- Inspection year
- 2024
- Report date
- 24-Oct-2024
- PCAOB release
- 104-2024-173
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 50%
- Part I.A deficiencies
- 3
- Part I.B deficiencies
- 1
- 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 | The firm selected certain revenue transactions for testing. The firm did not perform sufficient procedures to evaluate whether the issuer met its performance obligations before revenue was recognized because it limited its procedures to obtaining incident response logs and reports prepared by the issuer. (AS 2301.08 and .13) Financial statement audit only | AS 2301.8; AS 2301.13 | |
| 2 | Revenue | The firm selected certain revenue transactions for testing. The firm did not determine whether the expectations it used in its substantive analytical procedures over revenue were based on predictable relationships. (AS 2305.13 and .14) Financial statement audit only | AS 2305.13; AS 2305.14 | |
| 3 | Allowance for Doubtful Accounts | The firm did not perform sufficient procedures to test or identify and test controls over the accuracy of the accounts receivable aging report it used in its substantive testing of the allowance for doubtful accounts because it used the invoice dates included in the report to recalculate the aging without performing procedures to test the accuracy of those dates. (AS 1105.10) Financial statement audit only | AS 1105.10 |