- Inspection year
- 2024
- Report date
- 30-Jan-2025
- PCAOB release
- 104-2025-029
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 100%
- 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 A2 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Investment Securities | The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain disclosures related to investment securities required by FASB ASC Topic 825 Financial Instruments. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 | |
| 2 | Going Concern | During the year under audit the firm identified conditions and events that caused it to believe there could be substantial doubt about the issuer's ability to continue as a going concern for a reasonable period of time and concluded that the substantial doubt was alleviated. The firm did not sufficiently evaluate management's plans because it did not assess the likelihood that the issuer could obtain additional funding and complete a business combination. (AS 2415.03) Financial statement audit only | AS 2415.3 |
Issuer B1 deficiency
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Investment Securities | The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure related to investment securities required by FASB ASC Topic 825. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 |