- Inspection year
- 2024
- Report date
- 22-Dec-2025
- PCAOB release
- 104-2026-029a
- Audits reviewed
- 3
- Audits w/ Part I.A deficiencies
- 1
- Part I.A deficiency rate
- 33%
- Part I.A deficiencies
- 13
- Part I.B deficiencies
- 2
- Report
- View PDF ↗
Deficiencies (13)
Grouped by issuer and in the same order as the PCAOB report, so each item ties back directly to the source.
Issuer A13 deficiencies
| # | Area | Deficiency | Standard | Flags |
|---|---|---|---|---|
| 1 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm selected for testing a control that consisted of the issuer's review of a sample of customer invoices to verify the pricing information reflected in the selected invoices. The firm did not identify and test any controls over the completeness of the population the issuer used to select invoices for review in the operation of this control. (AS 2201.39) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 2201.39 | Incorrect opinion |
| 2 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm did not identify and test any controls over certain revenue. (AS 2201.39) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 2201.39 | Incorrect opinion |
| 3 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm selected for testing two other controls that consisted of the issuer's review of a sample of customer invoices to verify the pricing and other information reflected in the selected invoices. The firm did not identify and test any controls over the completeness of the population the issuer used to select invoices for review in the operation of these controls. (AS 2201.39) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 2201.39 | Incorrect opinion |
| 4 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm selected for testing various controls that consisted of the issuer's review and/or reconciliation of certain system-generated data and reports used to recognize revenue and the issuer's follow-up on missing or duplicate data files. The firm did not identify and test any controls over the accuracy and completeness of the system-generated information used in the operation of these controls. (AS 2201.39) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 2201.39 | Incorrect opinion |
| 5 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm selected for testing various automated controls that consisted of the configuration of the information technology (IT) system to automatically perform certain functions based on pre-established parameters. The firm's testing of these automated controls was not sufficient because the firm did not evaluate the program logic of these controls beyond obtaining certain documentation from the vendor or perform other procedures that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 2201.42; AS 2201.44 | Incorrect opinion |
| 6 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm did not identify and test controls that addressed certain risks of material misstatement related to certain revenue. (AS 2201.39) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 2201.39 | Incorrect opinion |
| 7 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm did not identify and test any controls over the issuer's evaluation of certain customer contract terms to ensure that the corresponding revenue was recognized in conformity with IFRS. (AS 2201.39) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 2201.39 | Incorrect opinion |
| 8 | Revenue | The issuer recognized revenue from multiple revenue sources. The following deficiencies were identified with respect to the firm's ICFR audit: • The firm selected for testing various other controls but did not perform any procedures to test or test any controls over the completeness of the populations from which it made its selections for testing. (AS 1105.10) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that additional material weaknesses existed that had not been previously identified. The issuer subsequently reflected these additional material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on ICFR to include these additional material weaknesses. Both financial statement and ICFR audits | AS 1105.10 | Incorrect opinion |
| 9 | Revenue | The firm's approach for substantively testing certain revenue included performing a software-assisted analysis to test the relationships among revenue accounts receivable deferred revenue and cash receipts. The reliability of the audit evidence obtained from this analysis was dependent upon the firm's testing of cash receipts data underlying the analysis. The firm also performed tests of details and substantive analytical procedures over the revenue using data from system-generated reports provided by the issuer. The following deficiency was identified: • With respect to the software-assisted analysis the firm did not perform procedures to test the cash receipts data underlying the analysis. (AS 1105.10) Both financial statement and ICFR audits | AS 1105.10 | Incorrect opinion |
| 10 | Revenue | The firm's approach for substantively testing certain revenue included performing a software-assisted analysis to test the relationships among revenue accounts receivable deferred revenue and cash receipts. The reliability of the audit evidence obtained from this analysis was dependent upon the firm's testing of cash receipts data underlying the analysis. The firm also performed tests of details and substantive analytical procedures over the revenue using data from system-generated reports provided by the issuer. The following deficiency was identified: • With respect to the tests of details and substantive analytical procedures the firm did not perform any procedures to test or test any controls over the accuracy and completeness of the data or system-generated reports it used to perform the procedures. (AS 1105.10; AS 2305.16) Both financial statement and ICFR audits | AS 1105.10; AS 2305.16 | Incorrect opinion |
| 11 | Revenue | The firm did not perform procedures to evaluate whether certain revenue was recognized in conformity with IFRS. (AS 2301.08) Both financial statement and ICFR audits | AS 2301.8 | Incorrect opinion |
| 12 | Revenue | The firm's approach for substantively testing certain other revenue consisted primarily of performing a software-assisted analysis to test the relationships among revenue accounts receivable and cash receipts. The reliability of the audit evidence obtained from this analysis was dependent upon the appropriateness of the data underlying the analysis. The firm included data from certain non-revenue related accounts including expense liability and non-cash general ledger accounts in the analysis. The firm did not perform sufficient procedures to evaluate whether the data used in the analysis was appropriate because it did not evaluate the implications of including certain data from these non-revenue related accounts in the analysis on the sufficiency and appropriateness of the underlying data. (AS 1105.10) Both financial statement and ICFR audits | AS 1105.10 | Incorrect opinion |
| 13 | Journal Entries | The firm identified journal entries that met certain risk criteria but did not examine the underlying support for the journal entries. (AS 2401.61) Both financial statement and ICFR audits | AS 2401.61 | Incorrect opinion |