- Inspection year
- 2024
- Report date
- 26-Jun-2025
- PCAOB release
- 104-2025-108
- Audits reviewed
- 2
- Audits w/ Part I.A deficiencies
- 2
- Part I.A deficiency rate
- 100%
- Part I.A deficiencies
- 7
- Part I.B deficiencies
- 16
- Report
- View PDF ↗
Deficiencies (7)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A5 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The firm did not identify and evaluate that the issuer's recognition of revenue was not in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30) Financial statement audit only | AS 2810.30 | |
| 2 | Revenue | The firm did not identify and evaluate the issuer's omission of certain disclosures related to revenue required by FASB ASC Topic 606. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 | |
| 3 | Certain Assets | The firm did not perform procedures to evaluate whether the issuer performed an assessment of certain assets for recoverability when the firm was aware of events or changes in circumstances that existed and indicated that the carrying value may not be recoverable. (AS 2301.08; AS 2810.03) Financial statement audit only | AS 2301.8; AS 2810.3 | |
| 4 | Certain Assets | The firm did not identify and evaluate the issuer's omission of a disclosure related to these assets required by GAAP. (AS 2810.30 and .31) Financial statement audit only | AS 2810.30; AS 2810.31 | |
| 5 | Journal Entries | The firm did not perform procedures to identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Financial statement audit only | AS 2401.58 | Significant risk |
Issuer B2 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Significant Accounts | The firm did not perform procedures to test the appropriateness of the issuer's accounting for certain changes to a significant account beyond obtaining external invoices. (AS 2301.08) Financial statement audit only | AS 2301.8 | |
| 2 | Journal Entries | The firm did not perform procedures to test the appropriateness of the issuer's accounting for certain changes to a significant account beyond obtaining external invoices. (AS 2301.08) Financial statement audit only | AS 2401.58 |