- Inspection year
- 2023
- Report date
- 05-Dec-2024
- PCAOB release
- 104-2025-014
- 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
- 6
- 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 | Accounts Receivable | To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the relevance and reliability of certain data included in one of the issuer-prepared reports ('invoice detailed report') used in its substantive testing of revenue and accounts receivable because the firm did not test the validity of the information used to evaluate the relevance and reliability of the data. (AS 1105.04 and .06) Financial statement audit only | AS 1105.4; AS 1105.6 | |
| 2 | Accounts Receivable | To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform procedures to test or test any controls over the accuracy and completeness of (1) the invoice detailed report used in its substantive testing of revenue and accounts receivable and (2) another issuer-prepared report used in its substantive testing of revenue. (AS 1105.10) Financial statement audit only | AS 1105.10 | |
| 3 | Revenue | To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · For certain revenue transactions selected for testing the firm did not perform procedures to test whether (1) a sales contract existed with the customer and (2) the issuer had satisfied its performance obligation prior to recognizing revenue beyond agreeing the transactions or related purchase order information to the invoice detailed report referred to above. (AS 2301.08 and .13) Financial statement audit only | AS 2301.8; AS 2301.13 |