← Back to Explorer
Grant Thornton Auditores Independentes Ltda.
Brazil · Grant Thornton International Limited · Triennially Inspected
- Inspection year
- 2024
- Report date
- 19-Dec-2024
- PCAOB release
- 104-2025-020
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 33%
- Part I.A deficiencies
- 2
- Part I.B deficiencies
- 4
- Report
- View PDF ↗
Deficiencies (2)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A2 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Certain Assets | The firm selected for testing a control that consisted of the issuer's review of the fair value of certain assets. The firm identified a deficiency in the operating effectiveness of this control. The firm identified and tested compensating controls that it believed would mitigate this deficiency. The firm did not identify that these other controls were not designed to address whether these assets were appropriately recorded at fair value. (AS 2201.68) Both financial statement and ICFR audits | AS 2201.68 | Significant risk |
| 2 | Certain Assets | The firm used an auditor-employed specialist to test the fair value of certain of these assets which was determined by the company's specialist. The auditor-employed specialist's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that it did not (1) evaluate the reasonableness of the significant assumptions developed by the company's specialist (2) evaluate whether the methods used by the company's specialist were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework and (3) test the accuracy and/or completeness of certain issuer-produced data used by the company's specialist. The firm did not perform additional procedures or request the auditor-employed specialist to perform additional procedures to address these issues. (AS 1105.A8a .A8b and .A8c; AS 1201.C6 and .C7) Both financial statement and ICFR audits | AS 1105.A8a; AS 1105.A8b; AS 1105.A8c; AS 1201.C6; AS 1201.C7 | Significant risk |