain revenue the customer purchase order information is transferred from customers to the issuer's enterprise resource planning system (ERPS) through a service organization. For certain other revenue customer purchase order and shipment information are aggregated by other service organizations and transferred to the issuer's ERPS. The following deficiency was identified: · The firm selected for testing certain controls over revenue that consisted of the issuer's (1) review of certain information transmitted from one of the service organizations to its ERPS and (2) reconciliation of information transmitted from another service organization to its ERPS. The firm did not identify and test any controls over the accuracy and/or completeness of certain information used in the operation of these controls. (AS 2201.39) Both financial statement and ICFR audits | AS 2201.39 | |
| 2 | Revenue | For certain revenue the customer purchase order information is transferred from customers to the issuer's enterprise resource planning system (ERPS) through a service organization. For certain other revenue customer purchase order and shipment information are aggregated by other service organizations and transferred to the issuer's ERPS. The following deficiency was identified: · The firm did not perform any procedures to test the accuracy and completeness of certain information provided by the service organizations used in its substantive testing of revenue. (AS 2301.08) Both financial statement and ICFR audits | AS 2301.8 | |
| 3 | Inventory | The firm selected for testing certain controls over inventory that consisted of the issuer's (1) review of order shipment status (2) review of inventory quantities between the issuer's ERPS and various other systems (3) performance of physical inventory counts and (4) review and approval of inventory adjustments unrelated to the physical inventory counts. The firm did not identify and test any controls over the completeness and/or accuracy of certain data used in the operation of these controls. (AS 2201.39) Both financial statement and ICFR audits | AS 2201.39 |