M&K CPAS, PLLC

United States · Triennially Inspected

Deficiencies (2)

Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.

#	Area	Deficiency	Standard	Flags
1	Intangible Assets	The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year the issuer identified indicators of impairment and performed a quantitative assessment of impairment. The firm did not perform procedures to evaluate the issuer's determination of the asset group used in its quantitative assessment. (AS 2301.08) Financial statement audit only	AS 2301.8
2	Intangible Assets	The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year the issuer identified indicators of impairment and performed a quantitative assessment of impairment. The firm did not perform procedures beyond inquiry observing the issuer's implementation of certain assumptions and performing a sensitivity analysis to evaluate the reasonableness of the significant assumptions the issuer used in its quantitative assessment. (AS 2501.16) Financial statement audit only	AS 2501.16