- Inspection year
- 2024
- Report date
- 11-Sep-2025
- PCAOB release
- 104-2025-140
- Audits reviewed
- 1
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 100%
- Part I.A deficiencies
- 6
- Part I.B deficiencies
- 3
- Report
- View PDF ↗
Deficiencies (6)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A6 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The firm selected for testing certain controls over the review of revenue but did not evaluate the review procedures that the control owners performed including the procedures to identify items for follow-up and the procedures to determine whether those items were appropriately resolved. (AS 2201.42 and .44) Both financial statement and ICFR audits | AS 2201.42; AS 2201.44 | |
| 2 | Revenue | The firm did not evaluate the accuracy and completeness of the issuer-produced sales registry from which the firm made its selections for its substantive testing of revenue as the sales registry did not agree to the general ledger. (AS 2301.08) Both financial statement and ICFR audits | AS 2301.8 | |
| 3 | Revenue | The firm did not identify and evaluate a departure from IFRS related to the issuer's recognition of revenue from contract modifications under IFRS 15 Revenue from Contracts with Customers. (AS 2810.30 and .31) Both financial statement and ICFR audits | AS 2810.30; AS 2810.31 | |
| 4 | Work in Progress | The issuer recognized revenue over time for certain construction projects and reported work in process for costs incurred that related to satisfied performance obligations of construction contracts. The firm did not identify and evaluate a departure from IFRS related to the issuer's capitalizing these costs as assets instead of expensing them as incurred in accordance with IFRS 15. (AS 2810.30) Both financial statement and ICFR audits | AS 2810.30 | |
| 5 | Trade Receivables | The firm sent positive confirmation requests to customers for trade receivables. No response was received for one customer's confirmation. The firm did not perform sufficient alternative procedures because its procedures were limited to reviewing the invoice and related contract without considering adjustments made to the receivable balance based on contract adjustments. (AS 2310.31) Both financial statement and ICFR audits | AS 2310.31 | |
| 6 | Other Accounts Receivables | The firm did not identify and test any controls that addressed the risks associated with certain other receivables. (AS 2201.39) Both financial statement and ICFR audits | AS 2201.39 |