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Doane Grant Thorton LLP
Canada · Grant Thornton International Limited · Triennially Inspected
- Inspection year
- 2024
- Report date
- 27-Feb-2025
- PCAOB release
- 104-2025-043
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 50%
- Part I.A deficiencies
- 4
- Part I.B deficiencies
- 1
- Report
- View PDF ↗
Deficiencies (4)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A4 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Accounts Receivable | The firm relied on certain information technology general controls (ITGCs) in its substantive approach to testing revenue and accounts receivable. The following deficiencies were identified: · The firm selected for testing a control over change management but did not perform procedures to determine whether the population of changes from which it made its selections for testing represented the complete population of changes made to this system. (AS 1105.10) Financial statement audit only | AS 1105.10 | |
| 2 | Accounts Receivable | The firm relied on certain information technology general controls (ITGCs) in its substantive approach to testing revenue and accounts receivable. The following deficiencies were identified: · The firm selected for testing certain IT application controls and IT-dependent manual controls over revenue and accounts receivable. The firm's approach to testing these controls depended on effective ITGCs including controls over change management. As a result of the deficiency in the firm's testing of the control discussed above the firm's testing of these IT application controls and IT-dependent manual controls was not sufficient. (AS 2301.18) Financial statement audit only | AS 2301.18 | |
| 3 | Accounts Receivable | The firm relied on certain information technology general controls (ITGCs) in its substantive approach to testing revenue and accounts receivable. The following deficiencies were identified: · As a result of the firm's control testing deficiencies the sample sizes the firm used in certain of its substantive procedures to test revenue and accounts receivable were too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Financial statement audit only | AS 2301.16; AS 2301.18; AS 2301.37; AS 2315.19; AS 2315.23; AS 2315.23A | |
| 4 | Journal Entries | The firm identified fraud criteria for purposes of identifying and selecting journal entries for testing. In identifying journal entries that met the criteria the firm did not perform sufficient procedures because certain journal entries that met its criteria were not identified by the firm. (AS 2401.61) Financial statement audit only | AS 2401.61 |