- Inspection year
- 2023
- Report date
- 19-Dec-2024
- PCAOB release
- 104-2025-028
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 67%
- Part I.A deficiencies
- 3
- Part I.B deficiencies
- 5
- 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 A2 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The firm did not perform sufficient procedures to evaluate whether all performance obligations were appropriately identified because it did not (1) perform procedures to identify and review all customer agreements/contracts that may contain promises to provide distinct goods or services and (2) evaluate whether any such promises identified should be accounted for as separate performance obligations. (AS 2301.08 and .13) Financial statement audit only | AS 2301.8; AS 2301.13 | |
| 2 | Revenue | The firm did not perform procedures to test or test any controls over the accuracy and completeness of certain system-generated data it used to substantively test revenue. (AS 1105.10) Financial statement audit only | AS 1105.10 |
Issuer B1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Participant and Employer Contributions | To test rollover contributions the firm selected certain rollover contributions that met specific criteria to evaluate whether they were appropriately recognized in accordance with the terms of the plan document. The firm did not perform any substantive procedures to test the remaining population of rollover contributions to address the assessed risk of material misstatement. (AS 1105.27; AS 2301.08) Financial statement audit only | AS 1105.27; AS 2301.8 |