Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 39 The firm did not identify and test any controls over the issuer's evaluation of whether there were any terms and conditions outside of the sales orders that created enforceable rights and obligations which could affect the recognition of revenue pursuant to the FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2201.39) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606 because it did not evaluate whether there were any terms and conditions outside of the sales orders that created enforceable rights and obligations which could affect the recognition of revenue. (AS 2301.08 and .13) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm did not perform sufficient procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606 because it did not evaluate whether there were any terms and conditions outside of the sales orders that created enforceable rights and obligations which could affect the recognition of revenue. (AS 2301.08 and .13) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Doubtful Accounts 3 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of the allowance for doubtful accounts (AFDA) including the review of the AFDA methodology which is determined on a quarterly basis. The firm did not evaluate the specific review procedures that the control owner performed to evaluate the reasonableness of the rates used to determine the AFDA beyond reviewing the control owner's assessment that the rates used were in compliance with the issuer's AFDA methodology. (AS 2201.42 and .44) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Doubtful Accounts 3 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of the allowance for doubtful accounts (AFDA) including the review of the AFDA methodology which is determined on a quarterly basis. The firm did not evaluate the specific review procedures that the control owner performed to evaluate the reasonableness of the rates used to determine the AFDA beyond reviewing the control owner's assessment that the rates used were in compliance with the issuer's AFDA methodology. (AS 2201.42 and .44) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Doubtful Accounts 4 AS 2501 21 The firm's approach for substantively testing the issuer's AFDA was to develop an independent expectation. The firm did not take into account (1) the requirements of an element of FASB ASC Topic 326 Financial Instruments - Credit Losses and (2) its understanding of the issuer's process so that its independent expectation considered the factors relevant to the estimate. Additionally the firm did not perform procedures to demonstrate that it had a reasonable basis for the method and assumptions it used to develop its independent estimate. (AS 2501.21 and .22) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Doubtful Accounts 4 AS 2501 22 The firm's approach for substantively testing the issuer's AFDA was to develop an independent expectation. The firm did not take into account (1) the requirements of an element of FASB ASC Topic 326 Financial Instruments - Credit Losses and (2) its understanding of the issuer's process so that its independent expectation considered the factors relevant to the estimate. Additionally the firm did not perform procedures to demonstrate that it had a reasonable basis for the method and assumptions it used to develop its independent estimate. (AS 2501.21 and .22) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Related Party Transactions 5 AS 2201 39 The firm did not identify and test any controls over the issuer's identification of related parties and relationships and transactions with related parties. (AS 2201.39) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 1105 10 The firm did not test or test any controls over the accuracy and completeness of certain data from a report used to substantively test revenue. (AS 1105.10) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Allowance for Doubtful Accounts 2 AS 2301 8 With respect to the allowance for doubtful accounts the firm was instructed by the lead auditor to perform certain substantive procedures to test the accounts receivable aging buckets of the component. The firm did not perform any procedures to test the component's accounts receivable aging buckets as instructed by the lead auditor. (AS 2301.08) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 8 With respect to certain inventory the firm was instructed by the lead auditor to perform substantive procedures to test the valuation of the inventory including price testing at the stock keeping unit (SKU) level for which the firm was instructed to test every invoice that makes up the SKU category selected for testing. The firm did not test every invoice that made up the selected SKU category as instructed by the lead auditor. (AS 2301.08) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The firm did not test or test any controls over the accuracy and completeness of certain data used to substantively test revenue beyond obtaining evidence of payment for selected transactions. (AS 1105.10) Triennially Inspected 1274 BDO Limited 2025 Hong Kong BDO International Limited 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Cash and Cash Equivalents 2 AS 2310 28 The firm used an external digital confirmation platform to confirm cash but did not perform procedures to support its reliance on this digital platform's ability to maintain control over the confirmation requests and responses for the year under audit. (AS 2310.28) Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 1 AS 2201 39 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 2 AS 2201 39 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 3 AS 2201 39 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 4 AS 2201 39 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 5 AS 2201 42 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 5 AS 2201 44 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 6 AS 2201 39 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 7 AS 2201 39 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 8 AS 1105 10 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. Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 9 AS 1105 10 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) Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 10 AS 1105 10 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) Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 10 AS 2305 16 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) Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 11 AS 2301 8 The firm did not perform procedures to evaluate whether certain revenue was recognized in conformity with IFRS. (AS 2301.08) Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 12 AS 1105 10 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) Triennially Inspected 1284 MANCERA, S.C. 2024 Mexico Ernst & Young Global Limited 2025-12-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Journal Entries Fraud Risk 13 AS 2401 61 The firm identified journal entries that met certain risk criteria but did not examine the underlying support for the journal entries. (AS 2401.61) Triennially Inspected 2516 Da Hua CPAs (Special General Partnership) 2025 China 2025-12-22T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Prepayments 1 AS 2310 31 To test certain prepayments the firm sent positive confirmation requests to a sample of the issuer's vendors. For certain positive confirmation requests for which it did not receive a response the firm did not perform alternative procedures that provided sufficient appropriate audit evidence. (AS 2310.31) Triennially Inspected 2516 Da Hua CPAs (Special General Partnership) 2025 China 2025-12-22T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accrued Expenses 2 AS 2310 31 The firm was instructed by the principal auditor to perform certain procedures to test the existence of accrued expenses which included sending positive confirmation requests to a sample of the issuer's vendors. The following deficiency was identified: • For one confirmation request that was not returned the firm did not perform alternative procedures that provided sufficient appropriate audit evidence that the accrued expense existed as of year end. (AS 2310.31) Triennially Inspected 2516 Da Hua CPAs (Special General Partnership) 2025 China 2025-12-22T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accrued Expenses 3 AS 2310 29 The firm was instructed by the principal auditor to perform certain procedures to test the existence of accrued expenses which included sending positive confirmation requests to a sample of the issuer's vendors. The following deficiency was identified: • The firm received electronic responses to certain confirmation requests. The firm did not consider performing procedures to address the risks associated with electronic responses such as verifying the source and contents of the confirmation responses. (AS 2310.29) Triennially Inspected 2516 Da Hua CPAs (Special General Partnership) 2025 China 2025-12-22T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Deferred Revenue 4 AS 2301 8 The firm was instructed by the principal auditor to perform certain procedures to test the existence of deferred revenue. The firm selected a sample of balances to test certain deferred revenue but did not perform any procedures to evaluate whether the balances represented liabilities as of year end. (AS 2301.08) Triennially Inspected 2516 Da Hua CPAs (Special General Partnership) 2025 China 2025-12-22T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Deferred Revenue 5 AS 1105 10 The firm was instructed by the principal auditor to perform certain procedures to test the existence of deferred revenue. The firm did not perform procedures to test or identify and test any controls over the completeness of an issuer-prepared report from which it made certain of its selections for testing. (AS 1105.10) Triennially Inspected 2516 Da Hua CPAs (Special General Partnership) 2025 China 2025-12-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 1105 10 The firm was instructed by the principal auditor to perform year-end cut-off procedures. The firm did not perform procedures to test or identify and test any controls over the completeness of the system-generated report used to select samples subsequent to year end to test cut-off. (AS 1105.10) Triennially Inspected 2516 Da Hua CPAs (Special General Partnership) 2025 China 2025-12-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 2 AS 1105 10 The issuer's policy is to apply payments to the oldest outstanding accounts receivable balance first. The firm used system-generated accounts receivable aging reports to substantively test the allowance for credit losses. The firm did not perform sufficient procedures to test the accuracy of these reports because it did not perform procedures to evaluate whether any accounts receivable balances were inappropriately removed from the aging reports due to the issuer's policy while other accounts receivable balances inappropriately remained. (AS 1105.10) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 1105 A8a During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair values of the acquired assets including certain intangible assets. The following deficiency was identified. • The firm did not perform procedures to (1) evaluate the relevance and reliability of certain external data that the company's specialist used to develop assumptions considered significant by the firm and (2) test the accuracy and completeness of certain issuer-produced data that the company's specialist used to develop other assumptions also considered significant by the firm all of which were used by the company's specialist to determine the fair values of these intangible assets. (AS 1105.A8a) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 2 AS 1105 A8b During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair values of the acquired assets including certain intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the reasonableness of an assumption considered significant by the firm developed by the company's specialist and used by the specialist to determine the fair values of the intangible assets beyond determining that the selected value of the assumption was the midpoint in a range of potential assumptions from an external source used by the issuer. (AS 1105.A8b) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 1105 4 During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair values of the acquired assets including certain intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the relevance and reliability of certain industry and other external information provided by the issuer that was used by the firm to evaluate the reasonableness of the issuer's revenue forecast. (AS 1105.04 and .06) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 1105 6 During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair values of the acquired assets including certain intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the relevance and reliability of certain industry and other external information provided by the issuer that was used by the firm to evaluate the reasonableness of the issuer's revenue forecast. (AS 1105.04 and .06) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 2501 16 During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair values of the acquired assets including certain intangible assets. The following deficiency was identified. • The firm did not perform sufficient procedures to evaluate the reasonableness of the issuer's revenue forecasts used by the company's specialist to determine the fair values of the intangible assets because it did not (1) perform procedures to evaluate whether the issuer had a reasonable basis for these significant assumptions and (2) take into account the issuer's intent and ability to meet the revenue predictions including whether the issuer has the financial resources and/or other means to meet the projections. (AS 2501.16 and .17) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 2501 17 During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair values of the acquired assets including certain intangible assets. The following deficiency was identified. • The firm did not perform sufficient procedures to evaluate the reasonableness of the issuer's revenue forecasts used by the company's specialist to determine the fair values of the intangible assets because it did not (1) perform procedures to evaluate whether the issuer had a reasonable basis for these significant assumptions and (2) take into account the issuer's intent and ability to meet the revenue predictions including whether the issuer has the financial resources and/or other means to meet the projections. (AS 2501.16 and .17) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Cash and Cash Equivalents 5 AS 2310 28 The firm used an external digital confirmation platform to confirm cash but did not perform any procedures to support its reliance on this digital platform's ability to maintain control over the confirmation requests and responses. (AS 2310.28) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 6 AS 2410 12 The firm did not perform sufficient procedures to test a related party transaction because it did not (1) read the underlying documentation and evaluate whether the terms and other information about the transaction were consistent with explanations from inquiries and other audit evidence about the business purpose (or the lack thereof) of the transaction (2) determine whether the transaction had been authorized and approved in accordance with the issuer's established policies and procedures and (3) determine whether any exceptions to the issuer's established policies and procedures were granted. (AS 2410.12) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The issuer recognized revenue from multiple revenue sources. The following deficiency was identified: • The firm did not perform any procedures to test (1) contractual arrangements to determine whether certain revenue was recorded in accordance with IFRS 15 Revenue from Contracts with Customers and (2) whether the issuer's performance obligations had been satisfied before revenue recognition beyond obtaining and reviewing internally generated customer invoices. (AS 2301.08 and .13) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The issuer recognized revenue from multiple revenue sources. The following deficiency was identified: • The firm did not perform any procedures to test (1) contractual arrangements to determine whether certain revenue was recorded in accordance with IFRS 15 Revenue from Contracts with Customers and (2) whether the issuer's performance obligations had been satisfied before revenue recognition beyond obtaining and reviewing internally generated customer invoices. (AS 2301.08 and .13) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The issuer recognized revenue from multiple revenue sources. The following deficiency was identified: • The firm did not perform any procedures to test certain other revenue. (AS 2301.08 and .13) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The issuer recognized revenue from multiple revenue sources. The following deficiency was identified: • The firm did not perform any procedures to test certain other revenue. (AS 2301.08 and .13) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 2501 7 During the year the issuer acquired a business and engaged an external specialist to assist in determining the purchase price allocation and fair values of the acquired assets including certain goodwill and other intangible assets. The following deficiency was identified. • The firm did not perform procedures to test the purchase price allocation and fair value of the goodwill and other intangible assets acquired in the business combination beyond obtaining and reading the valuation reports prepared by the company's specialist and agreeing amounts from those reports to the general ledger. (AS 2501.07) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1105 A10 During the year the issuer acquired a business and engaged an external specialist to assist in determining the purchase price allocation and fair values of the acquired assets including certain goodwill and other intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1105 A6 During the year the issuer acquired a business and engaged an external specialist to assist in determining the purchase price allocation and fair values of the acquired assets including certain goodwill and other intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1105 A7 During the year the issuer acquired a business and engaged an external specialist to assist in determining the purchase price allocation and fair values of the acquired assets including certain goodwill and other intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1105 A8 During the year the issuer acquired a business and engaged an external specialist to assist in determining the purchase price allocation and fair values of the acquired assets including certain goodwill and other intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1105 A9 During the year the issuer acquired a business and engaged an external specialist to assist in determining the purchase price allocation and fair values of the acquired assets including certain goodwill and other intangible assets. The following deficiency was identified. • The firm did not perform procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 1 AS 2301 8 The issuer reported intangible assets and performed an assessment of those assets for possible impairment. The principal auditor instructed the firm to perform procedures to test the valuation of these assets including an evaluation of indicators of impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether the issuer had capitalized the costs associated with these intangible assets in accordance with IAS 38 Intangible Assets beyond inquiry of management and reading management's assessment of the intangible assets. (AS 2301.08 and .11) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 1 AS 2301 11 The issuer reported intangible assets and performed an assessment of those assets for possible impairment. The principal auditor instructed the firm to perform procedures to test the valuation of these assets including an evaluation of indicators of impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether the issuer had capitalized the costs associated with these intangible assets in accordance with IAS 38 Intangible Assets beyond inquiry of management and reading management's assessment of the intangible assets. (AS 2301.08 and .11) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 2 AS 2501 7 The issuer reported intangible assets and performed an assessment of those assets for possible impairment. The principal auditor instructed the firm to perform procedures to test the valuation of these assets including an evaluation of indicators of impairment. The following deficiency was identified: • The firm did not perform procedures to test the impairment expense recorded by the issuer related to these intangible assets beyond inquiry of management. (AS 2501.07) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 3 AS 2301 8 The issuer reported intangible assets and performed an assessment of those assets for possible impairment. The principal auditor instructed the firm to perform procedures to test the valuation of these assets including an evaluation of indicators of impairment. The following deficiency was identified: • The firm did not perform any procedures to evaluate how management determined whether any indicators of impairment existed with respect to these intangible assets at year end. (AS 2301.08 and .11) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 3 AS 2301 11 The issuer reported intangible assets and performed an assessment of those assets for possible impairment. The principal auditor instructed the firm to perform procedures to test the valuation of these assets including an evaluation of indicators of impairment. The following deficiency was identified: • The firm did not perform any procedures to evaluate how management determined whether any indicators of impairment existed with respect to these intangible assets at year end. (AS 2301.08 and .11) Triennially Inspected 6622 PKF Brisbane Audit 2025 Australia 2025-12-22T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 4 AS 2301 8 The firm did not perform any procedures to evaluate whether certain assets met the definition of property plant and equipment in accordance with IAS 16 Property Plant and Equipment because the firm did not evaluate the business purpose of the assets beyond inquiry of management. (AS 2301.08) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 39 The issuer developed the ACL for loans collectively evaluated for impairment using various models that were maintained by a service organization. The firm obtained a service auditor's report for this service organization. The following deficiency was identified: • The firm did not identify and test any controls over the appropriateness of certain models that were not addressed by this service auditor's report. (AS 2201.39) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 42 The issuer developed the ACL for loans collectively evaluated for impairment using various models that were maintained by a service organization. The firm obtained a service auditor's report for this service organization. The following deficiency was identified: • The firm identified certain complementary user controls related to the issuer's validation and review of the outputs of the service organization's models that the service auditor's report described as necessary. The firm selected for testing a control to address the complementary user controls but did not identify that this control was not designed to satisfy the control objectives of the complementary user controls. (AS 2201.42 and .B22) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 B22 The issuer developed the ACL for loans collectively evaluated for impairment using various models that were maintained by a service organization. The firm obtained a service auditor's report for this service organization. The following deficiency was identified: • The firm identified certain complementary user controls related to the issuer's validation and review of the outputs of the service organization's models that the service auditor's report described as necessary. The firm selected for testing a control to address the complementary user controls but did not identify that this control was not designed to satisfy the control objectives of the complementary user controls. (AS 2201.42 and .B22) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2201 39 The issuer developed the ACL for loans collectively evaluated for impairment using various models that were maintained by a service organization. The firm obtained a service auditor's report for this service organization. The following deficiency was identified: • The firm selected for testing a control that consisted of the issuer's review of the ACL. The firm did not identify and test any controls over the accuracy and completeness of a report produced by the service organization that was used in the operation of this control. (AS 2201.39) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 4 AS 2201 42 The issuer developed the ACL for loans collectively evaluated for impairment using various models that were maintained by a service organization. The firm obtained a service auditor's report for this service organization. The following deficiency was identified: • The firm selected for testing a control that included the issuer's review of certain ACL assumptions that the service organization used in its models. The firm did not perform procedures to evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 4 AS 2201 44 The issuer developed the ACL for loans collectively evaluated for impairment using various models that were maintained by a service organization. The firm obtained a service auditor's report for this service organization. The following deficiency was identified: • The firm selected for testing a control that included the issuer's review of certain ACL assumptions that the service organization used in its models. The firm did not perform procedures to evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 5 AS 2201 39 The issuer developed the ACL for loans collectively evaluated for impairment using various models that were maintained by a service organization. The firm obtained a service auditor's report for this service organization. The following deficiency was identified: • The firm selected for testing a control that included the issuer's review of certain ACL assumptions that the service organization used in its models. The firm did not identify and test any controls over the review of an analysis that was prepared by a company specialist and used in the operation of this control. (AS 2201.39) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 6 AS 2201 42 The firm selected for testing certain controls over the review of changes to risk ratings credit quality monitoring collateral impairment analysis and loan write-offs. The firm did not perform procedures to evaluate the review procedures that the control owner 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) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 6 AS 2201 44 The firm selected for testing certain controls over the review of changes to risk ratings credit quality monitoring collateral impairment analysis and loan write-offs. The firm did not perform procedures to evaluate the review procedures that the control owner 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) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 7 AS 2201 39 The firm did not identify and test any or test aspects of controls over the accuracy and/or completeness of the loan delinquency data and certain other loan data that the issuer used in the operation of controls over the ACL the firm selected for testing. (AS 2201.39) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 8 AS 2301 8 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm used a report produced by the service organization in its substantive testing of the ACL but did not perform procedures to test or test any controls over the accuracy of this report. (AS 2301.08 and .11) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 8 AS 2301 11 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm used a report produced by the service organization in its substantive testing of the ACL but did not perform procedures to test or test any controls over the accuracy of this report. (AS 2301.08 and .11) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A1 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A10 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A2 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A3 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A4 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A5 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A6 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A7 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A8 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 1105 A9 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 9 AS 2501 10 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate whether certain of the models the issuer used were in conformity with the requirements of GAAP and appropriate for the nature of the ACL beyond reading the company's specialist's report. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - A.10; AS 2501.10) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 10 AS 2501 16 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used to develop the ACL beyond reading an issuer-prepared memorandum. (AS 2501.16) Triennially Inspected 286 Eide Bailly LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 11 AS 1105 10 The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used the work of company specialists to evaluate the appropriateness of certain of the models the issuer used to develop the ACL for loans collectively evaluated for impairment. The following deficiency was identified: • The firm used issuer-prepared loan delinquency data in its substantive testing of the ACL but did not perform procedures to test or test any controls over the accuracy of this data. (AS 1105.10) Triennially Inspected 726 Whitley Penn LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Significant Account Fraud Risk 1 AS 2201 42 The firm selected for testing certain controls over a significant account. For one control the firm did not evaluate the specific procedures that the control owner performed to determine that the significant account was appropriately recognized. (AS 2201.42 and .44) Triennially Inspected 726 Whitley Penn LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Significant Account Fraud Risk 1 AS 2201 44 The firm selected for testing certain controls over a significant account. For one control the firm did not evaluate the specific procedures that the control owner performed to determine that the significant account was appropriately recognized. (AS 2201.42 and .44) Triennially Inspected 726 Whitley Penn LLP 2025 United States 2025-12-08T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Significant Account Fraud Risk 2 AS 2201 39 The firm selected for testing certain controls over a significant account. For another control the firm did not identify and test any controls over the accuracy and completeness of the system-generated reports used in the operation of the control. (AS 2201.39) Triennially Inspected 1309 Kesselman & Kesselman C.P.A.s 2024 Israel PricewaterhouseCoopers International Limited 2025-12-08T00:00:00 Part I.A A Yes Financial statement audit only Audits with a single deficiency Journal Entries Fraud Risk 1 AS 2401 58 The firm was instructed by the principal auditor to perform procedures to test journal entries that met certain risk criteria as determined by the principal auditor to address a fraud risk related to management override of controls that was identified by the principal auditor. The firm did not identify and select journal entries and other adjustments for testing as instructed by the principal auditor. (AS 2401.58) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 1 AS 2201 42 The firm selected for testing certain controls over the issuer's review and approval of adjustments to debt. The firm did not evaluate the review procedures that the control owners performed including procedures to identify items for follow up and the procedures to determine whether those items were appropriately resolved. (AS 2201.42 and .44) Unrelated to our review the issuer reevaluated its accounting for certain debt and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm issued an audit report on the issuer's restated financial statements. Our procedures did not include review of any additional audit work related to the restatement. The issuer also reevaluated its controls over debt and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion. Our procedures did not include review of any additional audit work related to this material weakness. Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 1 AS 2201 44 The firm selected for testing certain controls over the issuer's review and approval of adjustments to debt. The firm did not evaluate the review procedures that the control owners performed including procedures to identify items for follow up and the procedures to determine whether those items were appropriately resolved. (AS 2201.42 and .44) Unrelated to our review the issuer reevaluated its accounting for certain debt and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm issued an audit report on the issuer's restated financial statements. Our procedures did not include review of any additional audit work related to the restatement. The issuer also reevaluated its controls over debt and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion. Our procedures did not include review of any additional audit work related to this material weakness. Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 2 AS 2810 30 The firm selected for testing certain controls over the issuer's review and approval of adjustments to debt. The firm did not identify and evaluate a departure from IFRS related to the issuer's accounting for and presentation of certain debt in conformity with IAS 32 Financial Instruments: Presentation. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its accounting for certain debt and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm issued an audit report on the issuer's restated financial statements. Our procedures did not include review of any additional audit work related to the restatement. The issuer also reevaluated its controls over debt and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion. Our procedures did not include review of any additional audit work related to this material weakness. Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 2 AS 2810 31 The firm selected for testing certain controls over the issuer's review and approval of adjustments to debt. The firm did not identify and evaluate a departure from IFRS related to the issuer's accounting for and presentation of certain debt in conformity with IAS 32 Financial Instruments: Presentation. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its accounting for certain debt and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm issued an audit report on the issuer's restated financial statements. Our procedures did not include review of any additional audit work related to the restatement. The issuer also reevaluated its controls over debt and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion. Our procedures did not include review of any additional audit work related to this material weakness. Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivables 3 AS 2201 39 The firm selected for testing certain controls over the issuer's review of accounts receivables and the allowance for credit losses. The firm did not identify and test any controls over the accuracy of reports used in the operation of these controls. (AS 2201.39) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 4 AS 2401 61 For certain of the issuer's subsidiaries the firm did not perform any procedures to identify and select journal entries and other adjustments for testing without having an appropriate basis for excluding those subsidiaries. (AS 2401.61) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The firm did not test or test any controls over the accuracy of certain system-generated reports used to substantively test revenue. (AS 1105.10) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 2 AS 2310 29 To test accounts receivable the firm sent positive confirmation requests to a sample of customer accounts. The firm did not consider performing procedures to address the risks associated with electronic responses such as verifying the source and contents of the confirmation responses. (AS 2310.29) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A1 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A10 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A2 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A3 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A4 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A5 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A6 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A7 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A8 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 1105 A9 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 2501 7 The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform procedures to test the inception date fair value of the significant account beyond obtaining and reading the company's specialist's report. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 4 AS 1105 A8b The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform any procedures to evaluate the reasonableness of a certain significant assumption developed and used by the company's specialist to estimate the year-end fair value of the significant account. (AS 1105.A8b) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 5 AS 1105 A8c The issuer engaged external specialists to assist in determining the fair value of a significant account at inception and at year-end. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate whether the methodology used by the company's specialist to develop the year-end fair value of the significant account was appropriate under the circumstances because the firm did not evaluate whether the data and significant assumptions were appropriately applied under the applicable financial reporting framework. (AS 1105.A8c) Triennially Inspected 5341 Manohar Chowdhry & Associates 2025 India 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries 1 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Financial Statement Presentation 1 AS 2810 30 The issuer presented its financial statements in a condensed format. The firm did not identify and appropriately address that the financial statements because they were condensed did not present fairly in all material respects the issuer's financial position the results of its operations and its cash flows in conformity with GAAP. (AS 2810.30 and .31) In connection with our review the issuer reevaluated the presentation of its financial statements and concluded that its financial statements should not have been presented in a condensed format. The issuer subsequently presented its financial statements in a non-condensed format in a restatement and the firm issued an audit report on the issuer's restated financial statements. Our procedures did not include review of any additional audit work related to the restatement. Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Financial Statement Presentation 1 AS 2810 31 The issuer presented its financial statements in a condensed format. The firm did not identify and appropriately address that the financial statements because they were condensed did not present fairly in all material respects the issuer's financial position the results of its operations and its cash flows in conformity with GAAP. (AS 2810.30 and .31) In connection with our review the issuer reevaluated the presentation of its financial statements and concluded that its financial statements should not have been presented in a condensed format. The issuer subsequently presented its financial statements in a non-condensed format in a restatement and the firm issued an audit report on the issuer's restated financial statements. Our procedures did not include review of any additional audit work related to the restatement. Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 2 AS 1105 4 The firm did not perform procedures to evaluate the reliability of external information it used to test certain revenue beyond comparing certain of the information to an issuer-produced report that was itself based on that external information. (AS 1105.04 and .06) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 2 AS 1105 6 The firm did not perform procedures to evaluate the reliability of external information it used to test certain revenue beyond comparing certain of the information to an issuer-produced report that was itself based on that external information. (AS 1105.04 and .06) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue Fraud Risk 3 AS 2301 8 For certain other revenue and the related deferred revenue the following deficiency was identified: • The firm did not evaluate whether the issuer was acting as a principal or as an agent for this revenue. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 3 AS 2301 8 For certain other revenue and the related deferred revenue the following deficiency was identified: • The firm did not evaluate whether the issuer was acting as a principal or as an agent for this revenue. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue Fraud Risk 4 AS 2301 8 For certain other revenue and the related deferred revenue the following deficiency was identified: • The firm did not perform procedures to test a revenue transaction it selected for testing beyond performing procedures on the related cost of goods sold. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 4 AS 2301 8 For certain other revenue and the related deferred revenue the following deficiency was identified: • The firm did not perform procedures to test a revenue transaction it selected for testing beyond performing procedures on the related cost of goods sold. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue Fraud Risk 5 AS 2301 8 For certain other revenue and the related deferred revenue the following deficiency was identified: • During the year for another transaction the issuer recognized certain revenue that had been previously deferred. The firm did not perform procedures beyond a certain recalculation to test the appropriateness of the recognition of this revenue in the current year and the continued deferral of the remaining revenue for this transaction. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 5 AS 2301 8 For certain other revenue and the related deferred revenue the following deficiency was identified: • During the year for another transaction the issuer recognized certain revenue that had been previously deferred. The firm did not perform procedures beyond a certain recalculation to test the appropriateness of the recognition of this revenue in the current year and the continued deferral of the remaining revenue for this transaction. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Related Party Transactions 6 AS 2410 12 The issuer reported stock-based compensation issued to related parties. The firm did not perform procedures to test this compensation beyond obtaining certain issuer-produced calculations. (AS 2410.12) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Related Party Transactions 7 AS 2410 17 The issuer reported stock-based compensation issued to related parties. The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to this compensation that are required by FASB ASC Topic 718 Compensation—Stock Compensation. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Related Party Transactions 7 AS 2810 30 The issuer reported stock-based compensation issued to related parties. The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to this compensation that are required by FASB ASC Topic 718 Compensation—Stock Compensation. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Related Party Transactions 7 AS 2810 31 The issuer reported stock-based compensation issued to related parties. The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to this compensation that are required by FASB ASC Topic 718 Compensation—Stock Compensation. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Related Party Transactions 8 AS 2410 17 The issuer reported a related party note receivable and related party loans payable. The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to this receivable and payable that are required by FASB ASC Topic 825 Financial Instruments and FASB ASC Topic 860 Transfers and Servicing. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Related Party Transactions 8 AS 2810 30 The issuer reported a related party note receivable and related party loans payable. The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to this receivable and payable that are required by FASB ASC Topic 825 Financial Instruments and FASB ASC Topic 860 Transfers and Servicing. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Related Party Transactions 8 AS 2810 31 The issuer reported a related party note receivable and related party loans payable. The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to this receivable and payable that are required by FASB ASC Topic 825 Financial Instruments and FASB ASC Topic 860 Transfers and Servicing. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 1 AS 2301 8 During the year the issuer reported a significant transaction. The following deficiency was identified: • The firm did not perform procedures to test whether the issuer appropriately accounted for certain aspects of this transaction. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 2 AS 2501 7 During the year the issuer reported a significant transaction. The following deficiency was identified: • The firm did not perform procedures to test the fair value of certain aspects of this transaction. (AS 2501.07) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 3 AS 1105 A6 During the year the issuer reported a significant transaction. The following deficiency was identified: • The issuer engaged an external specialist to determine the fair value of another aspect of this transaction. The firm did not perform procedures to test that fair value beyond obtaining and reading the valuation reports prepared by the company specialist. Further the firm did not perform any procedures to evaluate the work of the company specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 3 AS 1105 A7 During the year the issuer reported a significant transaction. The following deficiency was identified: • The issuer engaged an external specialist to determine the fair value of another aspect of this transaction. The firm did not perform procedures to test that fair value beyond obtaining and reading the valuation reports prepared by the company specialist. Further the firm did not perform any procedures to evaluate the work of the company specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 4 AS 1105 A8 During the year the issuer reported a significant transaction. The following deficiency was identified: • The issuer engaged an external specialist to determine the fair value of another aspect of this transaction. The firm did not perform procedures to test that fair value beyond obtaining and reading the valuation reports prepared by the company specialist. Further the firm did not perform any procedures to evaluate the work of the company specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 4 AS 1105 A9 During the year the issuer reported a significant transaction. The following deficiency was identified: • The issuer engaged an external specialist to determine the fair value of another aspect of this transaction. The firm did not perform procedures to test that fair value beyond obtaining and reading the valuation reports prepared by the company specialist. Further the firm did not perform any procedures to evaluate the work of the company specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 5 AS 1105 A10 During the year the issuer reported a significant transaction. The following deficiency was identified: • The issuer engaged an external specialist to determine the fair value of another aspect of this transaction. The firm did not perform procedures to test that fair value beyond obtaining and reading the valuation reports prepared by the company specialist. Further the firm did not perform any procedures to evaluate the work of the company specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 5 AS 2501 7 During the year the issuer reported a significant transaction. The following deficiency was identified: • The issuer engaged an external specialist to determine the fair value of another aspect of this transaction. The firm did not perform procedures to test that fair value beyond obtaining and reading the valuation reports prepared by the company specialist. Further the firm did not perform any procedures to evaluate the work of the company specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 6 AS 2301 8 During the year the issuer reported a significant transaction. The following deficiency was identified: • The firm did not perform procedures to test the existence and completeness of certain aspects of this transaction. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 7 AS 2810 30 During the year the issuer reported a significant transaction. The following deficiency was identified: • The firm did not identify and evaluate GAAP departures related to the issuer's omission of and inaccurate disclosures related to this significant transaction. (AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transaction 7 AS 2810 31 During the year the issuer reported a significant transaction. The following deficiency was identified: • The firm did not identify and evaluate GAAP departures related to the issuer's omission of and inaccurate disclosures related to this significant transaction. (AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 8 AS 2301 41 The issuer reported several types of revenue. The following deficiency was identified: • The firm did not perform any substantive procedures to examine a material adjustment the issuer made to revenue during the course of preparing the financial statements. (AS 2301.41) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 8 The issuer reported several types of revenue. The following deficiency was identified: • For one type of revenue the firm did not perform procedures to evaluate whether the issuer satisfied its performance obligations before recognizing revenue. (AS 2301.08 and .13) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 13 The issuer reported several types of revenue. The following deficiency was identified: • For one type of revenue the firm did not perform procedures to evaluate whether the issuer satisfied its performance obligations before recognizing revenue. (AS 2301.08 and .13) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 10 AS 2301 8 The issuer reported several types of revenue. The following deficiency was identified: • For other types of revenue the firm did not perform procedures to evaluate whether the issuer satisfied its performance obligations beyond obtaining evidence of cash receipts or an issuerprepared schedule in certain instances. (AS 2301.08 and .13) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 10 AS 2301 13 The issuer reported several types of revenue. The following deficiency was identified: • For other types of revenue the firm did not perform procedures to evaluate whether the issuer satisfied its performance obligations beyond obtaining evidence of cash receipts or an issuerprepared schedule in certain instances. (AS 2301.08 and .13) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 11 AS 2301 8 The firm did not perform any substantive procedures to evaluate the classification of deferred revenue as current or non-current. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 12 AS 2810 30 The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to revenue and deferred revenue that are required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 12 AS 2810 30 The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to revenue and deferred revenue that are required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 12 AS 2810 31 The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to revenue and deferred revenue that are required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 12 AS 2810 31 The firm did not identify and evaluate GAAP departures related to the issuer's omission of disclosures related to revenue and deferred revenue that are required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 13 AS 2401 61 The firm did not consider the characteristics of potentially fraudulent journal entries when identifying and selecting entries for testing. (AS 2401.61) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform any substantive procedures to test revenue. (AS 2301.08 and .13) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform any substantive procedures to test revenue. (AS 2301.08 and .13) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Assets 2 AS 2301 8 The firm did not perform any substantive procedures to evaluate how the issuer tested its intangible assets for potential impairment as events or changes in circumstances existed that indicated that the carrying amount of the intangible assets may not be recoverable. (AS 2301.08) Triennially Inspected 6797 Bush & Associates CPA LLC 2025 United States 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 61 The firm did not consider the characteristics of potentially fraudulent journal entries when identifying and selecting entries for testing. (AS 2401.61) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Equity-Related Transactions Fraud Risk 1 AS 2501 16 The firm's approach for substantively testing the valuation of certain equity-related transactions was to test the issuer's process. The firm did not perform sufficient procedures to evaluate whether the issuer had a reasonable basis for certain of the significant assumptions used to estimate the valuation of these equity-related transactions because the firm did not evaluate how the issuer considered certain relevant factors required under GAAP when developing these significant assumptions. (AS 2501.16) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Equity-Related Transactions Fraud Risk 2 AS 2501 10 In addition the firm did not identify and evaluate departures from GAAP related to: • the issuer's method used to record estimated expenses associated with these transactions; (AS 2501.10) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Equity-Related Transactions Fraud Risk 3 AS 2810 30 In addition the firm did not identify and evaluate departures from GAAP related to: • the issuer's omission of certain disclosures required under GAAP for these transactions. (AS 2810.30 and .31) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Equity-Related Transactions Fraud Risk 3 AS 2810 31 In addition the firm did not identify and evaluate departures from GAAP related to: • the issuer's omission of certain disclosures required under GAAP for these transactions. (AS 2810.30 and .31) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2501 16 The issuer engaged a specialist to perform an assessment of goodwill for possible impairment. The firm's approach for substantively testing this impairment assessment was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer and used in this impairment analysis. (AS 2501.16) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 2501 16 The issuer engaged a specialist to perform an assessment of goodwill for possible impairment. The firm's approach for substantively testing this impairment assessment was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of certain other significant assumptions developed by the issuer and used in this impairment analysis beyond performing a sensitivity analysis. (AS 2501.16) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform substantive procedures beyond obtaining certain cash receipt evidence to evaluate (1) whether the performance obligations had been satisfied before revenue was recognized and (2) the accuracy of the transaction price used to record revenue. (AS 2301.08 and .13) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform substantive procedures beyond obtaining certain cash receipt evidence to evaluate (1) whether the performance obligations had been satisfied before revenue was recognized and (2) the accuracy of the transaction price used to record revenue. (AS 2301.08 and .13) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 2 AS 2501 10 The issuer engaged a specialist to perform an assessment of goodwill for possible impairment using cash-flow forecasts. The firm's approach for substantively testing this impairment assessment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate whether the issuer's method to determine the fair value used in the assessment that excluded certain costs from these cash-flow forecasts was in conformity with GAAP. (AS 2501.10) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 3 AS 2501 16 The issuer engaged a specialist to perform an assessment of goodwill for possible impairment using cash-flow forecasts. The firm's approach for substantively testing this impairment assessment was to test the issuer's process. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the reasonableness of a significant assumption developed by the issuer because its procedures were limited to comparing this assumption with the assumption used in prior years' impairment assessments. Further the firm did not evaluate a significant difference between this assumption and the issuer's historical experience. (AS 2501.16) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2501 16 The issuer engaged a specialist to perform an assessment of goodwill for possible impairment using cash-flow forecasts. The firm's approach for substantively testing this impairment assessment was to test the issuer's process. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the reasonableness of another significant assumption developed by the issuer because it did not evaluate the consistency of this assumption with historical or recent experience taking into account that this assumption was based on certain conditions or events that affected the company in the current year that may not recur in future years. (AS 2501.16) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1105 A8b The issuer engaged a specialist to perform an assessment of goodwill for possible impairment using cash-flow forecasts. The firm's approach for substantively testing this impairment assessment was to test the issuer's process. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist because the firm did not perform any procedures to evaluate the reasonableness of a component of this assumption. (AS 1105.A8b) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Significant Transaction 1 AS 2810 30 During the year the issuer entered into a significant transaction. The following deficiency was identified: • The firm did not identify and evaluate certain departures from GAAP related to the issuer's accounting for and disclosures associated with this transaction. (AS 2810.30 and .31) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Significant Transaction 1 AS 2810 31 During the year the issuer entered into a significant transaction. The following deficiency was identified: • The firm did not identify and evaluate certain departures from GAAP related to the issuer's accounting for and disclosures associated with this transaction. (AS 2810.30 and .31) Triennially Inspected 6816 Elkana Amitai CPA 2024 Israel 2025-12-08T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Significant Transaction 2 AS 2301 8 During the year the issuer entered into a significant transaction. The following deficiency was identified: • The firm did not evaluate the appropriateness of certain other aspects of the issuer's accounting for this transaction. (AS 2301.08) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 1 AS 2301 8 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not evaluate whether the issuer accounted for certain aspects of these accounts in conformity with GAAP. (AS 2301.08 and .11) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 1 AS 2301 11 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not evaluate whether the issuer accounted for certain aspects of these accounts in conformity with GAAP. (AS 2301.08 and .11) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 2 AS 2501 10 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not evaluate whether the method used to develop an estimate related to one of the significant accounts was in conformity with GAAP and appropriate for the nature of the account taking into account the firm's understanding of the issuer and its environment. (AS 2501.10) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 3 AS 2501 16 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not evaluate the reasonableness of certain significant assumptions the issuer developed and used to estimate the value of the significant accounts. (AS 2501.16) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 4 AS 2501 16 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not evaluate the reasonableness of another significant assumption the issuer used to estimate one of the significant accounts beyond comparing it to external data without evaluating the significant difference between the external data and the assumption used by the issuer. (AS 2501.16) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 5 AS 2501 16 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not perform procedures to demonstrate that it had a reasonable basis for an expectation it developed to evaluate the reasonableness of a significant assumption used by the issuer to estimate the significant accounts. (AS 2501.16) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 6 AS 1105 4 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not perform procedures to test the reliability of certain information it used to develop its expectation of the significant assumption. (AS 1105.04 and .06) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 6 AS 1105 6 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not perform procedures to test the reliability of certain information it used to develop its expectation of the significant assumption. (AS 1105.04 and .06) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 7 AS 1105 4 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not perform sufficient procedures to test the relevance of certain information used by the issuer to develop an estimate related to the significant accounts because it did not consider certain factors related to the information. (AS 1105.04 and .06) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 7 AS 1105 6 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not perform sufficient procedures to test the relevance of certain information used by the issuer to develop an estimate related to the significant accounts because it did not consider certain factors related to the information. (AS 1105.04 and .06) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 8 AS 2810 30 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain required disclosures related to one of the significant accounts. (AS 2810.30 and .31) Triennially Inspected 29 Sassetti LLC 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 8 AS 2810 31 The issuer reported certain significant accounts. The following deficiency was identified: • The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain required disclosures related to one of the significant accounts. (AS 2810.30 and .31) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm did not perform any substantive procedures to evaluate the issuer's contract terms with its customers to determine whether the issuer recognized revenue in conformity with FASB ASC Topic 606 Revenues from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm did not perform any substantive procedures to evaluate the issuer's contract terms with its customers to determine whether the issuer recognized revenue in conformity with FASB ASC Topic 606 Revenues from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm did not sufficiently evaluate the issuer's identification of performance obligations because it did not evaluate (1) the issuer's basis for concluding that the goods or services or bundles thereof represented single or multiple performance obligations including any ‘series' performance obligations; and (2) whether any performance obligations met the criteria for recognition over time. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm did not sufficiently evaluate the issuer's identification of performance obligations because it did not evaluate (1) the issuer's basis for concluding that the goods or services or bundles thereof represented single or multiple performance obligations including any ‘series' performance obligations; and (2) whether any performance obligations met the criteria for recognition over time. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm did not perform any procedures to test whether performance obligations had been satisfied before revenue was recognized for all but four transactions selected for testing. (AS 2301.08 and .13) For two of these transactions the firm did not test or test any controls over the completeness and accuracy of issuer-produced information used in its substantive testing. (AS 1105.10) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 13 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm did not perform any procedures to test whether performance obligations had been satisfied before revenue was recognized for all but four transactions selected for testing. (AS 2301.08 and .13) For two of these transactions the firm did not test or test any controls over the completeness and accuracy of issuer-produced information used in its substantive testing. (AS 1105.10) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm did not perform any procedures to test whether performance obligations had been satisfied before revenue was recognized for all but four transactions selected for testing. (AS 2301.08 and .13) For two of these transactions the firm did not test or test any controls over the completeness and accuracy of issuer-produced information used in its substantive testing. (AS 1105.10) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 16 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm's sample was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowance for incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 19 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm's sample was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowance for incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm's sample was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowance for incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23A Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer recognized revenue from certain contracts as either single performance obligations or multiple performance obligations satisfied at a point in time. The firm's substantive procedures to test revenue consisted of selecting a sample of transactions for testing. The following deficiency was identified: • The firm's sample was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowance for incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 8 The firm did not evaluate whether the issuer's accounting for certain revenue as the principal rather than as an agent was appropriate. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 13 The firm did not evaluate whether the issuer's accounting for certain revenue as the principal rather than as an agent was appropriate. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 7 AS 2310 26 The firm's approach to testing accounts receivable included sending a positive confirmation request to the issuer's largest customer. The firm sent the confirmation request to a respondent who was an employee of the issuer who also performed contract work for the customer without considering the respondent's objectivity and freedom from bias and whether the response that was received by the firm provided meaningful and appropriate evidence. (AS 2310.26 and .27) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 7 AS 2310 27 The firm's approach to testing accounts receivable included sending a positive confirmation request to the issuer's largest customer. The firm sent the confirmation request to a respondent who was an employee of the issuer who also performed contract work for the customer without considering the respondent's objectivity and freedom from bias and whether the response that was received by the firm provided meaningful and appropriate evidence. (AS 2310.26 and .27) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 8 AS 2301 8 The firm also traced one invoice due from another customer to subsequent cash receipts. The firm did not perform any procedures to test the remaining accounts receivable balance. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 8 AS 2301 13 The firm also traced one invoice due from another customer to subsequent cash receipts. The firm did not perform any procedures to test the remaining accounts receivable balance. (AS 2301.08 and .13) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Assets Significant Risk 9 AS 2301 8 During the year events or changes in circumstances existed indicating that the carrying value of the significant assets may not be recoverable. The firm did not evaluate whether the issuer performed an assessment of these assets for possible impairment. (AS 2301.08; AS 2810.03) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Assets Significant Risk 9 AS 2810 3 During the year events or changes in circumstances existed indicating that the carrying value of the significant assets may not be recoverable. The firm did not evaluate whether the issuer performed an assessment of these assets for possible impairment. (AS 2301.08; AS 2810.03) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Assets Significant Risk 10 AS 2301 8 The issuer developed an estimate related to certain other of these significant assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: • The firm did not perform any procedures beyond inquiry to evaluate the appropriateness of the issuer's classification of certain significant assets. (AS 2301.08 and .11) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Assets Significant Risk 10 AS 2301 11 The issuer developed an estimate related to certain other of these significant assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: • The firm did not perform any procedures beyond inquiry to evaluate the appropriateness of the issuer's classification of certain significant assets. (AS 2301.08 and .11) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Assets Significant Risk 11 AS 2501 10 The issuer developed an estimate related to certain other of these significant assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: • The firm did not sufficiently evaluate whether the issuer's method used to determine an estimate related to the significant assets was in conformity with GAAP because it did not evaluate whether the method considered a certain significant assumption. (AS 2501.10) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Assets Significant Risk 12 AS 2501 16 The issuer developed an estimate related to certain other of these significant assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate whether the issuer had a reasonable basis for using a certain significant assumption used to develop an estimate related to the significant assets. (AS 2501.16) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Assets Significant Risk 13 AS 1105 10 The issuer developed an estimate related to certain other of these significant assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: • The firm did not test or test any controls over the accuracy and completeness of certain data used to determine the estimate. (AS 1105.10) Triennially Inspected 314 Meaden & Moore, Ltd. 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 14 AS 2401 61 To identify and select journal entries for testing the firm identified fraud characteristics and obtained a list of all journal entries with these characteristics. The firm did not perform sufficient procedures to test those journal entries because it examined the underlying support for only certain of the journal entries without having an appropriate rationale for limiting its testing to those certain journal entries. (AS 2401.61) Triennially Inspected 400 Hacker, Johnson & Smith PA 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Certain Liabilities 1 AS 2301 8 The firm did not perform procedures to evaluate whether the issuer's accounting for and disclosure of certain liabilities were in conformity with GAAP. (AS 2301.08) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed the Revenue and Related Accounts area and also identified certain of the deficiencies below. The firm did not perform any test of details to address the fraud risk related to the occurrence of certain revenue. (AS 2301.08 and .13) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed the Revenue and Related Accounts area and also identified certain of the deficiencies below. The firm did not perform any test of details to address the fraud risk related to the occurrence of certain revenue. (AS 2301.08 and .13) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 2 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed the Revenue and Related Accounts area and also identified certain of the deficiencies below. The firm did not perform procedures to test or test controls over the accuracy and completeness of certain system-generated reports that it used to test certain other revenue. (AS 1105.10) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 3 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed the Revenue and Related Accounts area and also identified certain of the deficiencies below. The firm did not perform any substantive procedures to test deferred revenue. (AS 2301.08) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 4 AS 2501 21 The firm's approach for substantively testing the issuer's impairment analysis for certain investments was to develop an independent expectation. The following deficiency was identified. • The firm did not perform procedures to demonstrate that it had a reasonable basis for the method and assumptions it used including taking into account (1) the requirements of certain elements of the applicable financial reporting framework and (2) its understanding of the issuer's process including the issuer's use of a flat rate for impairment so that its independent expectation considered the factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 4 AS 2501 22 The firm's approach for substantively testing the issuer's impairment analysis for certain investments was to develop an independent expectation. The following deficiency was identified. • The firm did not perform procedures to demonstrate that it had a reasonable basis for the method and assumptions it used including taking into account (1) the requirements of certain elements of the applicable financial reporting framework and (2) its understanding of the issuer's process including the issuer's use of a flat rate for impairment so that its independent expectation considered the factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 5 AS 2501 26 The firm's approach for substantively testing the issuer's impairment analysis for certain investments was to develop an independent expectation. The following deficiency was identified. • The firm did not evaluate the significant difference between its independent expectation and the issuer's recorded impairment beyond concluding that the issuer's recorded impairment was more conservative. (AS 2501.26; AS 2810.13) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 5 AS 2810 13 The firm's approach for substantively testing the issuer's impairment analysis for certain investments was to develop an independent expectation. The following deficiency was identified. • The firm did not evaluate the significant difference between its independent expectation and the issuer's recorded impairment beyond concluding that the issuer's recorded impairment was more conservative. (AS 2501.26; AS 2810.13) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 6 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure required by FASB ASC Topic 235 Notes to Financial Statements. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its disclosures for investments and determined that a disclosure was omitted. The issuer subsequently corrected this omission in a restatement of its financial statements and the firm issued an audit report on the issuer's restated financial statements. Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 6 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure required by FASB ASC Topic 235 Notes to Financial Statements. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its disclosures for investments and determined that a disclosure was omitted. The issuer subsequently corrected this omission in a restatement of its financial statements and the firm issued an audit report on the issuer's restated financial statements. Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2315 16 The firm's substantive procedures to test revenue included selecting a sample of revenue transactions for testing. The firm's sample was not representative of the population because the firm did not select any transactions for one type of revenue without performing procedures to determine whether all revenue transactions were homogeneous based on their characteristics. (AS 2315.16) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not evaluate whether the issuer's disclosures were in compliance with the requirements of FASB Topic ASC 606 Revenue from Contracts with Customers to disaggregate revenue into categories that depict how the nature amount timing and uncertainty of revenue and cash flows are affected by economic factors. (AS 2301.08 and .13) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm did not evaluate whether the issuer's disclosures were in compliance with the requirements of FASB Topic ASC 606 Revenue from Contracts with Customers to disaggregate revenue into categories that depict how the nature amount timing and uncertainty of revenue and cash flows are affected by economic factors. (AS 2301.08 and .13) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 3 AS 1105 A8b The issuer engaged a specialist to determine the fair value of an equity investment. The firm's approach for substantively testing the fair value of the investment was to test the issuer's process and the firm used an auditor-engaged specialist to evaluate certain significant assumptions the company's specialist used. The following deficiency was identified. • The firm did not evaluate the reasonableness of a certain significant assumption developed by the company's specialist. (AS 1105.A8b) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 4 AS 2301 8 The issuer engaged a specialist to determine the fair value of an equity investment. The firm's approach for substantively testing the fair value of the investment was to test the issuer's process and the firm used an auditor-engaged specialist to evaluate certain significant assumptions the company's specialist used. The following deficiency was identified. • The firm did not evaluate whether this was an investment in a variable interest entity that should have been consolidated by the issuer in accordance with FASB ASC Topic 810 Consolidation. (AS 2301.08 and .11) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 4 AS 2301 11 The issuer engaged a specialist to determine the fair value of an equity investment. The firm's approach for substantively testing the fair value of the investment was to test the issuer's process and the firm used an auditor-engaged specialist to evaluate certain significant assumptions the company's specialist used. The following deficiency was identified. • The firm did not evaluate whether this was an investment in a variable interest entity that should have been consolidated by the issuer in accordance with FASB ASC Topic 810 Consolidation. (AS 2301.08 and .11) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 5 AS 2301 8 The issuer engaged a specialist to determine the fair value of an equity investment. The firm's approach for substantively testing the fair value of the investment was to test the issuer's process and the firm used an auditor-engaged specialist to evaluate certain significant assumptions the company's specialist used. The following deficiency was identified. • The firm did not evaluate whether a certain related asset was properly classified as a current asset in accordance with FASB ASC Topic 210 Balance Sheet. (AS 2301.08 and .11) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 5 AS 2301 11 The issuer engaged a specialist to determine the fair value of an equity investment. The firm's approach for substantively testing the fair value of the investment was to test the issuer's process and the firm used an auditor-engaged specialist to evaluate certain significant assumptions the company's specialist used. The following deficiency was identified. • The firm did not evaluate whether a certain related asset was properly classified as a current asset in accordance with FASB ASC Topic 210 Balance Sheet. (AS 2301.08 and .11) Triennially Inspected 457 Haynie & Company 2025 United States 2025-11-20T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 6 AS 2501 7 The issuer engaged a specialist to determine the fair value of an equity investment. The firm's approach for substantively testing the fair value of the investment was to test the issuer's process and the firm used an auditor-engaged specialist to evaluate certain significant assumptions the company's specialist used. The following deficiency was identified. • The firm did not perform procedures to test the issuer's conclusion that no allowance was necessary for the related asset. (AS 2501.07) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 44 The principal auditor instructed the firm to use and evaluate the quality and effectiveness of the work performed by a third party working under the direction of management as evidence regarding the operating effectiveness of a control related to the review of inventory costing for one of the issuer's components. The firm did not identify that the third party did not evaluate and the firm did not perform procedures to 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 2201.44; AS 2605.24 and .26) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2605 24 The principal auditor instructed the firm to use and evaluate the quality and effectiveness of the work performed by a third party working under the direction of management as evidence regarding the operating effectiveness of a control related to the review of inventory costing for one of the issuer's components. The firm did not identify that the third party did not evaluate and the firm did not perform procedures to 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 2201.44; AS 2605.24 and .26) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2605 26 The principal auditor instructed the firm to use and evaluate the quality and effectiveness of the work performed by a third party working under the direction of management as evidence regarding the operating effectiveness of a control related to the review of inventory costing for one of the issuer's components. The firm did not identify that the third party did not evaluate and the firm did not perform procedures to 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 2201.44; AS 2605.24 and .26) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 44 The principal auditor instructed the firm to test the operating effectiveness of a control related to the review of the reserves for slow-moving and obsolete inventories for three of the issuer's components. The firm 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 2201.44) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 3 AS 2301 8 The principal auditor instructed the firm to test the costing of inventory at one of the issuer's components by comparing inventory costs to vendor invoices payroll records labor hours and machine hours. The firm did not perform these substantive procedures. (AS 2301.08) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Doubtful Accounts 4 AS 2201 44 The principal auditor instructed the firm to use and evaluate the quality and effectiveness of the work performed by a third party working under the direction of management as evidence regarding the operating effectiveness of a control related to the review of the allowance for doubtful accounts for one of the issuer's components. The firm did not identify that the third party did not test and the firm did not perform procedures to test the aspect of the control that addressed the reasonableness of the allowance for doubtful accounts. (AS 2201.44; AS 2605.24 and .26) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Doubtful Accounts 4 AS 2605 24 The principal auditor instructed the firm to use and evaluate the quality and effectiveness of the work performed by a third party working under the direction of management as evidence regarding the operating effectiveness of a control related to the review of the allowance for doubtful accounts for one of the issuer's components. The firm did not identify that the third party did not test and the firm did not perform procedures to test the aspect of the control that addressed the reasonableness of the allowance for doubtful accounts. (AS 2201.44; AS 2605.24 and .26) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A A Yes Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Doubtful Accounts 4 AS 2605 26 The principal auditor instructed the firm to use and evaluate the quality and effectiveness of the work performed by a third party working under the direction of management as evidence regarding the operating effectiveness of a control related to the review of the allowance for doubtful accounts for one of the issuer's components. The firm did not identify that the third party did not test and the firm did not perform procedures to test the aspect of the control that addressed the reasonableness of the allowance for doubtful accounts. (AS 2201.44; AS 2605.24 and .26) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 4 The firm was instructed by the principal auditor to evaluate the reliability of certain external information used by the issuer in its qualitative assessment of impairment of a certain long-lived asset. The firm was unable to evaluate the reliability of this information. Instead the firm compared the information used by the issuer to other information independently obtained by the firm that it believed was comparable to information used by the issuer. The firm however did not perform any procedures to evaluate the reliability of the information it independently obtained. Further the firm did not perform procedures to evaluate the relevance of this information beyond one consideration. (AS 1105.04 and .06) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 6 The firm was instructed by the principal auditor to evaluate the reliability of certain external information used by the issuer in its qualitative assessment of impairment of a certain long-lived asset. The firm was unable to evaluate the reliability of this information. Instead the firm compared the information used by the issuer to other information independently obtained by the firm that it believed was comparable to information used by the issuer. The firm however did not perform any procedures to evaluate the reliability of the information it independently obtained. Further the firm did not perform procedures to evaluate the relevance of this information beyond one consideration. (AS 1105.04 and .06) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Cash and Cash Equivalents 2 AS 2301 8 The firm received a positive confirmation response from a financial institution indicating that one of the cash amounts confirmed was a term deposit with an original maturity greater than three months. The firm did not perform any procedures to evaluate whether the issuer properly presented this amount as cash and cash equivalents in conformity with GAAP. (AS 2301.08) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform any procedures to test certain revenue. (AS 2301.08 and .13) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform any procedures to test certain revenue. (AS 2301.08 and .13) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 2 AS 2310 33 To test accounts receivable and certain other revenue the firm sent positive confirmation requests to the issuer's customers. The firm did not perform procedures beyond inquiry to evaluate the nature of exceptions in one returned confirmation. (AS 2310.33) Triennially Inspected 3305 Forvis Mazars Certified Public Accountants 2025 China 2025-11-20T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Cash and Cash Equivalents 3 AS 2301 8 The firm received positive confirmation responses from financial institutions indicating that certain of the cash amounts confirmed were term deposits with original maturities greater than three months. The firm did not perform any procedures to evaluate whether the issuer properly presented these amounts as cash and cash equivalents in conformity with GAAP. (AS 2301.08) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 1 AS 2201 39 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing a control that consisted of management's review and approval of certain models used by the issuer to estimate the valuation for the collective components. The firm did not (1) identify and test any controls over the accuracy and completeness of certain information used in the performance of the control (AS 2201.39) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 2 AS 2201 42 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing a control that consisted of management's review and approval of certain models used by the issuer to estimate the valuation for the collective components. The firm did not (2) evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the models (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 2 AS 2201 44 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing a control that consisted of management's review and approval of certain models used by the issuer to estimate the valuation for the collective components. The firm did not (2) evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the models (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 3 AS 1105 10 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing a control that consisted of management's review and approval of certain models used by the issuer to estimate the valuation for the collective components. The firm did not (3) perform any procedures to test or test any controls over the completeness of the population of models from which it made its selections to test this control. (AS 1105.10) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 4 AS 2201 39 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not identify and test any controls over certain other models used by the issuer to estimate the valuation for the collective components. (AS 2201.39) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 5 AS 2201 42 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing other controls that consisted of the issuer's (1) review and validation of the methodologies used to develop certain assumptions used by the issuer to estimate the valuation for the collective components and (2) review and approval of the resulting assumptions. The firm 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) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 5 AS 2201 44 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing other controls that consisted of the issuer's (1) review and validation of the methodologies used to develop certain assumptions used by the issuer to estimate the valuation for the collective components and (2) review and approval of the resulting assumptions. The firm 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) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 6 AS 2201 39 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not identify and test any controls over the determination of certain assumptions used by the issuer to estimate the valuations for certain components. (AS 2201.39) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 7 AS 2201 42 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing another control that consisted of the issuer's review of certain other assumptions used by the issuer to estimate the valuations for the components. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the assumptions. (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 7 AS 2201 44 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing another control that consisted of the issuer's review of certain other assumptions used by the issuer to estimate the valuations for the components. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the assumptions. (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 8 AS 2201 39 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not identify and test any control over the determination of an input used by the issuer to estimate the valuation for another component. (AS 2201.39) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 9 AS 2201 39 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing another control that consisted of the issuer's review of another input used by the issuer to estimate the valuation for the component. The firm did not (1) identify and test any controls over the accuracy and completeness of certain data used in the operation of the control (AS 2201.39) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 10 AS 2201 42 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing another control that consisted of the issuer's review of another input used by the issuer to estimate the valuation for the component. The firm did not (2) evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the input. (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 10 AS 2201 44 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing another control that consisted of the issuer's review of another input used by the issuer to estimate the valuation for the component. The firm did not (2) evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the input. (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 11 AS 2201 42 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing another control that consisted of the issuer's review of an element of the component including the reasonableness of the assumptions and methodology used to estimate the valuation for the element. The firm did not evaluate the specific review procedures that the control owner performed to evaluate the reasonableness of the assumptions and methodology used to estimate the valuation for the element. (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 11 AS 2201 44 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm selected for testing another control that consisted of the issuer's review of an element of the component including the reasonableness of the assumptions and methodology used to estimate the valuation for the element. The firm did not evaluate the specific review procedures that the control owner performed to evaluate the reasonableness of the assumptions and methodology used to estimate the valuation for the element. (AS 2201.42 and .44) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 12 AS 2301 16 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The sample sizes the firm used in its substantive procedures to test the reasonableness of certain assumptions used by the issuer to estimate the valuation for a component 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 due to certain of the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 12 AS 2301 18 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The sample sizes the firm used in its substantive procedures to test the reasonableness of certain assumptions used by the issuer to estimate the valuation for a component 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 due to certain of the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 12 AS 2301 37 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The sample sizes the firm used in its substantive procedures to test the reasonableness of certain assumptions used by the issuer to estimate the valuation for a component 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 due to certain of the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 12 AS 2315 19 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The sample sizes the firm used in its substantive procedures to test the reasonableness of certain assumptions used by the issuer to estimate the valuation for a component 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 due to certain of the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 12 AS 2315 23 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The sample sizes the firm used in its substantive procedures to test the reasonableness of certain assumptions used by the issuer to estimate the valuation for a component 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 due to certain of the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 12 AS 2315 23A The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The sample sizes the firm used in its substantive procedures to test the reasonableness of certain assumptions used by the issuer to estimate the valuation for a component 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 due to certain of the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 13 AS 2315 24 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm's approach for testing the valuation for the component was to limit its substantive testing to certain balances over a specified threshold. The firm did not perform any procedures to substantively test the balances below the threshold. (AS 2315.24) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 14 AS 2301 8 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the reasonableness of certain assumptions used by the issuer to estimate the valuation for the component because it did not evaluate certain exceptions identified while testing the assumptions. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 14 AS 2301 11 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the reasonableness of certain assumptions used by the issuer to estimate the valuation for the component because it did not evaluate certain exceptions identified while testing the assumptions. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 14 AS 2810 3 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the reasonableness of certain assumptions used by the issuer to estimate the valuation for the component because it did not evaluate certain exceptions identified while testing the assumptions. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Significant Risk 15 AS 2301 8 The significant estimate consisted of multiple components that were valued by the issuer using various inputs assumptions models and methodologies. With respect to the components of the significant estimate the following deficiency was identified: • The firm did not perform procedures to evaluate whether the issuer's presentation and disclosure and valuation for a component was in conformity with the relevant financial reporting framework. (AS 2301.08) Triennially Inspected 6466 PwC Contadores y Auditores SAS 2024 Colombia PricewaterhouseCoopers International Limited 2025-11-20T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Financial Instruments 16 AS 2301 8 The firm did not perform any substantive procedures to test the completeness of certain financial instruments. (AS 2301.08) Triennially Inspected 1350 PricewaterhouseCoopers Reviseurs d'Entreprises 2024 Belgium PricewaterhouseCoopers International Limited 2025-11-10T00:00:00 Part I.A A Yes ICFR audit only Audits with multiple deficiencies Journal Entries Fraud Risk 1 AS 2201 42 The firm was instructed by the principal auditor to test two controls over manual journal entries that consisted of the issuer's review and approval of the journal entries. The firm did not sufficiently test the design and operating effectiveness of these controls because it did not test certain attributes of the controls related to (1) an additional review of journal entries created or posted by the controller and (2) the attachment of supporting documentation to all journal entry vouchers to facilitate the control owner's review of the journal entries. (AS 2201.42 and .44) Triennially Inspected 1350 PricewaterhouseCoopers Reviseurs d'Entreprises 2024 Belgium PricewaterhouseCoopers International Limited 2025-11-10T00:00:00 Part I.A A Yes ICFR audit only Audits with multiple deficiencies Journal Entries Fraud Risk 1 AS 2201 44 The firm was instructed by the principal auditor to test two controls over manual journal entries that consisted of the issuer's review and approval of the journal entries. The firm did not sufficiently test the design and operating effectiveness of these controls because it did not test certain attributes of the controls related to (1) an additional review of journal entries created or posted by the controller and (2) the attachment of supporting documentation to all journal entry vouchers to facilitate the control owner's review of the journal entries. (AS 2201.42 and .44) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed Long-Lived Assets but did not identify the deficiency below. The issuer engaged external specialists to review and compile technical reports on its mineral reserves and resources (“reserve estimates”) and develop a life-of-mine (LOM) plan for each mining site which were then used in the (1) calculation of depreciation and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions prepared by the issuer and/or obtained from external sources to develop the reserve estimates and LOM plans. The firm selected for testing certain controls over long-lived assets that consisted of the issuer's reviews of (1) fixed asset register reconciliations (2) asset status reports and (3) the LOM plans and technical reports developed/compiled by the company's specialists. The firm 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 2201.44) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 1105 A8a The firm's internal inspection program had inspected this audit and reviewed Long-Lived Assets but did not identify the deficiency below. The issuer engaged external specialists to review and compile technical reports on its mineral reserves and resources (“reserve estimates”) and develop a life-of-mine (LOM) plan for each mining site which were then used in the (1) calculation of depreciation and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions prepared by the issuer and/or obtained from external sources to develop the reserve estimates and LOM plans. The firm's approach for substantively testing long-lived assets associated with the issuer's reserve estimates and LOM plans as developed by the company's specialists was to test the issuer's process. The following deficiency was identified: • The firm did not (1) test the accuracy and completeness of non-financial data prepared by the issuer and (2) evaluate the relevance and reliability of external non-financial data all of which were used by the company's specialist to develop the LOM plan assumptions which were used to compute depreciation expense. (AS 1105.A8a) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 3 AS 1105 A8b The firm's internal inspection program had inspected this audit and reviewed Long-Lived Assets but did not identify the deficiency below. The issuer engaged external specialists to review and compile technical reports on its mineral reserves and resources (“reserve estimates”) and develop a life-of-mine (LOM) plan for each mining site which were then used in the (1) calculation of depreciation and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions prepared by the issuer and/or obtained from external sources to develop the reserve estimates and LOM plans. The firm's approach for substantively testing long-lived assets associated with the issuer's reserve estimates and LOM plans as developed by the company's specialists was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the LOM plans which were considered significant assumptions by the firm developed by the company's specialists and used to compute depreciation expense. (AS 1105.A8b) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 4 AS 2501 16 The firm's internal inspection program had inspected this audit and reviewed Long-Lived Assets but did not identify the deficiency below. The issuer engaged external specialists to review and compile technical reports on its mineral reserves and resources (“reserve estimates”) and develop a life-of-mine (LOM) plan for each mining site which were then used in the (1) calculation of depreciation and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions prepared by the issuer and/or obtained from external sources to develop the reserve estimates and LOM plans. The firm's approach for substantively testing long-lived assets associated with the issuer's reserve estimates and LOM plans as developed by the company's specialists was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of another significant non-financial assumption developed by the issuer and used by the company's specialists to develop the reserve estimates beyond evaluating its consistency with the issuer's budget. (AS 2501.16) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 5 AS 1105 A8c The firm's internal inspection program had inspected this audit and reviewed Long-Lived Assets but did not identify the deficiency below. The issuer engaged external specialists to review and compile technical reports on its mineral reserves and resources (“reserve estimates”) and develop a life-of-mine (LOM) plan for each mining site which were then used in the (1) calculation of depreciation and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions prepared by the issuer and/or obtained from external sources to develop the reserve estimates and LOM plans. The firm's approach for substantively testing long-lived assets associated with the issuer's reserve estimates and LOM plans as developed by the company's specialists was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate whether the methods used by the company's specialists to develop the reserve estimates and LOM plans were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework. (AS 1105.A8c) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 6 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed Long-Lived Assets but did not identify the deficiency below. The issuer engaged external specialists to review and compile technical reports on its mineral reserves and resources (“reserve estimates”) and develop a life-of-mine (LOM) plan for each mining site which were then used in the (1) calculation of depreciation and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions prepared by the issuer and/or obtained from external sources to develop the reserve estimates and LOM plans. The firm's approach for substantively testing long-lived assets associated with the issuer's reserve estimates and LOM plans as developed by the company's specialists was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to test the accuracy of the dates in which long-lived assets were placed in service and the locations of those assets which were inputs used to compute depreciation expense. (AS 2301.08) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cash and Cash Equivalents 7 AS 2310 26 The firm sent confirmation requests via email to contacts at financial institutions for certain of the issuer's bank accounts as part of its substantive testing of cash and cash equivalents and the email address for each contact was provided by the issuer. The firm received the responses for all confirmation requests sent via email. The following deficiency was identified: • The firm did not perform procedures to determine whether the confirmation requests were directed to third parties who were knowledgeable about the information to be confirmed. (AS 2310.26) Triennially Inspected 1368 BDO South Africa Inc. 2024 South Africa BDO International Limited 2025-11-10T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cash and Cash Equivalents 8 AS 2310 29 The firm sent confirmation requests via email to contacts at financial institutions for certain of the issuer's bank accounts as part of its substantive testing of cash and cash equivalents and the email address for each contact was provided by the issuer. The firm received the responses for all confirmation requests sent via email. The following deficiency was identified: • The firm did not consider performing procedures to address the risks associated with electronic responses such as verifying the source and contents of the confirmation responses. (AS 2310.29) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A1 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A10 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A2 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A3 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A4 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A5 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A6 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A7 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A8 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 1105 A9 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 1 AS 2501 16 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain of these significant assumptions developed by one of the company's specialists beyond reading the company's specialist's valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform any procedures beyond inquiring of management with respect to its use of this company's specialist's work as audit evidence. (AS 1105.A1 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 2 AS 1105 A10 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain other significant assumptions developed by two of the company's specialists beyond reading and comparing the two company's specialists' valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform procedures to evaluate the work of the company's specialists beyond inquiries of the company's specialists and certain comparisons to issuer documentation. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 2 AS 1105 A6 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain other significant assumptions developed by two of the company's specialists beyond reading and comparing the two company's specialists' valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform procedures to evaluate the work of the company's specialists beyond inquiries of the company's specialists and certain comparisons to issuer documentation. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 2 AS 1105 A7 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain other significant assumptions developed by two of the company's specialists beyond reading and comparing the two company's specialists' valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform procedures to evaluate the work of the company's specialists beyond inquiries of the company's specialists and certain comparisons to issuer documentation. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 2 AS 1105 A8 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain other significant assumptions developed by two of the company's specialists beyond reading and comparing the two company's specialists' valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform procedures to evaluate the work of the company's specialists beyond inquiries of the company's specialists and certain comparisons to issuer documentation. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 2 AS 1105 A9 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain other significant assumptions developed by two of the company's specialists beyond reading and comparing the two company's specialists' valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform procedures to evaluate the work of the company's specialists beyond inquiries of the company's specialists and certain comparisons to issuer documentation. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 2 AS 2501 16 The issuer recorded an investment at fair value that was determined in part based on assumptions that were developed by the company's specialists. The firm's approach for testing the fair value of the investment was to develop an independent expectation of the estimate using certain significant assumptions that were developed by the company's specialists. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain other significant assumptions developed by two of the company's specialists beyond reading and comparing the two company's specialists' valuation reports inspecting certain contracts and inquiring of management. Further the firm did not perform procedures to evaluate the work of the company's specialists beyond inquiries of the company's specialists and certain comparisons to issuer documentation. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 3 AS 2301 8 The firm did not sufficiently evaluate whether the issuer's accounting for this investment was appropriate because the firm did not determine how the issuer evaluated all relevant factors including certain contrary evidence related to one of the factors. (AS 2301.08; AS 2810.03) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Significant Risk 3 AS 2810 3 The firm did not sufficiently evaluate whether the issuer's accounting for this investment was appropriate because the firm did not determine how the issuer evaluated all relevant factors including certain contrary evidence related to one of the factors. (AS 2301.08; AS 2810.03) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Fraud Risk 1 AS 1105 4 During the year the issuer acquired a business and determined the fair value of certain acquired intangible assets using forecasted revenue which the firm identified as a significant assumption. The firm did not evaluate the reliability of certain historical revenue data from the acquiree that was used to develop these revenue forecasts. (AS 1105.04 and .06) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Fraud Risk 1 AS 1105 6 During the year the issuer acquired a business and determined the fair value of certain acquired intangible assets using forecasted revenue which the firm identified as a significant assumption. The firm did not evaluate the reliability of certain historical revenue data from the acquiree that was used to develop these revenue forecasts. (AS 1105.04 and .06) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Fraud Risk 2 AS 2301 8 The firm did not perform procedures beyond inquiry to evaluate the issuer's conclusions that quantitative impairment assessments for certain goodwill and intangible assets were not necessary including how the issuer evaluated certain relevant events or changes in circumstances of which the firm was aware that indicated that these assets may not be recoverable. (AS 2301.08; AS 2810.03) Triennially Inspected 6413 ZH CPA, LLC 2025 United States 2025-11-10T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Fraud Risk 2 AS 2810 3 The firm did not perform procedures beyond inquiry to evaluate the issuer's conclusions that quantitative impairment assessments for certain goodwill and intangible assets were not necessary including how the issuer evaluated certain relevant events or changes in circumstances of which the firm was aware that indicated that these assets may not be recoverable. (AS 2301.08; AS 2810.03) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 46 The issuer used an information-technology (IT) system to calculate the ACL. The firm selected for testing an IT-dependent management review control over the valuation of the ACL that was dependent upon (1) the effectiveness of IT general controls (ITGCs) over this system and (2) the accuracy and completeness of reports generated from this system used in the operation of the control. As a result of the deficiencies the firm's testing of this IT-dependent manual control was not sufficient. (AS 2201.46) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 42 The issuer used an information-technology (IT) system to calculate the ACL. The firm selected for testing an IT-dependent management review control over the valuation of the ACL that was dependent upon (1) the effectiveness of IT general controls (ITGCs) over this system and (2) the accuracy and completeness of reports generated from this system used in the operation of the control. · The firm selected for testing a review control over user access. The firm did not evaluate the specific procedures that the control owners performed to determine whether the granted access continued to be appropriate. (AS 2201.42 and .44) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 44 The issuer used an information-technology (IT) system to calculate the ACL. The firm selected for testing an IT-dependent management review control over the valuation of the ACL that was dependent upon (1) the effectiveness of IT general controls (ITGCs) over this system and (2) the accuracy and completeness of reports generated from this system used in the operation of the control. · The firm selected for testing a review control over user access. The firm did not evaluate the specific procedures that the control owners performed to determine whether the granted access continued to be appropriate. (AS 2201.42 and .44) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 1105 10 The issuer used an information-technology (IT) system to calculate the ACL. The firm selected for testing an IT-dependent management review control over the valuation of the ACL that was dependent upon (1) the effectiveness of IT general controls (ITGCs) over this system and (2) the accuracy and completeness of reports generated from this system used in the operation of the control. · The firm selected for testing a change management control. The firm did not test or test any controls over the completeness of the change management population used by the firm to select items for testing the change management control. (AS 1105.10) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 4 AS 2201 39 The issuer used an information-technology (IT) system to calculate the ACL. The firm selected for testing an IT-dependent management review control over the valuation of the ACL that was dependent upon (1) the effectiveness of IT general controls (ITGCs) over this system and (2) the accuracy and completeness of reports generated from this system used in the operation of the control. · The firm did not identify and test any controls over the accuracy and completeness of the reports generated from this IT system used in the performance of the control. (AS 2201.39) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 1105 A10 The issuer engaged a specialist to appraise the value of land that collateralized certain of the issuer's loans. The issuer applied adjustments for project percentage of completion and selling cost estimates to the appraised land value to determine the specific reserve to apply to these loans. The firm did not perform substantive procedures to test the aggregate appraisal value of the land securing the loans beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 1105 A6 The issuer engaged a specialist to appraise the value of land that collateralized certain of the issuer's loans. The issuer applied adjustments for project percentage of completion and selling cost estimates to the appraised land value to determine the specific reserve to apply to these loans. The firm did not perform substantive procedures to test the aggregate appraisal value of the land securing the loans beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 1105 A7 The issuer engaged a specialist to appraise the value of land that collateralized certain of the issuer's loans. The issuer applied adjustments for project percentage of completion and selling cost estimates to the appraised land value to determine the specific reserve to apply to these loans. The firm did not perform substantive procedures to test the aggregate appraisal value of the land securing the loans beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 1105 A8 The issuer engaged a specialist to appraise the value of land that collateralized certain of the issuer's loans. The issuer applied adjustments for project percentage of completion and selling cost estimates to the appraised land value to determine the specific reserve to apply to these loans. The firm did not perform substantive procedures to test the aggregate appraisal value of the land securing the loans beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 1105 A9 The issuer engaged a specialist to appraise the value of land that collateralized certain of the issuer's loans. The issuer applied adjustments for project percentage of completion and selling cost estimates to the appraised land value to determine the specific reserve to apply to these loans. The firm did not perform substantive procedures to test the aggregate appraisal value of the land securing the loans beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2501 16 The issuer engaged a specialist to appraise the value of land that collateralized certain of the issuer's loans. The issuer applied adjustments for project percentage of completion and selling cost estimates to the appraised land value to determine the specific reserve to apply to these loans. The firm did not perform substantive procedures to test the aggregate appraisal value of the land securing the loans beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 171 Horne LLP 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses 2 AS 2501 16 The issuer engaged a specialist to appraise the value of land that collateralized certain of the issuer's loans. The issuer applied adjustments for project percentage of completion and selling cost estimates to the appraised land value to determine the specific reserve to apply to these loans. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions related to the estimates for percentages of completion for the construction projects and selling cost adjustments. (AS 2501.16) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 1 AS 2301 8 The firm did not perform procedures to test one significant account beyond tracing amounts to the general ledger. (AS 2301.08 and .13) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 1 AS 2301 13 The firm did not perform procedures to test one significant account beyond tracing amounts to the general ledger. (AS 2301.08 and .13) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 2 AS 2301 8 The firm did not evaluate whether the issuer's accounting for a second significant account was in conformity with applicable GAAP. (AS 2301.08 and .13) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 2 AS 2301 13 The firm did not evaluate whether the issuer's accounting for a second significant account was in conformity with applicable GAAP. (AS 2301.08 and .13) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 3 AS 2315 16 The firm selected samples to test certain other significant accounts. The sample sizes the firm used to perform these substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample sizes including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 3 AS 2315 19 The firm selected samples to test certain other significant accounts. The sample sizes the firm used to perform these substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample sizes including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 3 AS 2315 23 The firm selected samples to test certain other significant accounts. The sample sizes the firm used to perform these substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample sizes including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts Fraud Risk 3 AS 2315 23A The firm selected samples to test certain other significant accounts. The sample sizes the firm used to perform these substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample sizes including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Balance Sheet Account 4 AS 2301 8 The firm did not perform any procedures to test certain changes in a balance sheet account. (AS 2301.08) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Balance Sheet Account 5 AS 2301 8 The firm did not evaluate whether the issuer appropriately determined the valuation of this account including consideration of contradictory evidence. (AS 2301.08; AS 2810.03) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Balance Sheet Account 5 AS 2810 3 The firm did not evaluate whether the issuer appropriately determined the valuation of this account including consideration of contradictory evidence. (AS 2301.08; AS 2810.03) Triennially Inspected 217 Berkower LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Financial Reporting 6 AS 2301 8 The firm did not evaluate whether certain adjustments were in conformity with applicable GAAP. (AS 2301.08) Triennially Inspected 263 Rehmann Robson LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Investment Securities 1 AS 1105 27 The firm selected an investment security for testing the fair value of certain investment securities. The firm did not perform any procedures to test the fair value of the remaining population of these investment securities. (AS 1105.27; AS 2501.07) Triennially Inspected 263 Rehmann Robson LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Investment Securities 1 AS 2501 7 The firm selected an investment security for testing the fair value of certain investment securities. The firm did not perform any procedures to test the fair value of the remaining population of these investment securities. (AS 1105.27; AS 2501.07) Triennially Inspected 281 Nichols, Cauley & Associates, LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 1105 10 The firm did not perform procedures to test or in the alternative test any controls over the accuracy and completeness of certain issuer-produced reports that it used to substantively test certain revenue. (AS 1105.10) Triennially Inspected 910 Rodefer Moss & Co, PLLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether the issuer's recognition of certain revenue was in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers because the firm did not evaluate certain requirements of FASB ASC Topic 606. (AS 2301.08) Triennially Inspected 910 Rodefer Moss & Co, PLLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures related to this revenue as required by FASB ASC Topic 606. (AS 2810.30 and .31) Triennially Inspected 910 Rodefer Moss & Co, PLLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures related to this revenue as required by FASB ASC Topic 606. (AS 2810.30 and .31) Triennially Inspected 910 Rodefer Moss & Co, PLLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Estimate 3 AS 2501 7 The firm did not perform procedures to test a significant estimate beyond inquiry including consideration of certain contrary evidence. (AS 2501.07; AS 2810.03) Triennially Inspected 910 Rodefer Moss & Co, PLLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Estimate 3 AS 2810 3 The firm did not perform procedures to test a significant estimate beyond inquiry including consideration of certain contrary evidence. (AS 2501.07; AS 2810.03) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 1 AS 2201 68 The firm selected for testing a control that consisted of the issuer's review of customer contracts for proper revenue recognition and identified a significant deficiency related to this control. The firm identified and tested a compensating control that it believed would mitigate the deficiency which consisted of another review control over customer contracts. The firm did not evaluate the review procedures that the control owner performed to be able to conclude that the compensating control mitigated the identified significant deficiency. (AS 2201.68) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 2301 16 The sample sizes the firm used in certain of its substantive procedures to test revenue were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19. 23 and .23A) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 2301 18 The sample sizes the firm used in certain of its substantive procedures to test revenue were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19. 23 and .23A) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 2301 37 The sample sizes the firm used in certain of its substantive procedures to test revenue were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19. 23 and .23A) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 2315 19 The sample sizes the firm used in certain of its substantive procedures to test revenue were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19. 23 and .23A) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 2315 23 The sample sizes the firm used in certain of its substantive procedures to test revenue were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19. 23 and .23A) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 2315 23A The sample sizes the firm used in certain of its substantive procedures to test revenue were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19. 23 and .23A) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Revenue 1 AS 1105 4 The firm did not perform any procedures to evaluate the reliability of certain information used in its substantive testing of revenue. (AS 1105.04 and .06) Triennially Inspected 2416 Grant Thornton Bharat LLP 2025 India Grant Thornton International Limited 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Revenue 1 AS 1105 6 The firm did not perform any procedures to evaluate the reliability of certain information used in its substantive testing of revenue. (AS 1105.04 and .06) Triennially Inspected 2952 T R CHADHA & CO LLP 2025 India 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2301 8 The firm selected a sample of transactions to test certain revenue. The firm did not perform procedures to test whether the issuer satisfied its performance obligations prior to the recognition of this revenue for the sample of transactions beyond inspecting certain issuer-prepared reports and customer invoices. (AS 2301.08 and .13) Triennially Inspected 2952 T R CHADHA & CO LLP 2025 India 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2301 13 The firm selected a sample of transactions to test certain revenue. The firm did not perform procedures to test whether the issuer satisfied its performance obligations prior to the recognition of this revenue for the sample of transactions beyond inspecting certain issuer-prepared reports and customer invoices. (AS 2301.08 and .13) Triennially Inspected 5020 RW Group LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 1 AS 2501 22 The firm's approach for substantively testing the reserve for excess and obsolete inventory was to develop an independent expectation. The firm did not perform any procedures to demonstrate it had a reasonable basis for certain assumptions it developed. (AS 2501.22) Triennially Inspected 5020 RW Group LLC 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 61 The firm did not select any journal entries and other adjustments for testing. (AS 2401.61) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 1 AS 2501 10 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not identify and evaluate a departure from GAAP related to the method used by the issuer to estimate the value of the significant account which was not in conformity with the applicable financial reporting framework. (AS 2501.10; AS 2810.30 and .31) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 1 AS 2810 30 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not identify and evaluate a departure from GAAP related to the method used by the issuer to estimate the value of the significant account which was not in conformity with the applicable financial reporting framework. (AS 2501.10; AS 2810.30 and .31) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 1 AS 2810 31 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not identify and evaluate a departure from GAAP related to the method used by the issuer to estimate the value of the significant account which was not in conformity with the applicable financial reporting framework. (AS 2501.10; AS 2810.30 and .31) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 2 AS 2501 16 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions. (AS 2501.16) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 3 AS 2501 16 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions because it did not evaluate significant differences between its expectations and the assumptions. Further for one significant assumption the firm did not demonstrate it had a reasonable basis for its expectation of the assumption. (AS 2501.16) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 4 AS 2501 16 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of another significant assumption including taking into account the issuer's intent and ability to carry out the assumption. (AS 2501.16 and .17) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 4 AS 2501 17 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of another significant assumption including taking into account the issuer's intent and ability to carry out the assumption. (AS 2501.16 and .17) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 5 AS 1105 4 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the relevance and/or reliability of certain external data and information used in its substantive testing of the significant assumptions. (AS 1105.04 and .06) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 5 AS 1105 6 The issuer used various assumptions to estimate the value of a significant account. The firm's approach for substantively testing the value of this account was to test the issuer's process and develop expectations of certain significant assumptions which it compared to the respective assumptions used by the issuer. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the relevance and/or reliability of certain external data and information used in its substantive testing of the significant assumptions. (AS 1105.04 and .06) Triennially Inspected 6398 RH CPA 2025 United States 2025-10-23T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Related Party transactions 1 AS 2310 28 The firm used a positive confirmation request to test a related party transaction. The firm did not maintain control over the confirmation request and response through direct communication with the intended recipient of the confirmation request because the issuer sent and received the request. (AS 2310.28) [This citation refers to AS 2310 The Confirmation Process which was in effect for this audit. This standard was replaced by AS 2310 The Auditor's Use of Confirmation which became effective for audits of financial statements for fiscal years ending on or after June 15 2025.] Triennially Inspected 200 Haskell & White LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and related accounts. In its testing of controls over revenue and related accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the audit deficiencies related to the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46). Triennially Inspected 200 Haskell & White LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 2 AS 2201 62 The firm identified control deficiencies related to change management for one of the issuer's IT systems. The firm did not evaluate the severity of these control deficiencies individually or in combination to determine whether they represented a material weakness beyond identifying a mitigating factor that did not address the risk that changes could be migrated into production without appropriate approval and testing. (AS 2201.62) Triennially Inspected 200 Haskell & White LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 3 AS 1105 10 The firm used certain system change reports to select its samples for testing certain ITGCs for these systems but did not test or test any controls over the completeness of these reports. (AS 1105.10) Triennially Inspected 200 Haskell & White LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 4 AS 2315 44 The firm designed certain of its substantive procedures to test certain revenue as dual-purpose tests. The firm performed its substantive procedures using the sample size it determined for its control testing. This sample size was too small to provide sufficient appropriate audit evidence for the substantive procedure because the firm did not use the larger of the sample sizes that would otherwise have been designed for the two separate purposes. (AS 2315.44) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 1 AS 2201 39 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm selected for testing a control that consisted of the issuer's review of the financial and non-financial assumptions including the reserves and resources estimates reflected in the technical report that were used by the issuer to estimate the fair value of the acquired asset and assumed liability. This control used the remodeled reserves and resources estimates developed by the company's employed specialists. The following deficiency was identified: • The firm did not identify and test any controls over the accuracy and completeness of the reserves and resources estimates remodeled by the company's employed specialists that were used in the operation of this control including the (1) accuracy and completeness of issuer-produced non-financial data and (2) relevance and reliability of external data all of which were utilized by the company's employed specialists to remodel the reserves and resources estimates. (AS 2201.39) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 2 AS 2201 42 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm selected for testing a control that consisted of the issuer's review of the financial and non-financial assumptions including the reserves and resources estimates reflected in the technical report that were used by the issuer to estimate the fair value of the acquired asset and assumed liability. This control used the remodeled reserves and resources estimates developed by the company's employed specialists. The following deficiency was identified: • The firm did not identify that the control owners did not (1) evaluate the reasonableness of the financial and non-financial assumptions developed by the issuer and/or the company's employed specialists and used by the company's employed specialists to remodel the reserves and resources estimates and (2) evaluate the appropriateness of the methods used by company's employed specialists to remodel the reserves and resources estimates. (AS 2201.42 and .44) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 2 AS 2201 44 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm selected for testing a control that consisted of the issuer's review of the financial and non-financial assumptions including the reserves and resources estimates reflected in the technical report that were used by the issuer to estimate the fair value of the acquired asset and assumed liability. This control used the remodeled reserves and resources estimates developed by the company's employed specialists. The following deficiency was identified: • The firm did not identify that the control owners did not (1) evaluate the reasonableness of the financial and non-financial assumptions developed by the issuer and/or the company's employed specialists and used by the company's employed specialists to remodel the reserves and resources estimates and (2) evaluate the appropriateness of the methods used by company's employed specialists to remodel the reserves and resources estimates. (AS 2201.42 and .44) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 3 AS 1105 A10 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm's approach for substantively testing the fair value of the acquired asset and assumed liability from the business combination was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the reserves and resources estimates as reflected in the technical report which were considered by the firm to be significant assumptions used by the issuer to estimate the fair value of the acquired asset and assumed liability beyond obtaining and reading the technical report prepared by the acquired company's external specialists. Further the firm did not perform procedures to evaluate the work of the company's employed specialists. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 3 AS 1105 A6 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm's approach for substantively testing the fair value of the acquired asset and assumed liability from the business combination was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the reserves and resources estimates as reflected in the technical report which were considered by the firm to be significant assumptions used by the issuer to estimate the fair value of the acquired asset and assumed liability beyond obtaining and reading the technical report prepared by the acquired company's external specialists. Further the firm did not perform procedures to evaluate the work of the company's employed specialists. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 3 AS 1105 A7 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm's approach for substantively testing the fair value of the acquired asset and assumed liability from the business combination was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the reserves and resources estimates as reflected in the technical report which were considered by the firm to be significant assumptions used by the issuer to estimate the fair value of the acquired asset and assumed liability beyond obtaining and reading the technical report prepared by the acquired company's external specialists. Further the firm did not perform procedures to evaluate the work of the company's employed specialists. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 3 AS 1105 A8 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm's approach for substantively testing the fair value of the acquired asset and assumed liability from the business combination was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the reserves and resources estimates as reflected in the technical report which were considered by the firm to be significant assumptions used by the issuer to estimate the fair value of the acquired asset and assumed liability beyond obtaining and reading the technical report prepared by the acquired company's external specialists. Further the firm did not perform procedures to evaluate the work of the company's employed specialists. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 3 AS 1105 A9 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm's approach for substantively testing the fair value of the acquired asset and assumed liability from the business combination was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the reserves and resources estimates as reflected in the technical report which were considered by the firm to be significant assumptions used by the issuer to estimate the fair value of the acquired asset and assumed liability beyond obtaining and reading the technical report prepared by the acquired company's external specialists. Further the firm did not perform procedures to evaluate the work of the company's employed specialists. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 3 AS 2501 16 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm's approach for substantively testing the fair value of the acquired asset and assumed liability from the business combination was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the reserves and resources estimates as reflected in the technical report which were considered by the firm to be significant assumptions used by the issuer to estimate the fair value of the acquired asset and assumed liability beyond obtaining and reading the technical report prepared by the acquired company's external specialists. Further the firm did not perform procedures to evaluate the work of the company's employed specialists. (AS 1105.A6 -.A10; AS 2501.16) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations 4 AS 2501 16 During the year the issuer completed a business combination and used various significant assumptions including reserves and resources estimates from a report (“technical report”) prepared by external specialists engaged by the acquired company to estimate and record the fair value of an acquired asset and assumed liability. The issuer utilized internal specialists (the “company's employed specialists”) to assess the reasonableness of the reserves and resources estimates reflected in the technical report by remodeling the estimates and comparing the results to the estimates reflected in the technical report. The firm's approach for substantively testing the fair value of the acquired asset and assumed liability from the business combination was to test the issuer's process. The following deficiency was identified: • The firm did not sufficiently evaluate the reasonableness of certain other significant assumptions used by the issuer to estimate the fair value of the acquired asset because it limited its procedures to comparing the assumptions to those of similar companies or external vendor quotes. (AS 2501.16) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 42 The issuer engaged specialists to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions deemed significant by the firm to develop the reserve estimates in the reserve report. The firm selected for testing a control that consisted of the issuer's review and approval of the final reserve estimates provided by the company's specialists. The firm did not identify when testing the design of this control that the control owners did not (1) evaluate the reasonableness of the non-financial assumptions developed by the issuer and/or the company's specialists and used by the company's specialists to develop the reserve estimates and (2) evaluate the appropriateness of the methods used by company's specialists to develop the reserve estimates. (AS 2201.42) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 1105 A8b The issuer engaged specialists to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions deemed significant by the firm to develop the reserve estimates in the reserve report. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the significant non-financial assumptions developed by the issuer and/or the company's specialists and used by the company's specialists to develop the reserve estimates. (AS 1105.A8b; AS 2501.16) • The firm did not evaluate whether the methods used by the company's specialists to develop the reserve estimates were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework beyond inquiry of the methods used with the company's specialists. (AS 1105.A8c) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 2501 16 The issuer engaged specialists to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions deemed significant by the firm to develop the reserve estimates in the reserve report. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the significant non-financial assumptions developed by the issuer and/or the company's specialists and used by the company's specialists to develop the reserve estimates. (AS 1105.A8b; AS 2501.16) • The firm did not evaluate whether the methods used by the company's specialists to develop the reserve estimates were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework beyond inquiry of the methods used with the company's specialists. (AS 1105.A8c) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 3 AS 1105 A8c The issuer engaged specialists to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The company's specialists used financial and non-financial data and assumptions deemed significant by the firm to develop the reserve estimates in the reserve report. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The following deficiency was identified: • The firm did not evaluate the reasonableness of the significant non-financial assumptions developed by the issuer and/or the company's specialists and used by the company's specialists to develop the reserve estimates. (AS 1105.A8b; AS 2501.16) • The firm did not evaluate whether the methods used by the company's specialists to develop the reserve estimates were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework beyond inquiry of the methods used with the company's specialists. (AS 1105.A8c) Triennially Inspected 271 PricewaterhouseCoopers LLP 2024 Canada PricewaterhouseCoopers International Limited 2025-09-25T00:00:00 Part I.A C Yes Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 1105 10 The firm selected for testing a control over revenue recognition that consisted of the issuer's review of customer contracts. The firm did not perform procedures to test or test any controls over the completeness of an issuer-prepared report of new and modified contracts from which it made its selections for testing. (AS 1105.10) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 39 The issuer recognized revenue from multiple revenue streams. The following deficiency was identified: • The firm selected for testing a control over the disclosure of certain revenue that consisted of the issuer's review and approval of its financial statement disclosures. The firm did not identify and test any controls over the accuracy of certain data used in the operation of this control. (AS 2201.39) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 1105 10 The issuer recognized revenue from multiple revenue streams. The following deficiency was identified: • The firm used certain issuer-prepared data to substantively test one of the issuer's revenue disclosures but did not perform any procedures to test or test any controls over the accuracy of this data. (AS 1105.10) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 3 AS 2201 42 The issuer engaged an external specialist to assist in performing its annual impairment analysis for certain goodwill and intangible assets with indefinite lives. The issuer with the assistance of the company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the valuation models used in the impairment analysis. Certain of these assumptions were developed using data derived from comparable companies. The company's specialist also prepared a sensitivity analysis using certain assumptions based on the statistical data points of the assumptions. The firm's approach for testing the goodwill and indefinite lived intangible assets for impairment was to test the issuer's process and the firm used an auditor-employed specialist to assist it with testing the valuation models used by the issuer. The following deficiency was identified: • The firm selected for testing a control over the valuation of the goodwill and indefinite lived intangible assets that consisted of the issuer's review of key assumptions used in the valuation models. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of certain assumptions used in the valuation models including the relevance of the comparable companies used to develop those assumptions. (AS 2201.42 and .44) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 3 AS 2201 44 The issuer engaged an external specialist to assist in performing its annual impairment analysis for certain goodwill and intangible assets with indefinite lives. The issuer with the assistance of the company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the valuation models used in the impairment analysis. Certain of these assumptions were developed using data derived from comparable companies. The company's specialist also prepared a sensitivity analysis using certain assumptions based on the statistical data points of the assumptions. The firm's approach for testing the goodwill and indefinite lived intangible assets for impairment was to test the issuer's process and the firm used an auditor-employed specialist to assist it with testing the valuation models used by the issuer. The following deficiency was identified: • The firm selected for testing a control over the valuation of the goodwill and indefinite lived intangible assets that consisted of the issuer's review of key assumptions used in the valuation models. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of certain assumptions used in the valuation models including the relevance of the comparable companies used to develop those assumptions. (AS 2201.42 and .44) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 4 AS 1201 C6 The issuer engaged an external specialist to assist in performing its annual impairment analysis for certain goodwill and intangible assets with indefinite lives. The issuer with the assistance of the company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the valuation models used in the impairment analysis. Certain of these assumptions were developed using data derived from comparable companies. The company's specialist also prepared a sensitivity analysis using certain assumptions based on the statistical data points of the assumptions. The firm's approach for testing the goodwill and indefinite lived intangible assets for impairment was to test the issuer's process and the firm used an auditor-employed specialist to assist it with testing the valuation models used by the issuer. The following deficiency was identified: • The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding whether the goodwill and indefinite lived intangible assets were impaired because the auditor-employed specialist did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions used in the valuation models including the relevance of the comparable companies used to develop certain of those assumptions. (AS 1201.C6 and .C7) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 4 AS 1201 C7 The issuer engaged an external specialist to assist in performing its annual impairment analysis for certain goodwill and intangible assets with indefinite lives. The issuer with the assistance of the company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the valuation models used in the impairment analysis. Certain of these assumptions were developed using data derived from comparable companies. The company's specialist also prepared a sensitivity analysis using certain assumptions based on the statistical data points of the assumptions. The firm's approach for testing the goodwill and indefinite lived intangible assets for impairment was to test the issuer's process and the firm used an auditor-employed specialist to assist it with testing the valuation models used by the issuer. The following deficiency was identified: • The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding whether the goodwill and indefinite lived intangible assets were impaired because the auditor-employed specialist did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions used in the valuation models including the relevance of the comparable companies used to develop certain of those assumptions. (AS 1201.C6 and .C7) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 5 AS 2501 16 The issuer engaged an external specialist to assist in performing its annual impairment analysis for certain goodwill and intangible assets with indefinite lives. The issuer with the assistance of the company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the valuation models used in the impairment analysis. Certain of these assumptions were developed using data derived from comparable companies. The company's specialist also prepared a sensitivity analysis using certain assumptions based on the statistical data points of the assumptions. The firm's approach for testing the goodwill and indefinite lived intangible assets for impairment was to test the issuer's process and the firm used an auditor-employed specialist to assist it with testing the valuation models used by the issuer. The following deficiency was identified: • The auditor-employed specialist did not perform procedures to evaluate the reasonableness of certain significant assumptions used in the valuation models beyond reperforming the sensitivity analysis prepared by the company's specialist. (AS 2501.16) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 6 AS 1105 4 The issuer engaged an external specialist to assist in performing its annual impairment analysis for certain goodwill and intangible assets with indefinite lives. The issuer with the assistance of the company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the valuation models used in the impairment analysis. Certain of these assumptions were developed using data derived from comparable companies. The company's specialist also prepared a sensitivity analysis using certain assumptions based on the statistical data points of the assumptions. The firm's approach for testing the goodwill and indefinite lived intangible assets for impairment was to test the issuer's process and the firm used an auditor-employed specialist to assist it with testing the valuation models used by the issuer. The following deficiency was identified: • The auditor-employed specialist did not perform procedures to evaluate the relevance of the comparable companies used to develop these significant assumptions beyond determining whether those companies operated in the same industry as the issuer. (AS 1105.04 and .06) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 6 AS 1105 6 The issuer engaged an external specialist to assist in performing its annual impairment analysis for certain goodwill and intangible assets with indefinite lives. The issuer with the assistance of the company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the valuation models used in the impairment analysis. Certain of these assumptions were developed using data derived from comparable companies. The company's specialist also prepared a sensitivity analysis using certain assumptions based on the statistical data points of the assumptions. The firm's approach for testing the goodwill and indefinite lived intangible assets for impairment was to test the issuer's process and the firm used an auditor-employed specialist to assist it with testing the valuation models used by the issuer. The following deficiency was identified: • The auditor-employed specialist did not perform procedures to evaluate the relevance of the comparable companies used to develop these significant assumptions beyond determining whether those companies operated in the same industry as the issuer. (AS 1105.04 and .06) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 39 To test the existence of certain inventory the firm virtually observed the inventory at selected locations through video calls as of an interim date confirming only that inventory was present and performed certain roll forward procedures from the interim date to year-end. The following deficiency was identified: • The firm did not identify and test any controls over the existence of this inventory. (AS 2201.39) Triennially Inspected 1141 KPMG Cardenas Dosal, S.C. 2024 Mexico KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2510 9 To test the existence of certain inventory the firm virtually observed the inventory at selected locations through video calls as of an interim date confirming only that inventory was present and performed certain roll forward procedures from the interim date to year-end. The following deficiency was identified: • The firm did not perform sufficient procedures to test the existence of this inventory because the firm's observation procedures were not suitable as the firm did not perform any test count procedures during the observations. Therefore these observations did not provide any evidence of the quantity and physical condition of the inventory. (AS 2510.09) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 39 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm selected for testing a control over the valuation of this goodwill that consisted of the performance of an annual impairment analysis and management's review and approval of (1) certain projections and base data produced by the issuer and used by the company's specialist to determine the significant assumption and (2) the impairment analysis performed including the VIU model and carrying amount of the goodwill. The following deficiency was identified: • The firm did not identify and test any controls over the completeness of certain data produced by the issuer that was provided to the company's specialist and used in the operation of this control. (AS 2201.39) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 2 AS 2201 42 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm selected for testing a control over the valuation of this goodwill that consisted of the performance of an annual impairment analysis and management's review and approval of (1) certain projections and base data produced by the issuer and used by the company's specialist to determine the significant assumption and (2) the impairment analysis performed including the VIU model and carrying amount of the goodwill. The following deficiency was identified: • The firm did not evaluate the specific review procedures the control owners performed to assess the reasonableness of a significant assumption used by the issuer in the VIU model. (AS 2201.42 and .44) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 2 AS 2201 44 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm selected for testing a control over the valuation of this goodwill that consisted of the performance of an annual impairment analysis and management's review and approval of (1) certain projections and base data produced by the issuer and used by the company's specialist to determine the significant assumption and (2) the impairment analysis performed including the VIU model and carrying amount of the goodwill. The following deficiency was identified: • The firm did not evaluate the specific review procedures the control owners performed to assess the reasonableness of a significant assumption used by the issuer in the VIU model. (AS 2201.42 and .44) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 A10 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist to determine the significant assumption used by the issuer in performing its annual impairment analysis beyond evaluating the consistency of the assumptions with historical experience and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform procedures to evaluate the work of the company's specialist beyond inquiry and testing the accuracy of certain data used by the company's specialist. (AS 1105.A6-.A10; AS 2501.16) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 A6 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist to determine the significant assumption used by the issuer in performing its annual impairment analysis beyond evaluating the consistency of the assumptions with historical experience and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform procedures to evaluate the work of the company's specialist beyond inquiry and testing the accuracy of certain data used by the company's specialist. (AS 1105.A6-.A10; AS 2501.16) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 A7 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist to determine the significant assumption used by the issuer in performing its annual impairment analysis beyond evaluating the consistency of the assumptions with historical experience and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform procedures to evaluate the work of the company's specialist beyond inquiry and testing the accuracy of certain data used by the company's specialist. (AS 1105.A6-.A10; AS 2501.16) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 A8 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist to determine the significant assumption used by the issuer in performing its annual impairment analysis beyond evaluating the consistency of the assumptions with historical experience and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform procedures to evaluate the work of the company's specialist beyond inquiry and testing the accuracy of certain data used by the company's specialist. (AS 1105.A6-.A10; AS 2501.16) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 A9 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist to determine the significant assumption used by the issuer in performing its annual impairment analysis beyond evaluating the consistency of the assumptions with historical experience and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform procedures to evaluate the work of the company's specialist beyond inquiry and testing the accuracy of certain data used by the company's specialist. (AS 1105.A6-.A10; AS 2501.16) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 2501 16 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist to determine the significant assumption used by the issuer in performing its annual impairment analysis beyond evaluating the consistency of the assumptions with historical experience and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform procedures to evaluate the work of the company's specialist beyond inquiry and testing the accuracy of certain data used by the company's specialist. (AS 1105.A6-.A10; AS 2501.16) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2501 16 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions related to certain projected data used by the issuer in the VIU model including taking into account the issuer's intent and ability to achieve the assumptions and projected data beyond inquiry obtaining a current contract and bid from an external vendor unrelated to the significant assumption and performing a sensitivity analysis. (AS 2501.16 and .17) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2501 17 The issuer engaged an external specialist (“company's specialist”) to assist in determining a significant assumption used by the issuer in performing its annual impairment analysis for certain goodwill using a Value in Use (VIU) approach. The issuer used various inputs and assumptions some of which the engagement team considered to be significant to prepare the VIU model used in the impairment analysis. The firm's approach for substantively testing the goodwill for impairment was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions related to certain projected data used by the issuer in the VIU model including taking into account the issuer's intent and ability to achieve the assumptions and projected data beyond inquiry obtaining a current contract and bid from an external vendor unrelated to the significant assumption and performing a sensitivity analysis. (AS 2501.16 and .17) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 1 AS 2201 42 The principal auditor instructed the firm to test certain controls over revenue and accounts receivable that consisted of management's review of (1) changes to customer data (2) the accounts receivable and allowance for doubtful accounts (3) credit memos (4) sales reversal entries (5) the rebate reserves and underlying assumptions and (6) the allocation of the total transaction price to the separate performance obligations based on their relative standalone selling prices. The following deficiency was identified: • The firm 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) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 42 The principal auditor instructed the firm to test certain controls over revenue and accounts receivable that consisted of management's review of (1) changes to customer data (2) the accounts receivable and allowance for doubtful accounts (3) credit memos (4) sales reversal entries (5) the rebate reserves and underlying assumptions and (6) the allocation of the total transaction price to the separate performance obligations based on their relative standalone selling prices. The following deficiency was identified: • The firm 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) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 1 AS 2201 44 The principal auditor instructed the firm to test certain controls over revenue and accounts receivable that consisted of management's review of (1) changes to customer data (2) the accounts receivable and allowance for doubtful accounts (3) credit memos (4) sales reversal entries (5) the rebate reserves and underlying assumptions and (6) the allocation of the total transaction price to the separate performance obligations based on their relative standalone selling prices. The following deficiency was identified: • The firm 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) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 44 The principal auditor instructed the firm to test certain controls over revenue and accounts receivable that consisted of management's review of (1) changes to customer data (2) the accounts receivable and allowance for doubtful accounts (3) credit memos (4) sales reversal entries (5) the rebate reserves and underlying assumptions and (6) the allocation of the total transaction price to the separate performance obligations based on their relative standalone selling prices. The following deficiency was identified: • The firm 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) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2201 39 The principal auditor instructed the firm to test certain controls over revenue and accounts receivable that consisted of management's review of (1) changes to customer data (2) the accounts receivable and allowance for doubtful accounts (3) credit memos (4) sales reversal entries (5) the rebate reserves and underlying assumptions and (6) the allocation of the total transaction price to the separate performance obligations based on their relative standalone selling prices. The following deficiency was identified: • For certain of these controls the firm did not identify and test any controls over the accuracy and completeness of certain data or reports used in the operation of the controls. (AS 2201.39) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 39 The principal auditor instructed the firm to test certain controls over revenue and accounts receivable that consisted of management's review of (1) changes to customer data (2) the accounts receivable and allowance for doubtful accounts (3) credit memos (4) sales reversal entries (5) the rebate reserves and underlying assumptions and (6) the allocation of the total transaction price to the separate performance obligations based on their relative standalone selling prices. The following deficiency was identified: • For certain of these controls the firm did not identify and test any controls over the accuracy and completeness of certain data or reports used in the operation of the controls. (AS 2201.39) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 1105 10 The principal auditor also instructed the firm to perform certain procedures to substantively test revenue including the performance of 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 firm's testing of cash receipts data underlying the analysis. To test this data the firm agreed a sample of cash receipts to bank statements and/or customer invoices. The firm did not perform sufficient procedures to evaluate whether the cash receipts data was sufficiently precise and appropriate for use in the analysis because it did not evaluate whether: • the cash receipts of two of the selections were related to sales invoices outstanding in accounts receivables; • the entire cash receipt of one of the selections was related to sales invoices outstanding in accounts receivables using independent information from the customers as the firm only agreed a portion of the cash receipt to a customer invoice; and • the recorded cash reversal against the customer balance of one of the selections related to revenue and a related outstanding accounts receivable or evaluate whether this was a true exception in the context of the testing attributes. (AS 1105.10) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 1105 10 The principal auditor also instructed the firm to perform certain procedures to substantively test revenue including the performance of 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 firm's testing of cash receipts data underlying the analysis. To test this data the firm agreed a sample of cash receipts to bank statements and/or customer invoices. The firm did not perform sufficient procedures to evaluate whether the cash receipts data was sufficiently precise and appropriate for use in the analysis because it did not evaluate whether: • the cash receipts of two of the selections were related to sales invoices outstanding in accounts receivables; • the entire cash receipt of one of the selections was related to sales invoices outstanding in accounts receivables using independent information from the customers as the firm only agreed a portion of the cash receipt to a customer invoice; and • the recorded cash reversal against the customer balance of one of the selections related to revenue and a related outstanding accounts receivable or evaluate whether this was a true exception in the context of the testing attributes. (AS 1105.10) Triennially Inspected 1272 S.R. Batliboi & Co. LLP 2024 India Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A C Yes ICFR audit only Audits with multiple deficiencies Sales Discounts and Related Accruals 1 AS 2201 39 The firm selected for testing three controls over sales discounts and related accruals that consisted of management's (1) review of the accrual calculation and reconciliation of the accrual balance to the general ledger (2) analysis of accrual carryovers and (3) approval of sales discount disbursements. The firm did not identify and test any controls over the accuracy and completeness of certain data used in the operation of these controls. (AS 2201.39) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used an information technology (IT) system to initiate process and record revenue transactions. In its testing of controls over revenue the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. The accuracy and completeness of these data and reports depended on effective IT general controls (ITGCs). As a result of the deficiencies in the firm's testing of ITGCs the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 2201 42 The issuer used an information technology (IT) system to initiate process and record revenue transactions. In its testing of controls over revenue the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. The accuracy and completeness of these data and reports depended on effective IT general controls (ITGCs). The firm selected for testing two user access controls over this IT system that consisted of the issuer's review and approval of privileged system access including a review of the activity performed by users that are granted such access to confirm that it was aligned with the access request/requirement. The firm did not evaluate the specific review procedures that the control owner performed to (1) evaluate whether the activity was aligned with the access request/requirement and (2) investigate and timely resolve any activity performed by the user beyond the access request/requirement. (AS 2201.42 and .44) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 2201 44 The issuer used an information technology (IT) system to initiate process and record revenue transactions. In its testing of controls over revenue the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. The accuracy and completeness of these data and reports depended on effective IT general controls (ITGCs). The firm selected for testing two user access controls over this IT system that consisted of the issuer's review and approval of privileged system access including a review of the activity performed by users that are granted such access to confirm that it was aligned with the access request/requirement. The firm did not evaluate the specific review procedures that the control owner performed to (1) evaluate whether the activity was aligned with the access request/requirement and (2) investigate and timely resolve any activity performed by the user beyond the access request/requirement. (AS 2201.42 and .44) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Revenue 3 AS 2201 39 For certain revenue which was affected by the audit deficiencies related to user access the following additional deficiency was identified: The firm did not identify and test any controls over the manually recorded transaction prices used to recognize the revenue to ensure that they agreed with the prices associated with the respective sales orders. (AS 2201.39) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used an IT system to process and record revenue transactions. In its testing of controls over revenue the firm tested various automated controls that used data and reports generated or maintained by this IT system. The accuracy and completeness of these data and reports depended on effective ITGCs. As a result of the following deficiencies in the firm's testing of ITGCs the firm's testing of these automated controls was not sufficient. (AS 2201.46) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 42 The firm selected for testing certain user access controls over this IT system that consisted of the configuration of the IT systems to restrict access to authorized users depending on the nature of the activities performed by the users. The firm did not test aspects of these controls that would address certain risks identified by the firm associated with certain personnel having privileged access to specific functions of the IT system. (AS 2201.42 and .44) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 44 The firm selected for testing certain user access controls over this IT system that consisted of the configuration of the IT systems to restrict access to authorized users depending on the nature of the activities performed by the users. The firm did not test aspects of these controls that would address certain risks identified by the firm associated with certain personnel having privileged access to specific functions of the IT system. (AS 2201.42 and .44) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2301 16 The sample size the firm used in its certain of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2301 18 The sample size the firm used in its certain of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2301 37 The sample size the firm used in its certain of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2315 19 The sample size the firm used in its certain of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2315 23 The sample size the firm used in its certain of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1315 Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada 2024 Peru Ernst & Young Global Limited 2025-09-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2315 23A The sample size the firm used in its certain of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2301 8 The issuer recognizes multiple types of revenue. For one type of revenue and the related accounts which were measured based on estimates the following deficiency was identified: • The firm did not perform any procedures to test whether the issuer satisfied its performance obligations prior to the recognition of certain of this revenue. (AS 2301.08 and .13) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2301 13 The issuer recognizes multiple types of revenue. For one type of revenue and the related accounts which were measured based on estimates the following deficiency was identified: • The firm did not perform any procedures to test whether the issuer satisfied its performance obligations prior to the recognition of certain of this revenue. (AS 2301.08 and .13) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 2 AS 2501 10 The issuer recognizes multiple types of revenue. For one type of revenue and the related accounts which were measured based on estimates the following deficiency was identified: • The firm selected a sample of transactions to test the measurement of this revenue. The firm did not sufficiently evaluate whether data was appropriately used and significant assumptions were appropriately applied in measuring this revenue because it did not compare the amount of revenue it calculated for the selected transactions to the amount of revenue recorded by the issuer. (AS 2501.10) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 3 AS 2501 16 The issuer recognizes multiple types of revenue. For one type of revenue and the related accounts which were measured based on estimates the following deficiency was identified: • The firm did not evaluate the reasonableness of certain significant assumptions that the issuer used to estimate this type of revenue. (AS 2501.16) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 4 AS 2501 16 The issuer recognizes multiple types of revenue. For one type of revenue and the related accounts which were measured based on estimates the following deficiency was identified: • The firm did not evaluate the reasonableness of another significant assumption that the issuer used to estimate a related account. (AS 2501.16) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 5 AS 2301 8 For a second type of revenue the following deficiency was identified: • For certain revenue of this type the firm did not perform sufficient procedures to evaluate the issuer's identification of performance obligations because it did not evaluate (1) the issuer's basis for concluding that the goods and services or bundles thereof represented a single or multiple performance obligation(s) and (2) whether the issuer was acting as the principal for the transaction rather than an agent. (AS 2301.08 and .13) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 5 AS 2301 13 For a second type of revenue the following deficiency was identified: • For certain revenue of this type the firm did not perform sufficient procedures to evaluate the issuer's identification of performance obligations because it did not evaluate (1) the issuer's basis for concluding that the goods and services or bundles thereof represented a single or multiple performance obligation(s) and (2) whether the issuer was acting as the principal for the transaction rather than an agent. (AS 2301.08 and .13) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 6 AS 2301 8 For a second type of revenue the following deficiency was identified: • The firm did not perform sufficient procedures to test when the issuer recognized revenue because it did not perform procedures to evaluate whether (1) the issuer had satisfied the performance obligation(s) at the time revenue was recognized and (2) the revenue for each performance obligation should have been recognized at a point-in-time or over time. (AS 2301.08 and .13) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 6 AS 2301 13 For a second type of revenue the following deficiency was identified: • The firm did not perform sufficient procedures to test when the issuer recognized revenue because it did not perform procedures to evaluate whether (1) the issuer had satisfied the performance obligation(s) at the time revenue was recognized and (2) the revenue for each performance obligation should have been recognized at a point-in-time or over time. (AS 2301.08 and .13) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2301 8 For a second type of revenue the following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the determination of the transaction prices because when concluding that variable consideration did not exist the firm did not evaluate aspects of the revenue transactions that indicated the presence of variable consideration. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2301 13 For a second type of revenue the following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the determination of the transaction prices because when concluding that variable consideration did not exist the firm did not evaluate aspects of the revenue transactions that indicated the presence of variable consideration. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2810 3 For a second type of revenue the following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the determination of the transaction prices because when concluding that variable consideration did not exist the firm did not evaluate aspects of the revenue transactions that indicated the presence of variable consideration. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 8 AS 1105 10 For a second type of revenue the following deficiency was identified: • The firm did not test or identify and test controls over the completeness and accuracy of issuer-produced data the issuer used to develop significant assumptions used in measuring variable consideration for certain revenue of this type. (AS 1105.10) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 9 AS 2501 16 For a second type of revenue the following deficiency was identified: • The firm did not evaluate the reasonableness of a significant assumption the issuer used to measure this revenue. (AS 2501.16) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 10 AS 2301 16 For a third type of revenue the firm relied on certain controls to reduce the nature timing and extent of its substantive procedures to test revenue. The following deficiency was identified: • The firm did not identify and test controls that addressed the completeness and accuracy of revenue transaction details used in the operation of an information-technology automated control selected for testing. (AS 2301.16) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 11 AS 1105 10 For a third type of revenue the firm relied on certain controls to reduce the nature timing and extent of its substantive procedures to test revenue. The following deficiency was identified: • The firm did not test or identify and test any controls over the completeness and accuracy of certain system-generated data that was used to develop a significant assumption the issuer used to recognize revenue. (AS 1105.10) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 12 AS 2810 30 Related to multiple types of revenue the firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 12 AS 2810 31 Related to multiple types of revenue the firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A1 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A10 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A2 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A3 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A4 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A5 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A6 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A7 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A8 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A9 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 2501 7 The issuer engaged a specialist to perform a quantitative assessment to test the recoverability of certain long-lived assets. The firm did not perform procedures to test the valuation of these long-lived assets beyond obtaining a summary of the company's specialist's valuation memorandum. Further the firm did not perform any procedures with respect to its use of the work of the company's specialist as audit evidence. (AS 1105.A1-.A10; AS 2501.07) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Significant Risk 2 AS 2501 16 The firm's approach for substantively testing the allowance for doubtful accounts was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to evaluate whether the firm had a reasonable basis for the significant assumptions related to the expected credit loss rate the issuer used to estimate its allowance for doubtful accounts. (AS 2501.16) Triennially Inspected 2388 Wei, Wei & Co., LLP 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Significant Risk 3 AS 1105 10 The firm's approach for substantively testing the allowance for doubtful accounts was to test the issuer's process. The following deficiency was identified: • The firm did not perform procedures to test or test any controls over the accuracy and completeness of certain issuer-produced data the issuer used to develop the significant assumptions. (AS 1105.10) Triennially Inspected 2738 M&K CPAS, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets 1 AS 2301 8 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) Triennially Inspected 2738 M&K CPAS, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets 2 AS 2501 16 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) Triennially Inspected 3223 Mercurius & Associates LLP 2025 India 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transaction Fraud Risk 1 AS 2410 17 The firm did not perform substantive procedures beyond inquiry and obtaining and reading an issuer-prepared memorandum to evaluate whether the issuer appropriately accounted for certain aspects of a related party transaction in conformity with GAAP. (AS 2410.17) Triennially Inspected 3223 Mercurius & Associates LLP 2025 India 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transaction Fraud Risk 2 AS 1105 A8a The issuer engaged an external valuation specialist to determine the fair value of this related party transaction. The firm's approach to substantively testing the fair value of this transaction was to test the issuer's process. The firm did not evaluate the relevance and reliability of certain data from sources external to the issuer that the company's specialist used to develop certain significant assumptions. (AS 1105.A8a) Triennially Inspected 3223 Mercurius & Associates LLP 2025 India 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transaction Fraud Risk 3 AS 1105 A8b The issuer engaged an external valuation specialist to determine the fair value of this related party transaction. The firm's approach to substantively testing the fair value of this transaction was to test the issuer's process. The firm did not perform procedures beyond inquiry to evaluate the reasonableness of the significant assumptions developed by the company's specialist. (AS 1105.A8b) Triennially Inspected 3223 Mercurius & Associates LLP 2025 India 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account Fraud Risk 4 AS 2310 28 The firm used positive confirmation requests to test a significant account. The firm did not maintain control of the confirmation requests and responses through direct communication with the intended recipients of the confirmation requests. (AS 2310.28) Triennially Inspected 3223 Mercurius & Associates LLP 2025 India 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account Fraud Risk 5 AS 2310 29 The firm did not consider performing procedures to address the risks associated with electronic responses such as verifying the source and contents of the confirmation responses. (AS 2310.29) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 1105 10 The issuer entered into sales contracts with third-party customers which outlined the specific terms and conditions with the customers. For certain revenue transactions sales orders were generated (and revenue was recognized) based on the quantities of goods sold to the customers that were manually entered into the issuer's accounting system. The following deficiency was identified: • The firm selected for testing a control over the recognition of this revenue that consisted of the issuer's review of new and amended sales contracts. The firm identified a deficiency in the design effectiveness of the control during its interim testing. To test the remediation of this control deficiency the firm selected and tested a sample of new and amended sales contracts once the issuer remediated the deficiency. The firm did not perform procedures to test or test any controls over the completeness of the population of new and amended sales contracts from which it made its selections for testing. (AS 1105.10) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 44 The issuer entered into sales contracts with third-party customers which outlined the specific terms and conditions with the customers. For certain revenue transactions sales orders were generated (and revenue was recognized) based on the quantities of goods sold to the customers that were manually entered into the issuer's accounting system. The following deficiency was identified: • The firm selected for testing a control over the recognition of this revenue that consisted of the issuer's review of new and amended sales contracts. The firm identified a deficiency in the design effectiveness of the control during its interim testing. To test the remediation of this control deficiency the firm selected and tested a sample of new and amended sales contracts once the issuer remediated the deficiency. The firm did not perform sufficient procedures to test the effectiveness of the issuer's remediation of the control deficiency because approximately 44 percent of the new and amended sales contracts selected to test the remediation were entered into or amended prior to the issuer's remediation of the deficiency. (AS 2201.44) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 68 The issuer entered into sales contracts with third-party customers which outlined the specific terms and conditions with the customers. For certain revenue transactions sales orders were generated (and revenue was recognized) based on the quantities of goods sold to the customers that were manually entered into the issuer's accounting system. The following deficiencies were identified: • The firm identified a process risk point over the recognition of this revenue that did not have an associated control and concluded that a design effectiveness deficiency existed. The firm identified and tested compensating controls that it believed would mitigate the deficiency. The firm did not identify that these compensating controls did not address the risk of material misstatement related to the entry of incorrect quantities of goods sold into the issuer's accounting system. (AS 2201.68) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Liability Significant Risk 4 AS 2201 42 The firm used an auditor-employed specialist to assist it with evaluating the reasonableness of a significant assumption used by the issuer to estimate the fair value of a certain liability. To evaluate the reasonableness of the assumption the auditor-employed specialist developed an expectation of the assumption using certain external data. The following deficiency was identified: • The firm selected for testing a control that consisted of the issuer's review of the assumption. The firm did not evaluate the criteria the control owners used to identify matters for follow-up when assessing the reasonableness of the assumption. (AS 2201.42 and .44) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Liability Significant Risk 4 AS 2201 44 The firm used an auditor-employed specialist to assist it with evaluating the reasonableness of a significant assumption used by the issuer to estimate the fair value of a certain liability. To evaluate the reasonableness of the assumption the auditor-employed specialist developed an expectation of the assumption using certain external data. The following deficiency was identified: • The firm selected for testing a control that consisted of the issuer's review of the assumption. The firm did not evaluate the criteria the control owners used to identify matters for follow-up when assessing the reasonableness of the assumption. (AS 2201.42 and .44) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Liability Significant Risk 5 AS 1201 C6 The firm used an auditor-employed specialist to assist it with evaluating the reasonableness of a significant assumption used by the issuer to estimate the fair value of a certain liability. To evaluate the reasonableness of the assumption the auditor-employed specialist developed an expectation of the assumption using certain external data. The following deficiency was identified: • The firm did not sufficiently evaluate the work of the auditor-employed specialist as it did not identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the significant assumption and perform additional procedures or request the auditor-employed specialist to perform additional procedures as necessary to address the deficiency. (AS 1201.C6 and .C7) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Liability Significant Risk 5 AS 1201 C7 The firm used an auditor-employed specialist to assist it with evaluating the reasonableness of a significant assumption used by the issuer to estimate the fair value of a certain liability. To evaluate the reasonableness of the assumption the auditor-employed specialist developed an expectation of the assumption using certain external data. The following deficiency was identified: • The firm did not sufficiently evaluate the work of the auditor-employed specialist as it did not identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the significant assumption and perform additional procedures or request the auditor-employed specialist to perform additional procedures as necessary to address the deficiency. (AS 1201.C6 and .C7) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Liability Significant Risk 6 AS 1105 4 The firm used an auditor-employed specialist to assist it with evaluating the reasonableness of a significant assumption used by the issuer to estimate the fair value of a certain liability. To evaluate the reasonableness of the assumption the auditor-employed specialist developed an expectation of the assumption using certain external data. The following deficiency was identified: • The auditor-employed specialist did not perform sufficient procedures to evaluate the relevance of the external data when developing the expectation of the significant assumption. (AS 1105.04 and .06) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Liability Significant Risk 6 AS 1105 6 The firm used an auditor-employed specialist to assist it with evaluating the reasonableness of a significant assumption used by the issuer to estimate the fair value of a certain liability. To evaluate the reasonableness of the assumption the auditor-employed specialist developed an expectation of the assumption using certain external data. The following deficiency was identified: • The auditor-employed specialist did not perform sufficient procedures to evaluate the relevance of the external data when developing the expectation of the significant assumption. (AS 1105.04 and .06) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets 7 AS 2810 30 The firm did not identify and evaluate a departure from the applicable financial reporting framework related to the issuer's omission of certain disclosures related to intangible assets required by the framework. (AS 2810.30 and .31) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets 7 AS 2810 31 The firm did not identify and evaluate a departure from the applicable financial reporting framework related to the issuer's omission of certain disclosures related to intangible assets required by the framework. (AS 2810.30 and .31) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill 1 AS 2501 16 The issuer evaluated certain goodwill for impairment using a discounted cash flow model which was developed using various assumptions. The firm's approach for substantively testing this goodwill for impairment was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions used by the issuer to evaluate this goodwill for impairment beyond for certain assumptions comparing the assumptions to the most recent approved budget and prior year impairment tests performing a sensitivity analysis and inquiring of management and for certain other assumptions comparing the assumptions to the most recent approved budget and prior year impairment tests. (AS 2501.16) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Assets 2 AS 2305 13 The firm's substantive procedures to test certain inputs used by the issuer to record intangible assets included the performance of analytical procedures. For certain of these inputs the firm did not (1) determine for one of these inputs whether the expectation used in the analytical procedures was based on predictable relationships and (2) perform procedures to evaluate significant differences between the expected input and actual input used by the issuer beyond inquiry of management. (AS 2305.13 .14 and .21) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Assets 2 AS 2305 14 The firm's substantive procedures to test certain inputs used by the issuer to record intangible assets included the performance of analytical procedures. For certain of these inputs the firm did not (1) determine for one of these inputs whether the expectation used in the analytical procedures was based on predictable relationships and (2) perform procedures to evaluate significant differences between the expected input and actual input used by the issuer beyond inquiry of management. (AS 2305.13 .14 and .21) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Assets 2 AS 2305 21 The firm's substantive procedures to test certain inputs used by the issuer to record intangible assets included the performance of analytical procedures. For certain of these inputs the firm did not (1) determine for one of these inputs whether the expectation used in the analytical procedures was based on predictable relationships and (2) perform procedures to evaluate significant differences between the expected input and actual input used by the issuer beyond inquiry of management. (AS 2305.13 .14 and .21) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Assets 3 AS 2810 30 The firm did not identify and evaluate a departure from the applicable financial reporting framework related to the issuer's omission of certain disclosures related to intangible assets required by the framework. (AS 2810.30 and .31) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Assets 3 AS 2810 31 The firm did not identify and evaluate a departure from the applicable financial reporting framework related to the issuer's omission of certain disclosures related to intangible assets required by the framework. (AS 2810.30 and .31) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A C Yes Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 39 The principal auditor identified certain long-lived assets as a significant account and the existence and valuation of those assets as relevant assertions. The following deficiency was identified: • The firm did not identify and test any controls over the existence and valuation of these long-lived assets. (AS 2201.39) Triennially Inspected 3240 KPMG AG 2024 Switzerland KPMG International Cooperative 2025-09-25T00:00:00 Part I.A C Yes Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2301 8 The principal auditor identified certain long-lived assets as a significant account and the existence and valuation of those assets as relevant assertions. The following deficiency was identified: • The firm did not perform any substantive procedures to test the existence and valuation of these long-lived assets. (AS 2301.08) Triennially Inspected 3627 Sadler, Gibb & Associates, LLC 2025 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Contingent Consideration Liability 1 AS 2810 30 During the year the issuer acquired a business. As part of the consideration the issuer recorded a contingent consideration liability related to the sellers' rights to receive additional shares contingent upon the exercise or conversion of convertible notes options and warrants. The firm did not identify and evaluate a departure from GAAP related to the issuer not reflecting that certain warrants had been exercised after the acquisition in its determination of the contingent consideration liability at year end. (AS 2810.30) In connection with our review the issuer reevaluated its accounting for the contingent consideration liability and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm issued an audit report on the restated financial statements. Our procedures did not include review of any additional audit work related to the restatement. Triennially Inspected 5348 Frost, PLLC 2025 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiency below. The issuer reported different types of inventory. The following deficiency was identified: • The firm selected for testing a control over the review of certain inventory but did not perform procedures to test the design and operating effectiveness of this control. (AS 2201.42 and .44) Triennially Inspected 5348 Frost, PLLC 2025 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiency below. The issuer reported different types of inventory. The following deficiency was identified: • The firm selected for testing a control over the review of certain inventory but did not perform procedures to test the design and operating effectiveness of this control. (AS 2201.42 and .44) Triennially Inspected 5348 Frost, PLLC 2025 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiency below. The issuer reported different types of inventory. The following deficiency was identified: • The firm selected for testing controls over the review of certain other inventory and metrics of all inventory. The firm did not evaluate the review procedures that the control owners performed including procedures to identify items for follow up and the procedures to determine whether those items were appropriately resolved. (AS 2201.42 and .44) Triennially Inspected 5348 Frost, PLLC 2025 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiency below. The issuer reported different types of inventory. The following deficiency was identified: • The firm selected for testing controls over the review of certain other inventory and metrics of all inventory. The firm did not evaluate the review procedures that the control owners performed including procedures to identify items for follow up and the procedures to determine whether those items were appropriately resolved. (AS 2201.42 and .44) Triennially Inspected 5348 Frost, PLLC 2025 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 3 AS 2201 39 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiency below. The issuer reported different types of inventory. The following deficiency was identified: • The firm did not identify and test any controls over the completeness and accuracy of reports that were used in the operation of certain of the controls it selected for testing over inventory. (AS 2201.39) Triennially Inspected 5348 Frost, PLLC 2025 United States 2025-09-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 4 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiency below. The firm did not perform any procedures to test certain components of the issuer's calculation of the cost of certain inventory. (AS 2301.08) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Fraud Risk 1 AS 2810 35 The firm selected a sample of transactions to test revenue and performed cut-off testing. The following deficiency was identified: • The firm determined that the issuer was unable to support whether or not it had satisfied its performance obligations for several revenue transactions selected for testing. As a result the firm identified adjusting entries that the issuer recorded. The firm did not perform procedures to obtain further audit evidence to address whether the adjusting journal entries were appropriate or if the firm was unable to obtain sufficient appropriate audit evidence to have a reasonable basis to conclude about whether the financial statements as a whole were free of material misstatement the firm should have expressed a qualified opinion or a disclaimer of opinion. (AS 2810.35) In connection with our review the issuer reevaluated its accounting for certain revenue and related accounts and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Significant Risk 1 AS 2810 35 The firm selected a sample of transactions to test revenue and performed cut-off testing. The following deficiency was identified: • The firm determined that the issuer was unable to support whether or not it had satisfied its performance obligations for several revenue transactions selected for testing. As a result the firm identified adjusting entries that the issuer recorded. The firm did not perform procedures to obtain further audit evidence to address whether the adjusting journal entries were appropriate or if the firm was unable to obtain sufficient appropriate audit evidence to have a reasonable basis to conclude about whether the financial statements as a whole were free of material misstatement the firm should have expressed a qualified opinion or a disclaimer of opinion. (AS 2810.35) In connection with our review the issuer reevaluated its accounting for certain revenue and related accounts and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Fraud Risk 2 AS 2301 8 The firm selected a sample of transactions to test revenue and performed cut-off testing. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate whether two additional journal entries that it identified to reverse revenue which the issuer recorded were appropriate because it did not evaluate the appropriateness of the offsets to the reversed revenue. (AS 2301.08 and .13) In connection with our review the issuer reevaluated its accounting for certain revenue and related accounts and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Significant Risk 2 AS 2301 8 The firm selected a sample of transactions to test revenue and performed cut-off testing. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate whether two additional journal entries that it identified to reverse revenue which the issuer recorded were appropriate because it did not evaluate the appropriateness of the offsets to the reversed revenue. (AS 2301.08 and .13) In connection with our review the issuer reevaluated its accounting for certain revenue and related accounts and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Fraud Risk 2 AS 2301 13 The firm selected a sample of transactions to test revenue and performed cut-off testing. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate whether two additional journal entries that it identified to reverse revenue which the issuer recorded were appropriate because it did not evaluate the appropriateness of the offsets to the reversed revenue. (AS 2301.08 and .13) In connection with our review the issuer reevaluated its accounting for certain revenue and related accounts and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Significant Risk 2 AS 2301 13 The firm selected a sample of transactions to test revenue and performed cut-off testing. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate whether two additional journal entries that it identified to reverse revenue which the issuer recorded were appropriate because it did not evaluate the appropriateness of the offsets to the reversed revenue. (AS 2301.08 and .13) In connection with our review the issuer reevaluated its accounting for certain revenue and related accounts and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Significant Risk 3 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether the issuer recognized certain revenue in accordance with FASB ASC Topic 606 Revenue from Contracts with Customers because it did not evaluate the issuer's conclusions about collectability and satisfaction of performance obligations beyond obtaining confirmations from certain customers. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Fraud Risk 3 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether the issuer recognized certain revenue in accordance with FASB ASC Topic 606 Revenue from Contracts with Customers because it did not evaluate the issuer's conclusions about collectability and satisfaction of performance obligations beyond obtaining confirmations from certain customers. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Significant Risk 3 AS 2301 13 The firm did not perform sufficient procedures to evaluate whether the issuer recognized certain revenue in accordance with FASB ASC Topic 606 Revenue from Contracts with Customers because it did not evaluate the issuer's conclusions about collectability and satisfaction of performance obligations beyond obtaining confirmations from certain customers. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Fraud Risk 3 AS 2301 13 The firm did not perform sufficient procedures to evaluate whether the issuer recognized certain revenue in accordance with FASB ASC Topic 606 Revenue from Contracts with Customers because it did not evaluate the issuer's conclusions about collectability and satisfaction of performance obligations beyond obtaining confirmations from certain customers. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Fraud Risk 4 AS 2501 7 The firm did not perform procedures to test the issuer's conclusion that an allowance for doubtful accounts was not necessary beyond testing the issuer's accounts receivable aging report for clerical accuracy and completeness and testing certain subsequent cash receipts. (AS 2501.07) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue and Related Accounts Significant Risk 4 AS 2501 7 The firm did not perform procedures to test the issuer's conclusion that an allowance for doubtful accounts was not necessary beyond testing the issuer's accounts receivable aging report for clerical accuracy and completeness and testing certain subsequent cash receipts. (AS 2501.07) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 5 AS 2501 21 The issuer performed a quantitative assessment to determine whether its intangible assets were impaired. The firm's approach for substantively testing this assessment was to develop an independent expectation of the fair value of the intangible assets. The following deficiencies were identified: • The firm did not perform procedures to demonstrate that in developing its independent expectation it took into account certain requirements of the applicable financial framework so that its independent expectation considered the factors relevant to the estimate. (AS 2501.21) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 6 AS 2501 22 The issuer performed a quantitative assessment to determine whether its intangible assets were impaired. The firm's approach for substantively testing this assessment was to develop an independent expectation of the fair value of the intangible assets. The following deficiencies were identified: • The firm did not perform procedures to demonstrate it had a reasonable basis for certain assumptions it independently derived beyond performing a sensitivity analysis for one of those assumptions. (AS 2501.22) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 7 AS 2501 21 The issuer performed a quantitative assessment to determine whether its intangible assets were impaired. The firm's approach for substantively testing this assessment was to develop an independent expectation of the fair value of the intangible assets. The following deficiencies were identified: • The firm did not perform sufficient procedures to demonstrate that it had a reasonable basis including taking into account its understanding of the issuer's process for another assumption it derived because it did not demonstrate how its assumption took into account certain factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 7 AS 2501 22 The issuer performed a quantitative assessment to determine whether its intangible assets were impaired. The firm's approach for substantively testing this assessment was to develop an independent expectation of the fair value of the intangible assets. The following deficiencies were identified: • The firm did not perform sufficient procedures to demonstrate that it had a reasonable basis including taking into account its understanding of the issuer's process for another assumption it derived because it did not demonstrate how its assumption took into account certain factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 8 AS 1105 4 The issuer performed a quantitative assessment to determine whether its intangible assets were impaired. The firm's approach for substantively testing this assessment was to develop an independent expectation of the fair value of the intangible assets. The following deficiencies were identified: • The firm did not perform procedures to evaluate the relevance and reliability of information it obtained from an external source and used to develop one of its assumptions. (AS 1105.04 and .06) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 8 AS 1105 6 The issuer performed a quantitative assessment to determine whether its intangible assets were impaired. The firm's approach for substantively testing this assessment was to develop an independent expectation of the fair value of the intangible assets. The following deficiencies were identified: • The firm did not perform procedures to evaluate the relevance and reliability of information it obtained from an external source and used to develop one of its assumptions. (AS 1105.04 and .06) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 1101 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 1105 4 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2101 8 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2101 10 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2105 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2110 4 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2301 8 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2401 57 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2410 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2415 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2805 5 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2810 30 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2810 31 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because its procedures were limited to establishing a materiality level for the financial statements certain planning procedures and obtaining certain issuer-prepared documents. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2105.03; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2805.05; AS 2810.30 and .31 Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 1 AS 2301 8 The issuer held equity-method investments with various investees. For one equity-method investment the following deficiency was identified: • The firm did not perform procedures beyond inquiry to evaluate whether the issuer evaluated whether there were any factors or indicators that there was an other than temporary decrease in the value of this investment in accordance with FASB ASC Topic 323 Investments – Equity Method and Joint Ventures including consideration of certain factors of which the firm was aware that indicated that there was a loss in the value of the investment that was other than a temporary decline. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 1 AS 2301 11 The issuer held equity-method investments with various investees. For one equity-method investment the following deficiency was identified: • The firm did not perform procedures beyond inquiry to evaluate whether the issuer evaluated whether there were any factors or indicators that there was an other than temporary decrease in the value of this investment in accordance with FASB ASC Topic 323 Investments – Equity Method and Joint Ventures including consideration of certain factors of which the firm was aware that indicated that there was a loss in the value of the investment that was other than a temporary decline. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 1 AS 2810 3 The issuer held equity-method investments with various investees. For one equity-method investment the following deficiency was identified: • The firm did not perform procedures beyond inquiry to evaluate whether the issuer evaluated whether there were any factors or indicators that there was an other than temporary decrease in the value of this investment in accordance with FASB ASC Topic 323 Investments – Equity Method and Joint Ventures including consideration of certain factors of which the firm was aware that indicated that there was a loss in the value of the investment that was other than a temporary decline. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 2 AS 2301 8 The issuer held equity-method investments with various investees. For one equity-method investment the following deficiency was identified: • The firm did not perform procedures beyond inquiry to evaluate whether the issuer recognized its share of the earnings or losses of the investee. (AS 2301.08 and .11) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 2 AS 2301 11 The issuer held equity-method investments with various investees. For one equity-method investment the following deficiency was identified: • The firm did not perform procedures beyond inquiry to evaluate whether the issuer recognized its share of the earnings or losses of the investee. (AS 2301.08 and .11) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 3 AS 2301 8 The issuer held equity-method investments with various investees. For one equity-method investment the following deficiency was identified: • The firm did not sufficiently evaluate the issuer's conclusion not to consolidate this investee because it did not evaluate whether the issuer had a controlling financial interest in the investee. (AS 2301.08 and .11) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 3 AS 2301 11 The issuer held equity-method investments with various investees. For one equity-method investment the following deficiency was identified: • The firm did not sufficiently evaluate the issuer's conclusion not to consolidate this investee because it did not evaluate whether the issuer had a controlling financial interest in the investee. (AS 2301.08 and .11) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 4 AS 2301 8 For another equity-method investment the firm did not perform procedures beyond inquiry to test the valuation of this investment at year end and the related impairment losses. Further the firm did not perform procedures to test whether impairment losses were recorded in the appropriate period even though it was aware of certain contrary evidence. (AS 2301.08; AS 2810.03) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Equity-Method Investments Significant Risk 4 AS 2810 3 For another equity-method investment the firm did not perform procedures beyond inquiry to test the valuation of this investment at year end and the related impairment losses. Further the firm did not perform procedures to test whether impairment losses were recorded in the appropriate period even though it was aware of certain contrary evidence. (AS 2301.08; AS 2810.03) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2301 8 The issuer reported goodwill related to certain reporting units. The firm did not perform any procedures to evaluate whether the issuer identified its reporting units in conformity with FASB ASC Topic 350 Intangibles – Goodwill and Other. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Fraud Risk 1 AS 2301 8 The issuer reported goodwill related to certain reporting units. The firm did not perform any procedures to evaluate whether the issuer identified its reporting units in conformity with FASB ASC Topic 350 Intangibles – Goodwill and Other. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2301 13 The issuer reported goodwill related to certain reporting units. The firm did not perform any procedures to evaluate whether the issuer identified its reporting units in conformity with FASB ASC Topic 350 Intangibles – Goodwill and Other. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Fraud Risk 1 AS 2301 13 The issuer reported goodwill related to certain reporting units. The firm did not perform any procedures to evaluate whether the issuer identified its reporting units in conformity with FASB ASC Topic 350 Intangibles – Goodwill and Other. (AS 2301.08 and .13) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 2 AS 1105 A8 For one reporting unit the issuer engaged an external specialist to perform a quantitative assessment to evaluate goodwill for impairment. The firm's approach for substantively testing the quantitative assessment was to test the issuer's process and develop an independent expectation. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions used by the company's specialist in the quantitative assessment and/or used by the firm in developing its independent expectation. (AS 1105.A8b; AS 2501.16) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Fraud Risk 2 AS 1105 A8 For one reporting unit the issuer engaged an external specialist to perform a quantitative assessment to evaluate goodwill for impairment. The firm's approach for substantively testing the quantitative assessment was to test the issuer's process and develop an independent expectation. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions used by the company's specialist in the quantitative assessment and/or used by the firm in developing its independent expectation. (AS 1105.A8b; AS 2501.16) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Fraud Risk 2 AS 2501 16 For one reporting unit the issuer engaged an external specialist to perform a quantitative assessment to evaluate goodwill for impairment. The firm's approach for substantively testing the quantitative assessment was to test the issuer's process and develop an independent expectation. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions used by the company's specialist in the quantitative assessment and/or used by the firm in developing its independent expectation. (AS 1105.A8b; AS 2501.16) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 2 AS 2501 16 For one reporting unit the issuer engaged an external specialist to perform a quantitative assessment to evaluate goodwill for impairment. The firm's approach for substantively testing the quantitative assessment was to test the issuer's process and develop an independent expectation. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions used by the company's specialist in the quantitative assessment and/or used by the firm in developing its independent expectation. (AS 1105.A8b; AS 2501.16) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Fraud Risk 3 AS 2501 22 For one reporting unit the issuer engaged an external specialist to perform a quantitative assessment to evaluate goodwill for impairment. The firm's approach for substantively testing the quantitative assessment was to test the issuer's process and develop an independent expectation. The following deficiency was identified: • The firm did not perform procedures to demonstrate it had a reasonable basis for certain assumptions it independently derived and used in its independent expectation. (AS 2501.22) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 3 AS 2501 22 For one reporting unit the issuer engaged an external specialist to perform a quantitative assessment to evaluate goodwill for impairment. The firm's approach for substantively testing the quantitative assessment was to test the issuer's process and develop an independent expectation. The following deficiency was identified: • The firm did not perform procedures to demonstrate it had a reasonable basis for certain assumptions it independently derived and used in its independent expectation. (AS 2501.22) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2501 22 For another reporting unit the issuer performed a qualitative assessment to evaluate goodwill for impairment and determined that it was not more likely than not that the carrying value of the reporting unit was more than its fair value. The firm's approach for substantively testing whether this goodwill was impaired was to develop an independent expectation of the fair value of the reporting unit. The firm did not perform procedures to demonstrate it had a reasonable basis for certain assumptions it independently derived and used in developing its independent expectation. (AS 2501.22) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Goodwill Fraud Risk 4 AS 2501 22 For another reporting unit the issuer performed a qualitative assessment to evaluate goodwill for impairment and determined that it was not more likely than not that the carrying value of the reporting unit was more than its fair value. The firm's approach for substantively testing whether this goodwill was impaired was to develop an independent expectation of the fair value of the reporting unit. The firm did not perform procedures to demonstrate it had a reasonable basis for certain assumptions it independently derived and used in developing its independent expectation. (AS 2501.22) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A E No Financial statement audit only Audits with a single deficiency Investments Significant Risk 1 AS 2301 8 The firm did not perform procedures to evaluate the issuer's qualitative assessments to evaluate whether certain of its investments were impaired. (AS 2301.08 and .11) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A E No Financial statement audit only Audits with a single deficiency Investments Significant Risk 1 AS 2301 11 The firm did not perform procedures to evaluate the issuer's qualitative assessments to evaluate whether certain of its investments were impaired. (AS 2301.08 and .11) Triennially Inspected 5525 Fruci & Associates II, PLLC 2024 United States 2025-09-25T00:00:00 Part I.A F No Financial statement audit only Audits with a single deficiency Goodwill 1 AS 2501 7 The issuer performed a quantitative assessment using a discounted cash flow analysis to assess goodwill for impairment. The firm did not perform procedures to test the issuer's quantitative assessment beyond comparing the analysis with prior year analyses testing the mathematical accuracy of the analysis and researching general industry economic conditions. (AS 2501.07) Triennially Inspected 596 CohnReznick LLP 2025 United States 2025-09-11T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed these areas and did not identify the deficiencies below. The firm selected for testing a control over revenue. Except for one of the selected items that was part of the firm's walkthrough the firm did not test the specific review procedures that the control owner performed over certain aspects of this control beyond inspecting for evidence of the control owners' approval. (AS 2201.44) Triennially Inspected 596 CohnReznick LLP 2025 United States 2025-09-11T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Inventory 2 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed these areas and did not identify the deficiencies below. The firm selected for testing certain controls over inventory. Except for certain of the selected items that were part of the firm's walkthroughs the firm did not test the specific review procedures that the control owners performed over certain aspects of these controls beyond inspecting for evidence of the control owners' approval. (AS 2201.44) Triennially Inspected 596 CohnReznick LLP 2025 United States 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Business Combination Significant Risk 1 AS 2501 16 During the year the issuer acquired a business. The firm did not perform procedures to evaluate the reasonableness of a significant assumption used to estimate the amount of acquired intangible assets beyond inquiry with management. (AS 2501.16) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2810 30 The firm did not identify and evaluate departures from GAAP related to the issuer's inaccurate disclosures that it recognized revenue in conformity with FASB ASC Topic 605 Revenue Recognition which was superseded by FASB ASC Topic 606 Revenue from Contracts with Customers prior to the year under audit. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its disclosures of revenue recognition and determined that the disclosures were inaccurate. The issuer did not file an amended Form 10-K or a Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected the disclosures in a subsequent filing. The firm reissued its report on the financial statements. Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2810 31 The firm did not identify and evaluate departures from GAAP related to the issuer's inaccurate disclosures that it recognized revenue in conformity with FASB ASC Topic 605 Revenue Recognition which was superseded by FASB ASC Topic 606 Revenue from Contracts with Customers prior to the year under audit. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its disclosures of revenue recognition and determined that the disclosures were inaccurate. The issuer did not file an amended Form 10-K or a Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected the disclosures in a subsequent filing. The firm reissued its report on the financial statements. Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2301 8 The firm did not perform procedures to test the issuer's restated revenue disclosures discussed. (AS 2301.08) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 3 AS 2301 8 The firm did not perform sufficient procedures to test revenue because it limited its procedures to tracing a sample of revenue transactions to issuer-prepared invoices. (AS 2301.08) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 4 AS 2310 31 The firm sent positive confirmation requests to test accounts receivable. The firm did not perform any alternative procedures for the positive confirmation requests for which it did not receive a response. (AS 2310.31) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 5 AS 2501 7 The firm did not perform procedures to test the allowance for doubtful accounts beyond reading issuer prepared accounts receivable aging schedules. (AS 2501.07) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 6 AS 2410 12 The firm did not perform any procedures to test the transactions with related parties disclosed in the financial statements. (AS 2410.12) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 7 AS 2410 14 The firm did not evaluate whether the issuer had properly identified its related parties and relationships and transactions with related parties. (AS 2410.14) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Subsequent Events 8 AS 2801 12 The firm did not perform auditing procedures at or near the date of the auditor's report to ascertain the occurrence of subsequent events that may have required adjustment or disclosure essential to a fair presentation of the financial statements. (AS 2801.12) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries 9 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts 1 AS 2301 8 The firm did not perform sufficient procedures to test one type of revenue because its procedures were limited to determining for a sample of transactions that a contract existed between the issuer and the customer. (AS 2301.08) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts 2 AS 2301 8 The firm did not perform sufficient procedures to test another type of revenue because it limited its procedures to tracing a sample of revenue transactions to issuer-prepared invoices and/or other issuer prepared information. (AS 2301.08) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts 3 AS 2301 8 The firm did not perform procedures to test the completeness of a related account. (AS 2301.08) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts 4 AS 2301 8 In addition the firm did not perform sufficient procedures to test this account because it limited its procedures to tracing a sample of transactions to certain issuer-prepared information. (AS 2301.08) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Certain Asset 5 AS 2501 7 The firm did not perform procedures to test the fair value of a certain asset beyond performing recalculations of an issuer-prepared schedule. (AS 2501.07) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transactions 6 AS 2301 8 The firm did not perform any procedures to evaluate the issuer's accounting treatment of certain significant transactions. (AS 2301.08) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transactions 7 AS 2810 30 In addition the firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain required disclosures related to these significant transactions. (AS 2810.30 and .31) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transactions 7 AS 2810 31 In addition the firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain required disclosures related to these significant transactions. (AS 2810.30 and .31) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries 8 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2810 30 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2810 31 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 In addition the firm did not perform sufficient procedures to test revenue because it limited its procedures to tracing a sample of revenue transactions to issuer-prepared invoices. (AS 2301.08 and .13) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 In addition the firm did not perform sufficient procedures to test revenue because it limited its procedures to tracing a sample of revenue transactions to issuer-prepared invoices. (AS 2301.08 and .13) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Related Party Payables 3 AS 2310 31 The firm sent positive confirmation requests to test related party payables. The firm did not perform any alternative procedures for a positive confirmation request for which it did not receive a response. (AS 2310.31) Triennially Inspected 957 Zhen Hui Certified Public Accountants 2024 Hong Kong 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 4 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 1132 UHY Haines Norton 2024 Australia 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account Fraud Risk 1 AS 2501 16 The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used to determine an estimate related to a significant account. (AS 2501.16) Triennially Inspected 1132 UHY Haines Norton 2024 Australia 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 1132 UHY Haines Norton 2024 Australia 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 1 AS 2501 16 The issuer performed an impairment assessment of certain intangible assets. The firm did not perform procedures beyond obtaining and reading the issuer's sensitivity analysis to evaluate the reasonableness of the significant assumptions the issuer used in the impairment assessment. (AS 2501.16) Triennially Inspected 1132 UHY Haines Norton 2024 Australia 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to certain revenue and the related accounts receivable. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT dependent manual controls was not sufficient. (AS 2201.46) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to certain revenue and the related accounts receivable. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT dependent manual controls was not sufficient. (AS 2201.46) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 2 AS 2201 42 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · The firm did not perform sufficient procedures to test the design of these controls because it did not evaluate whether (1) the controls were designed to satisfy the issuer's control objectives and (2) the control owners possessed the necessary authority and competence to perform the controls. (AS 2201.42) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 42 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · The firm did not perform sufficient procedures to test the design of these controls because it did not evaluate whether (1) the controls were designed to satisfy the issuer's control objectives and (2) the control owners possessed the necessary authority and competence to perform the controls. (AS 2201.42) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 3 AS 2201 39 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of certain system-generated information that were used in the operation of these controls. (AS 2201.39) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 39 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of certain system-generated information that were used in the operation of these controls. (AS 2201.39) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 4 AS 1105 10 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · The firm used certain system-generated information (1) in its testing of these controls and/or (2) to make selections to test certain controls but did not perform procedures to test or test any controls over the accuracy and/or completeness of this information. Further the firm used other information in its testing of certain of these controls but did not sufficiently test or test controls over the accuracy and completeness of this information because it did not test how the information was generated. (AS 1105.10) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · The firm used certain system-generated information (1) in its testing of these controls and/or (2) to make selections to test certain controls but did not perform procedures to test or test any controls over the accuracy and/or completeness of this information. Further the firm used other information in its testing of certain of these controls but did not sufficiently test or test controls over the accuracy and completeness of this information because it did not test how the information was generated. (AS 1105.10) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 5 AS 1105 10 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · In its testing of a control over user access the firm identified a deviation indicating that an individual may have had inappropriate access to one of these systems. The firm determined that this deviation did not affect its conclusion on the operating effectiveness of this control based on certain system-generated information provided by the issuer. The firm did not sufficiently evaluate the effect of this deviation on the operating effectiveness of this control because it did not test or test controls over the accuracy and completeness of this information. (AS 1105.10; AS 2201.48) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 1105 10 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · In its testing of a control over user access the firm identified a deviation indicating that an individual may have had inappropriate access to one of these systems. The firm determined that this deviation did not affect its conclusion on the operating effectiveness of this control based on certain system-generated information provided by the issuer. The firm did not sufficiently evaluate the effect of this deviation on the operating effectiveness of this control because it did not test or test controls over the accuracy and completeness of this information. (AS 1105.10; AS 2201.48) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 5 AS 2201 48 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · In its testing of a control over user access the firm identified a deviation indicating that an individual may have had inappropriate access to one of these systems. The firm determined that this deviation did not affect its conclusion on the operating effectiveness of this control based on certain system-generated information provided by the issuer. The firm did not sufficiently evaluate the effect of this deviation on the operating effectiveness of this control because it did not test or test controls over the accuracy and completeness of this information. (AS 1105.10; AS 2201.48) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2201 48 The firm selected for testing various user access and change management controls over these IT systems that consisted of the issuer's reviews of (1) the granting and monitoring of user access and (2) changes to the production environment of these IT systems. The following deficiency was identified: · In its testing of a control over user access the firm identified a deviation indicating that an individual may have had inappropriate access to one of these systems. The firm determined that this deviation did not affect its conclusion on the operating effectiveness of this control based on certain system-generated information provided by the issuer. The firm did not sufficiently evaluate the effect of this deviation on the operating effectiveness of this control because it did not test or test controls over the accuracy and completeness of this information. (AS 1105.10; AS 2201.48) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 6 AS 2301 16 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 16 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 6 AS 2301 18 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 18 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 6 AS 2301 37 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 37 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 6 AS 2315 19 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2315 19 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 6 AS 2315 23 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2315 23 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 6 AS 2315 23A As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2315 23A As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The sample sizes that the firm used in certain of its substantive procedures to test these accounts 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 7 AS 1105 10 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The firm did not perform sufficient procedures to test or sufficiently test controls over the accuracy and completeness of certain system-generated information that the firm used in its substantive testing. (AS 1105.10) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 1105 10 As a result of the firm's ITGC testing deficiencies the firm did not perform sufficient substantive procedures over this revenue and the related accounts receivable as follows: · The firm did not perform sufficient procedures to test or sufficiently test controls over the accuracy and completeness of certain system-generated information that the firm used in its substantive testing. (AS 1105.10) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 8 AS 2201 42 The following additional deficiency was identified: • The firm selected for testing controls that consisted of the issuer's reviews of the sales return reserve and the allowance for doubtful accounts. The firm 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 8 AS 2201 42 The following additional deficiency was identified: • The firm selected for testing controls that consisted of the issuer's reviews of the sales return reserve and the allowance for doubtful accounts. The firm 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 8 AS 2201 44 The following additional deficiency was identified: • The firm selected for testing controls that consisted of the issuer's reviews of the sales return reserve and the allowance for doubtful accounts. The firm 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 8 AS 2201 44 The following additional deficiency was identified: • The firm selected for testing controls that consisted of the issuer's reviews of the sales return reserve and the allowance for doubtful accounts. The firm 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) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 9 AS 2501 16 The following additional deficiency was identified: • The firm's approach to substantively test the allowance for doubtful accounts was to test the issuer's process. The firm did not perform procedures beyond reading an issuer-prepared memorandum to evaluate the reasonableness of the significant assumptions the issuer used to develop this allowance. (AS 2501.16) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 10 AS 2201 39 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm selected for testing a control that consisted of the issuer's review of the fair values of these investments. The firm did not identify and test any controls that addressed the reliability of pricing information obtained from the external parties that were used in the operation of this control. (AS 2201.39) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 11 AS 2501 7 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm did not perform substantive procedures to test the valuation of these investments beyond (1) comparing their reported fair values to the statements obtained from the external parties that managed the respective investment funds and (2) for a selection of investment funds testing the fair values of certain underlying investments while excluding others from testing. (AS 2501.07) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 12 AS 2810 30 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm did not identify and evaluate a departure from GAAP related to the issuer's presentation of the fair value and non-fair value amounts of these investments within the same short-term and long-term line items in its balance sheet rather than presenting them as separate line items or parenthetically disclosing the amounts measured at fair value included in the aggregate amounts in conformity with FASB ASC Topic 825 Financial Instruments. (AS 2810.30 and .31) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 12 AS 2810 31 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm did not identify and evaluate a departure from GAAP related to the issuer's presentation of the fair value and non-fair value amounts of these investments within the same short-term and long-term line items in its balance sheet rather than presenting them as separate line items or parenthetically disclosing the amounts measured at fair value included in the aggregate amounts in conformity with FASB ASC Topic 825 Financial Instruments. (AS 2810.30 and .31) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 13 AS 2810 30 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm did not identify and evaluate another departure from GAAP related to the issuer's inclusion of certain investments within its fair value hierarchy disclosure rather than excluding them in conformity with FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 13 AS 2810 31 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm did not identify and evaluate another departure from GAAP related to the issuer's inclusion of certain investments within its fair value hierarchy disclosure rather than excluding them in conformity with FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 14 AS 2810 30 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm did not identify and evaluate other departures from GAAP related to the issuer's omission of and/or misstatements in certain disclosures required under FASB ASC Topic 320 Investments – Debt Securities and FASB ASC Topic 820 regarding the nature of these investments and the methods used to determine their fair values. (AS 2810.30 and .31) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 14 AS 2810 31 The issuer reported investment securities that were held within various investment funds managed by external parties. The following deficiency was identified: • The firm did not identify and evaluate other departures from GAAP related to the issuer's omission of and/or misstatements in certain disclosures required under FASB ASC Topic 320 Investments – Debt Securities and FASB ASC Topic 820 regarding the nature of these investments and the methods used to determine their fair values. (AS 2810.30 and .31) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cost of Sales 15 AS 2201 39 The firm did not identify and test any controls that addressed the appropriateness of the expenses included within cost of sales. (AS 2201.39) Triennially Inspected 1487 Grant Thornton Zhitong Certified Public Accountants LLP 2024 China Grant Thornton International Limited 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cost of Sales 16 AS 2301 8 The firm did not perform any procedures to evaluate the appropriateness of the issuer's inclusion of certain compensation expenses within cost of sales. (AS 2301.08) Triennially Inspected 2468 Citrin Cooperman & Company, LLP 2025 United States 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Redeemable Common Stock 1 AS 2301 8 Certain redeemable shares of the issuer's common stock were redeemed during the year. The firm did not perform any procedures to test the redemption price per share of the redeemed shares. (AS 2301.08) Triennially Inspected 2468 Citrin Cooperman & Company, LLP 2025 United States 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Income Taxes 2 AS 2501 7 The firm did not perform procedures beyond obtaining and reading the issuer's analysis to evaluate the issuer's conclusion that a deferred tax asset valuation allowance was not required including consideration of contradictory evidence. (AS 2501.07; AS 2810.03) Unrelated to our review the issuer reevaluated its accounting for the gross deferred tax asset and the related valuation allowance and concluded that material misstatements existed that had not been previously identified. The issuer subsequently corrected these misstatements in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 2468 Citrin Cooperman & Company, LLP 2025 United States 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Income Taxes 2 AS 2810 3 The firm did not perform procedures beyond obtaining and reading the issuer's analysis to evaluate the issuer's conclusion that a deferred tax asset valuation allowance was not required including consideration of contradictory evidence. (AS 2501.07; AS 2810.03) Unrelated to our review the issuer reevaluated its accounting for the gross deferred tax asset and the related valuation allowance and concluded that material misstatements existed that had not been previously identified. The issuer subsequently corrected these misstatements in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 2468 Citrin Cooperman & Company, LLP 2025 United States 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Income Taxes 3 AS 2810 30 The firm did not identify and evaluate a misstatement in the amount of the gross deferred tax asset disclosed in the financial statements. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its accounting for the gross deferred tax asset and the related valuation allowance and concluded that material misstatements existed that had not been previously identified. The issuer subsequently corrected these misstatements in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 2468 Citrin Cooperman & Company, LLP 2025 United States 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Income Taxes 3 AS 2810 31 The firm did not identify and evaluate a misstatement in the amount of the gross deferred tax asset disclosed in the financial statements. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its accounting for the gross deferred tax asset and the related valuation allowance and concluded that material misstatements existed that had not been previously identified. The issuer subsequently corrected these misstatements in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 42 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) Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 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) Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 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) Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2810 30 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) Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2810 31 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) Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Work in Progress Fraud Risk 4 AS 2810 30 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) Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Trade Receivables 5 AS 2310 31 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) Triennially Inspected 6006 Moore Assurance S.A.S. 2024 Colombia 2025-09-11T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Accounts Receivables 6 AS 2201 39 The firm did not identify and test any controls that addressed the risks associated with certain other receivables. (AS 2201.39) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 1 AS 2410 14 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not perform procedures to evaluate whether the issuer had properly identified its related parties and relationships and transactions with related parties including evaluating whether an interest-free loan agreement was a transaction with a related party. (AS 2410.14) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 2 AS 2310 31 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not perform procedures to test related party transactions and balances including the presentation of the transactions in the statement of cash flows beyond sending confirmation requests for the balances and inspecting evidence of cash receipts and payments. Further for certain confirmations that were not returned or that were returned without a response the firm did not perform alternative procedures. (AS 2310.31; AS 2410.12) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 2 AS 2410 12 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not perform procedures to test related party transactions and balances including the presentation of the transactions in the statement of cash flows beyond sending confirmation requests for the balances and inspecting evidence of cash receipts and payments. Further for certain confirmations that were not returned or that were returned without a response the firm did not perform alternative procedures. (AS 2310.31; AS 2410.12) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 3 AS 2410 17 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not identify and evaluate the issuer's omission of disclosures related to certain related party transactions required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 3 AS 2810 30 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not identify and evaluate the issuer's omission of disclosures related to certain related party transactions required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 3 AS 2810 31 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not identify and evaluate the issuer's omission of disclosures related to certain related party transactions required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 4 AS 2405 7 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not take any action in response to information regarding certain related party transactions that indicated possible illegal acts. (AS 2405.07 and .10) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 4 AS 2405 10 The issuer entered into various transactions with related parties. The following deficiency was identified: • The firm did not take any action in response to information regarding certain related party transactions that indicated possible illegal acts. (AS 2405.07 and .10) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transactions 5 AS 2301 8 During the year the issuer entered into certain significant transactions. The following deficiency was identified: • The firm did not perform substantive procedures to test whether the issuer's accounting for and presentation of these transactions was in accordance with GAAP. (AS 2301.08) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transactions 6 AS 2501 7 During the year the issuer entered into certain significant transactions. The following deficiency was identified: • The firm did not perform substantive procedures to test the fair value of certain aspects of these transactions beyond obtaining and testing the mathematical accuracy of the issuer's estimates. (AS 2501.07) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transactions 7 AS 2810 30 During the year the issuer entered into certain significant transactions. The following deficiency was identified: • The firm did not identify and evaluate the issuer's omission of certain disclosures related to these transactions required by FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transactions 7 AS 2810 31 During the year the issuer entered into certain significant transactions. The following deficiency was identified: • The firm did not identify and evaluate the issuer's omission of certain disclosures related to these transactions required by FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 8 AS 2301 8 The firm did not perform any substantive procedures to test certain revenue. (AS 2301.08 and .13) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 8 AS 2301 13 The firm did not perform any substantive procedures to test certain revenue. (AS 2301.08 and .13) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 8 For certain other revenue the firm did not perform substantive procedures to test whether performance obligations had been satisfied before revenue was recognized beyond obtaining issuer Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 13 For certain other revenue the firm did not perform substantive procedures to test whether performance obligations had been satisfied before revenue was recognized beyond obtaining issuer Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 10 AS 2310 31 The firm sent positive confirmation requests to the issuer's customers for a sample of accounts receivable. For the confirmation requests that were not returned or that were returned without a response the firm did not perform alternative procedures. (AS 2310.31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 11 AS 2301 41 The firm did not perform procedures to examine material adjustments made to accounts receivable during the course of preparing the financial statements. (AS 2301.41) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 12 AS 2501 7 The firm did not perform any procedures to test the allowance for doubtful accounts. (AS 2501.07) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Cash 13 AS 2810 30 The firm did not identify and evaluate that the issuer did not present an aspect of the statement of cash flows in conformity with FASB ASC Topic 230 Statement of Cash Flows. (AS 2810.30 and .31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Cash 13 AS 2810 31 The firm did not identify and evaluate that the issuer did not present an aspect of the statement of cash flows in conformity with FASB ASC Topic 230 Statement of Cash Flows. (AS 2810.30 and .31) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Cash 14 AS 2301 8 The firm did not perform any substantive procedures to test a disclosure related to cash. (AS 2301.08) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 15 AS 2401 61 The firm identified journal entries that met certain criteria and selected certain of those journal entries for testing without having an appropriate rationale. Further the firm did not examine the underlying support for the journal entries. (AS 2401.61) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform any substantive procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform any substantive procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 2 AS 2301 8 The firm did not perform any substantive procedures to evaluate the appropriateness of the issuer's accounting for an aspect of this significant account. (AS 2301.08) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 3 AS 1105 4 The issuer reported an estimate related to this significant account. The following deficiency was identified: • The firm did not perform procedures to evaluate the relevance and reliability of information from external sources that the issuer used to develop significant assumptions. (AS 1105.04 and .06) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 3 AS 1105 6 The issuer reported an estimate related to this significant account. The following deficiency was identified: • The firm did not perform procedures to evaluate the relevance and reliability of information from external sources that the issuer used to develop significant assumptions. (AS 1105.04 and .06) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 4 AS 1105 10 The issuer reported an estimate related to this significant account. The following deficiency was identified: • The firm did not perform any procedures to test or test any controls over the accuracy and completeness of issuer-produced information that the issuer used to develop significant assumptions. (AS 1105.10) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 5 AS 2501 16 The issuer reported an estimate related to this significant account. The following deficiency was identified: • The firm did not perform procedures to evaluate the reasonableness of the significant assumptions developed by the issuer beyond testing one input of one of these assumptions. (AS 2501.16) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 6 AS 2301 8 The firm did not evaluate whether certain aspects of the issuer's disclosures related to this significant account were accurate including consideration of contradictory evidence included in the workpapers. (AS 2301.08; AS 2810.03) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 6 AS 2810 3 The firm did not evaluate whether certain aspects of the issuer's disclosures related to this significant account were accurate including consideration of contradictory evidence included in the workpapers. (AS 2301.08; AS 2810.03) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 7 AS 2410 14 The firm did not perform procedures to evaluate whether the issuer had properly identified its related parties and relationships and transactions with related parties. (AS 2410.14) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Fraud Risk 8 AS 2410 12 The firm did not perform procedures to test related party transactions and balances beyond confirming the transactions and inspecting evidence of certain cash receipts to and payments from related parties. (AS 2410.12) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Going Concern 9 AS 2301 8 The issuer did not include any disclosures related to its ability to continue as a going concern. Certain conditions and events existed that would indicate substantial doubt about the issuer's ability to continue as a going concern for a reasonable period of time. The firm did not perform any procedures to determine whether the issuer's lack of disclosures regarding its ability to continue as a going concern was in conformity with FASB ASC Topic 205 Presentation of Financial Statements. (AS 2301.08) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 10 AS 2401 61 The firm identified journal entries that met certain criteria and selected certain of those journal entries for testing without having an appropriate rationale. Further the firm did not examine the underlying support for the journal entries. (AS 2401.61) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform any substantive procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606. (AS 2301.08 and .13) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform any substantive procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606. (AS 2301.08 and .13) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not evaluate the completeness of the issuer's revenue disclosures required by FASB ASC Topic 606. (AS 2301.08) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Significant Transactions 3 AS 2301 8 The firm did not perform substantive procedures to evaluate whether the issuer appropriately accounted for certain significant transactions in accordance with GAAP beyond reading the contractual agreements and inquiring of management. (AS 2301.08) Triennially Inspected 6255 PAN-CHINA SINGAPORE PAC 2024 Singapore 2025-09-11T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 4 AS 2401 61 The firm identified journal entries that met certain criteria and selected certain of those journal entries for testing without having an appropriate rationale. Further the firm did not examine the underlying support for the journal entries. (AS 2401.61) Triennially Inspected 74 S. R. Snodgrass, P.C. 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 1105 A8a The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm's approach to test ACL was to test management's process. The issuer engaged a specialist to prepare a model validation report over the issuer's model to estimate the quantitative component of the ACL. The firm did not test or test controls over the accuracy and completeness of the company-produced data used by the company's specialist in its model validation report. (AS 1105.A8a) Triennially Inspected 74 S. R. Snodgrass, P.C. 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2501 16 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. To determine the qualitative component of the ACL the issuer identified one or more data inputs relevant to each identified qualitative factor and established quantitative ranges for these inputs corresponding with the risk level expected to be assigned to each factor and loan pool. The firm did not perform sufficient procedures to evaluate the reasonableness of the significant assumptions related to the assessed risk levels and related basis points applied to the collateral factor reserves. (AS 2501.16) Triennially Inspected 74 S. R. Snodgrass, P.C. 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Investment Securities 1 AS 2301 8 The issuer utilized a service organization to process its securities transactions. The issuer used an impairment analysis prepared by the service organization to determine whether certain investment securities had credit related impairments. The firm did not perform procedures to test the accuracy of credit ratings used by the service organization in developing the issuer's impairment analysis for these investment securities. (AS 2301.08) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 42 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing a control that consisted of a review of impairment indicators for goodwill. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 44 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing a control that consisted of a review of impairment indicators for goodwill. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 2 AS 2201 39 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not identify and test any controls over the issuer's identification of reporting units in accordance with FASB ASC Topic 350 Intangibles – Goodwill and Other. (AS 2201.39) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 A8a The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer engaged a valuation specialist to perform its annual goodwill impairment analysis. The following deficiency was identified: · The firm did not perform any procedures to evaluate the relevance and reliability of certain data from external sources used by the company's specialist to develop a significant assumption. (AS 1105.A8a) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 4 AS 1105 A8b The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer engaged a valuation specialist to perform its annual goodwill impairment analysis. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialist beyond inquiry of the company's specialist. (AS 1105.A8b) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1105 A8b The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer engaged a valuation specialist to perform its annual goodwill impairment analysis. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of another significant assumption developed by the company's specialist beyond performing a sensitivity analysis. (AS 1105.A8b) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 6 AS 2501 10 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not sufficiently evaluate whether the method used by the issuer to develop the fair value of its reporting units was in conformity with FASB ASC Topic 350 because the firm did not perform procedures to evaluate the appropriateness of the issuer's identification of its reporting units. (AS 2501.10) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 7 AS 2301 8 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not perform procedures beyond reviewing the issuer's fourth quarter triggering event assessment to evaluate whether a quantitative assessment was required during the fourth quarter including consideration of contrary evidence included in the firm's audit work papers. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 7 AS 2301 11 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not perform procedures beyond reviewing the issuer's fourth quarter triggering event assessment to evaluate whether a quantitative assessment was required during the fourth quarter including consideration of contrary evidence included in the firm's audit work papers. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 7 AS 2810 3 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not perform procedures beyond reviewing the issuer's fourth quarter triggering event assessment to evaluate whether a quantitative assessment was required during the fourth quarter including consideration of contrary evidence included in the firm's audit work papers. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Going Concern Significant Risk 8 AS 2201 42 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing a control that consisted of management's review of the issuer's ability to continue as a going concern for a reasonable period of time. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Going Concern Significant Risk 8 AS 2201 44 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing a control that consisted of management's review of the issuer's ability to continue as a going concern for a reasonable period of time. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Going Concern Significant Risk 9 AS 2415 3 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. During the year under audit the firm identified conditions and events that caused it to believe there could be substantial doubt about the issuer's ability to continue as a going concern for a reasonable period of time and concluded that the substantial doubt was alleviated. The firm did not sufficiently evaluate management's plans as disclosed in the footnotes because it did not (1) assess the likelihood that the issuer could obtain additional funding beyond inquiries of management and review of historical funding and (2) sufficiently test the prospective financial information which was significant to overcoming the adverse conditions and events including consideration of contrary evidence included in the firm's audit work papers. (AS 2415.03 .08 and .09; AS 2810.03) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Going Concern Significant Risk 9 AS 2415 8 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. During the year under audit the firm identified conditions and events that caused it to believe there could be substantial doubt about the issuer's ability to continue as a going concern for a reasonable period of time and concluded that the substantial doubt was alleviated. The firm did not sufficiently evaluate management's plans as disclosed in the footnotes because it did not (1) assess the likelihood that the issuer could obtain additional funding beyond inquiries of management and review of historical funding and (2) sufficiently test the prospective financial information which was significant to overcoming the adverse conditions and events including consideration of contrary evidence included in the firm's audit work papers. (AS 2415.03 .08 and .09; AS 2810.03) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Going Concern Significant Risk 9 AS 2415 9 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. During the year under audit the firm identified conditions and events that caused it to believe there could be substantial doubt about the issuer's ability to continue as a going concern for a reasonable period of time and concluded that the substantial doubt was alleviated. The firm did not sufficiently evaluate management's plans as disclosed in the footnotes because it did not (1) assess the likelihood that the issuer could obtain additional funding beyond inquiries of management and review of historical funding and (2) sufficiently test the prospective financial information which was significant to overcoming the adverse conditions and events including consideration of contrary evidence included in the firm's audit work papers. (AS 2415.03 .08 and .09; AS 2810.03) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Going Concern Significant Risk 9 AS 2810 3 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. During the year under audit the firm identified conditions and events that caused it to believe there could be substantial doubt about the issuer's ability to continue as a going concern for a reasonable period of time and concluded that the substantial doubt was alleviated. The firm did not sufficiently evaluate management's plans as disclosed in the footnotes because it did not (1) assess the likelihood that the issuer could obtain additional funding beyond inquiries of management and review of historical funding and (2) sufficiently test the prospective financial information which was significant to overcoming the adverse conditions and events including consideration of contrary evidence included in the firm's audit work papers. (AS 2415.03 .08 and .09; AS 2810.03) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Accounts Receivable Fraud Risk 10 AS 2201 42 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over the reconciliation and/or review of revenue and accounts receivable. The firm 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) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Accounts Receivable Fraud Risk 10 AS 2201 44 The firm's post-issuance monitoring program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over the reconciliation and/or review of revenue and accounts receivable. The firm 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) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 4 The firm did not perform any procedures to test the relevance and reliability of certain data obtained from an external vendor used in its substantive testing of revenue. (AS 1105.04 and .06) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 6 The firm did not perform any procedures to test the relevance and reliability of certain data obtained from an external vendor used in its substantive testing of revenue. (AS 1105.04 and .06) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Cash and Cash Equivalents Fraud Risk 2 AS 2301 8 The firm did not perform any procedures to test the existence of certain cash balances. (AS 2301.08 and .13) Triennially Inspected 324 Macias Gini & O'Connell LLP 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Cash and Cash Equivalents Fraud Risk 2 AS 2301 13 The firm did not perform any procedures to test the existence of certain cash balances. (AS 2301.08 and .13) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing certain controls over change management and user access but did not test or test any controls over the completeness of the population from which it selected its samples for testing. (AS 1105.10) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing certain controls over change management and user access but did not test or test any controls over the completeness of the population from which it selected its samples for testing. (AS 1105.10) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 2 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing certain controls over change management and user access but did not test or test any controls over the completeness of the population from which it selected its samples for testing. (AS 1105.10) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm did not identify and test controls that addressed the risk that users with the ability to develop changes also have the ability to implement those changes. (AS 2201.39) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm did not identify and test controls that addressed the risk that users with the ability to develop changes also have the ability to implement those changes. (AS 2201.39) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 3 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm did not identify and test controls that addressed the risk that users with the ability to develop changes also have the ability to implement those changes. (AS 2201.39) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 4 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing a control over logical access to several IT systems but did not test the aspect of this control related to these IT systems. (AS 2201.42 and .44) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing a control over logical access to several IT systems but did not test the aspect of this control related to these IT systems. (AS 2201.42 and .44) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 4 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing a control over logical access to several IT systems but did not test the aspect of this control related to these IT systems. (AS 2201.42 and .44) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 4 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing a control over logical access to several IT systems but did not test the aspect of this control related to these IT systems. (AS 2201.42 and .44) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing a control over logical access to several IT systems but did not test the aspect of this control related to these IT systems. (AS 2201.42 and .44) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 4 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue accounts receivable and unbilled receivables. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiency in the firm's testing of IT general controls (ITGCs) the firm's testing of these IT-dependent manual controls was not sufficient. • The firm selected for testing a control over logical access to several IT systems but did not test the aspect of this control related to these IT systems. (AS 2201.42 and .44) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 5 AS 2201 42 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing certain controls that consisted of the issuer's review of certain aspects of revenue accounts receivable and unbilled receivables. The firm did not perform procedures to evaluate the review procedures 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) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2201 42 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing certain controls that consisted of the issuer's review of certain aspects of revenue accounts receivable and unbilled receivables. The firm did not perform procedures to evaluate the review procedures 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) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 5 AS 2201 42 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing certain controls that consisted of the issuer's review of certain aspects of revenue accounts receivable and unbilled receivables. The firm did not perform procedures to evaluate the review procedures 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) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 5 AS 2201 44 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing certain controls that consisted of the issuer's review of certain aspects of revenue accounts receivable and unbilled receivables. The firm did not perform procedures to evaluate the review procedures 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) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2201 44 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing certain controls that consisted of the issuer's review of certain aspects of revenue accounts receivable and unbilled receivables. The firm did not perform procedures to evaluate the review procedures 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) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 5 AS 2201 44 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing certain controls that consisted of the issuer's review of certain aspects of revenue accounts receivable and unbilled receivables. The firm did not perform procedures to evaluate the review procedures 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) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 6 AS 2201 48 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing a control over the review of the accuracy of invoices. The firm identified deviations in the operation of this control but did not determine the effect of these deviations on the operating effectiveness of this control. (AS 2201.48) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2201 48 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing a control over the review of the accuracy of invoices. The firm identified deviations in the operation of this control but did not determine the effect of these deviations on the operating effectiveness of this control. (AS 2201.48) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 6 AS 2201 48 For revenue accounts receivable and unbilled receivables the following additional deficiency was identified: · The firm selected for testing a control over the review of the accuracy of invoices. The firm identified deviations in the operation of this control but did not determine the effect of these deviations on the operating effectiveness of this control. (AS 2201.48) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2301 16 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2301 16 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2301 18 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2301 18 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2301 37 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2301 37 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2315 19 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2315 19 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2315 23 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2315 23 With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2315 23A With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2315 23A With respect to the firm's substantive procedures the following deficiency was identified: · The sample sizes that 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 (1) a level of control reliance that was not supported due to (a) the deficiencies in the firm's control testing discussed above and (b) the firm not obtaining evidence that a control over change management which it selected for testing was operating effectively during the entire period of reliance and (2) an assessment of risk for other substantive tests related to the same assertion that was not supported as the engagement team did not perform any other substantive procedures to test the same assertions. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 8 AS 2301 8 With respect to the firm's substantive procedures the following deficiency was identified: · The firm did not perform substantive procedures to test unbilled receivables. (AS 2301.08 and .13) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Unbilled Receivables Fraud Risk 8 AS 2301 13 With respect to the firm's substantive procedures the following deficiency was identified: · The firm did not perform substantive procedures to test unbilled receivables. (AS 2301.08 and .13) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 9 AS 2501 7 With respect to the firm's substantive procedures the following deficiency was identified: · The firm did not perform substantive procedures to test the allowance for doubtful accounts. (AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 10 AS 1105 10 With respect to the firm's substantive procedures the following deficiency was identified: · The firm did not perform procedures to test or sufficiently test controls over as discussed above the accuracy and completeness of information and reports that it used in its substantive procedures to test revenue. (AS 1105.10) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 11 AS 2201 39 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not identify and test controls that addressed (1) the reasonableness of the company's specialist's estimate of this liability and (2) the accuracy and completeness of data and reasonableness of assumptions which were developed by the issuer that the company's specialist used to develop the estimate of this liability. (AS 2201.39) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 12 AS 2301 8 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not perform procedures beyond obtaining and reading the issuer's analysis to evaluate whether the issuer's recognition of this liability was appropriate including evaluation of certain contrary information included in its work papers. (AS 2301.08; AS 2810.03) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 12 AS 2810 3 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not perform procedures beyond obtaining and reading the issuer's analysis to evaluate whether the issuer's recognition of this liability was appropriate including evaluation of certain contrary information included in its work papers. (AS 2301.08; AS 2810.03) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A1 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A10 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A2 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A3 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A4 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A5 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A6 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A7 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A8 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1105 A9 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 3 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 4 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 5 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 6 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 7 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 8 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 9 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 10 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 11 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 1210 12 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-Related Liability 13 AS 2501 7 The issuer engaged an external specialist to estimate an insurance-related liability. The firm engaged another specialist to test this liability. The following deficiency was identified: · The firm did not evaluate whether the auditor-engaged specialist's work provided sufficient appropriate audit evidence because it did not identify that the specialist did not perform substantive procedures to test this liability beyond inquiry and obtaining and reading the report prepared by the company's specialist. Further the firm did not perform any procedures with respect to its use of the work of the (1) company's specialist as audit evidence and (2) auditor-engaged specialist as audit evidence beyond obtaining an independence confirmation and documenting the resolution of an inquiry by the specialist. (AS 1105.A1 - .A10; AS 1210.03 - .12; AS 2501.07) Triennially Inspected 549 Zwick CPA, PLLC 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Warrants 1 AS 2301 8 During the year the issuer issued common stock with warrants. The firm did not perform any procedures to test whether the warrants should have been accounted for as equity or a liability. (AS 2301.08) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Information Technology General Controls 1 AS 2201 62 The issuer used a service organization to process and record transactions to its general ledger. The firm obtained the service auditor's report for this service organization and identified for testing certain complementary user entity controls (CUECs). The firm identified control deficiencies related to certain of these CUECs. The firm did not evaluate the effect of these deficiencies on the issuer's ability to meet control objectives stated in the service auditor's report. (AS 2201.62 and .B22) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Information Technology General Controls 1 AS 2201 B22 The issuer used a service organization to process and record transactions to its general ledger. The firm obtained the service auditor's report for this service organization and identified for testing certain complementary user entity controls (CUECs). The firm identified control deficiencies related to certain of these CUECs. The firm did not evaluate the effect of these deficiencies on the issuer's ability to meet control objectives stated in the service auditor's report. (AS 2201.62 and .B22) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 46 As a result of the deficiencies in ITGC testing discussed above the firm did not sufficiently test whether the information technology (IT) automated application controls and the IT-dependent manual controls it selected for testing over revenue were effective as each control was dependent on the effectiveness of ITGCs. (AS 2201.46) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 39 The issuer used a service organization to provide management reporting related to certain revenue. The firm did not perform any procedures to evaluate whether the issuer implemented the appropriate CUECs as described in the service auditor's report. (AS 2201.39 and .B22) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 B22 The issuer used a service organization to provide management reporting related to certain revenue. The firm did not perform any procedures to evaluate whether the issuer implemented the appropriate CUECs as described in the service auditor's report. (AS 2201.39 and .B22) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 8 In addition the firm relied upon a report produced by the service organization in its substantive procedures over certain revenue but did not test or identify and test any controls over (as discussed above) the accuracy and completeness of the report. (AS 2301.08 and .13) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 13 In addition the firm relied upon a report produced by the service organization in its substantive procedures over certain revenue but did not test or identify and test any controls over (as discussed above) the accuracy and completeness of the report. (AS 2301.08 and .13) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 For certain revenue items selected for testing the firm did not evaluate whether the performance obligation was satisfied before revenue was recognized. (AS 2301.08 and .13) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 For certain revenue items selected for testing the firm did not evaluate whether the performance obligation was satisfied before revenue was recognized. (AS 2301.08 and .13) Triennially Inspected 577 Stowe & Degon LLC 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not test the issuer's disclosure of revenue by type beyond tracing the amounts to an issuer-prepared schedule. (AS 2301.08) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 1 AS 1105 4 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm engaged an external specialist to evaluate the reasonableness of certain significant assumptions developed by the company's specialist. The firm did not identify that the auditor-engaged specialist did not evaluate the reliability of data it obtained from external sources and used to evaluate the reasonableness of these significant assumptions and perform additional procedures or request the specialist perform additional procedures to address the issue. (AS 1105.04 and .06; AS 1210.09 and .12) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 1 AS 1105 6 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm engaged an external specialist to evaluate the reasonableness of certain significant assumptions developed by the company's specialist. The firm did not identify that the auditor-engaged specialist did not evaluate the reliability of data it obtained from external sources and used to evaluate the reasonableness of these significant assumptions and perform additional procedures or request the specialist perform additional procedures to address the issue. (AS 1105.04 and .06; AS 1210.09 and .12) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 1 AS 1210 9 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm engaged an external specialist to evaluate the reasonableness of certain significant assumptions developed by the company's specialist. The firm did not identify that the auditor-engaged specialist did not evaluate the reliability of data it obtained from external sources and used to evaluate the reasonableness of these significant assumptions and perform additional procedures or request the specialist perform additional procedures to address the issue. (AS 1105.04 and .06; AS 1210.09 and .12) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 1 AS 1210 12 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm engaged an external specialist to evaluate the reasonableness of certain significant assumptions developed by the company's specialist. The firm did not identify that the auditor-engaged specialist did not evaluate the reliability of data it obtained from external sources and used to evaluate the reasonableness of these significant assumptions and perform additional procedures or request the specialist perform additional procedures to address the issue. (AS 1105.04 and .06; AS 1210.09 and .12) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 2 AS 1105 A10 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to inquiry and comparing the assumptions to information within certain other company specialists' reports. Further the firm did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 2 AS 1105 A6 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to inquiry and comparing the assumptions to information within certain other company specialists' reports. Further the firm did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 2 AS 1105 A7 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to inquiry and comparing the assumptions to information within certain other company specialists' reports. Further the firm did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 2 AS 1105 A8 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to inquiry and comparing the assumptions to information within certain other company specialists' reports. Further the firm did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 2 AS 1105 A9 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to inquiry and comparing the assumptions to information within certain other company specialists' reports. Further the firm did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 2 AS 2501 16 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to inquiry and comparing the assumptions to information within certain other company specialists' reports. Further the firm did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 3 AS 1105 A10 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions developed by the issuer. Specifically the firm developed expectations of these assumptions using in part information in certain other company specialists' reports but did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 3 AS 1105 A6 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions developed by the issuer. Specifically the firm developed expectations of these assumptions using in part information in certain other company specialists' reports but did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 3 AS 1105 A7 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions developed by the issuer. Specifically the firm developed expectations of these assumptions using in part information in certain other company specialists' reports but did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 3 AS 1105 A8 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions developed by the issuer. Specifically the firm developed expectations of these assumptions using in part information in certain other company specialists' reports but did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 3 AS 1105 A9 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions developed by the issuer. Specifically the firm developed expectations of these assumptions using in part information in certain other company specialists' reports but did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 3 AS 2501 16 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions developed by the issuer. Specifically the firm developed expectations of these assumptions using in part information in certain other company specialists' reports but did not perform procedures to evaluate the work of those company specialists. (AS 1105.A6 - .A10; AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 4 AS 2501 16 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to demonstrate that it had a reasonable basis for its expectations of additional significant assumptions the issuer developed because it did not take into account the issuer's written plans or other relevant documentation. (AS 2501.16 and .17) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 4 AS 2501 17 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform sufficient procedures to demonstrate that it had a reasonable basis for its expectations of additional significant assumptions the issuer developed because it did not take into account the issuer's written plans or other relevant documentation. (AS 2501.16 and .17) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Liabilities Significant Risk 5 AS 2501 16 The issuer engaged specialists to assist in determining the valuation of certain liabilities. The firm's approach for substantively testing these liabilities was to test the issuer's process. The following deficiency which involved two types of significant assumptions applied across multiple locations was identified: · The firm did not perform any procedures to evaluate the reasonableness of other significant assumptions. (AS 2501.16) Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Equity Instruments 1 AS 2810 30 The firm did not identify and evaluate a GAAP departure related to the issuer not reclassifying noncontrolling interests to additional paid in capital upon the exchange of equity instruments that was required by FASB ASC Topic 810 Consolidation. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its accounting for the exchange of equity instruments and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 677 Cherry Bekaert LLP 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Equity Instruments 1 AS 2810 31 The firm did not identify and evaluate a GAAP departure related to the issuer not reclassifying noncontrolling interests to additional paid in capital upon the exchange of equity instruments that was required by FASB ASC Topic 810 Consolidation. (AS 2810.30 and .31) Unrelated to our review the issuer reevaluated its accounting for the exchange of equity instruments and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 820 Ramirez Jimenez International CPA's 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The issuer recognized revenue from contracts based on certain inputs. The firm did not perform sufficient procedures to test certain inputs used by the issuer in recognizing revenue as their procedures were limited to comparing the inputs to system-generated reports without performing procedures to test or identify and test controls over the accuracy of those reports. (AS 1105.10) Triennially Inspected 820 Ramirez Jimenez International CPA's 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 16 The firm's substantive procedures to test certain revenue included selecting a sample of transactions for testing. The firm's sample was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Triennially Inspected 820 Ramirez Jimenez International CPA's 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 23 The firm's substantive procedures to test certain revenue included selecting a sample of transactions for testing. The firm's sample was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Triennially Inspected 820 Ramirez Jimenez International CPA's 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 23A The firm's substantive procedures to test certain revenue included selecting a sample of transactions for testing. The firm's sample was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Triennially Inspected 820 Ramirez Jimenez International CPA's 2024 United States 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of journal entries that met the criteria. The firm did not perform sufficient procedures to test those journal entries because it limited its procedures to certain entries without having an appropriate rationale. (AS 2401.61) Triennially Inspected 820 Ramirez Jimenez International CPA's 2024 United States 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 1 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient procedures to test those journal entries because it limited its procedures to certain journal entries without having an appropriate rationale. (AS 2401.61) Triennially Inspected 820 Ramirez Jimenez International CPA's 2024 United States 2025-07-24T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 1 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient procedures to test those journal entries because it limited its procedures to certain journal entries without having an appropriate rationale. (AS 2401.61) Triennially Inspected 1024 Yarel + Partners 2024 Israel 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 1 AS 2501 16 The firm did not perform procedures to evaluate the reasonableness of a significant assumption the issuer developed to estimate a significant account beyond comparing the amount to a contract executed in the prior year. (AS 2501.16) Triennially Inspected 1024 Yarel + Partners 2024 Israel 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 2 AS 2301 8 The firm did not perform procedures beyond inquiry to test the appropriateness of a disclosure related to this significant account. (AS 2301.08) Triennially Inspected 1263 Ernst & Young LLP 2024 Canada Ernst & Young Global Limited 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Other Investments 1 AS 2810 30 The firm did not identify and evaluate a GAAP departure related to the issuer's classification of distributions received from an equity method investee as investing activities within the statement of cash flows rather than as operating activities considering the nature of the activities that generated the distributions in conformity with FASB ASC Topic 230 Statement of Cash Flows. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its classification of the distributions received from the investee within the statement of cash flows and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. The issuer also reevaluated its controls over the classification of distributions received from its equity method investee within the statement of cash flows and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR. Triennially Inspected 1263 Ernst & Young LLP 2024 Canada Ernst & Young Global Limited 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Other Investments 1 AS 2810 31 The firm did not identify and evaluate a GAAP departure related to the issuer's classification of distributions received from an equity method investee as investing activities within the statement of cash flows rather than as operating activities considering the nature of the activities that generated the distributions in conformity with FASB ASC Topic 230 Statement of Cash Flows. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its classification of the distributions received from the investee within the statement of cash flows and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. The issuer also reevaluated its controls over the classification of distributions received from its equity method investee within the statement of cash flows and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR. Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 1 AS 2301 8 The issuer engaged an external specialist to assist in testing its long-lived assets for impairment. The firm's approach for substantively testing the impairment analyses was to test the issuer's process. The firm used an auditor-employed specialist to assist in testing these analyses. The following deficiency was identified: · The firm did not test whether the issuer compared the fair value of each asset group to the carrying value of each asset group in determining that none of the asset groups were impaired. (AS 2301.08) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 2 AS 1105 A8a The issuer engaged an external specialist to assist in testing its long-lived assets for impairment. The firm's approach for substantively testing the impairment analyses was to test the issuer's process. The firm used an auditor-employed specialist to assist in testing these analyses. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist did not (1) perform procedures beyond reviewing sensitivity analyses prepared by the company's specialist to evaluate the reasonableness of a significant assumption developed by the company's specialist (2) perform any procedures to evaluate the reasonableness of a significant assumption developed by the issuer (3) perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions because it limited its procedures to comparing these assumptions to historical and recent experience but did not evaluate the significant differences between the assumptions and the historical and recent experience (4) evaluate the relevance and reliability of certain external data the company's specialist used to develop these significant assumptions and (5) test the accuracy and completeness of the issuer-produced information used by the company's specialist and perform additional procedures or request the specialist perform additional procedures to address the issues. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 2 AS 1105 A8b The issuer engaged an external specialist to assist in testing its long-lived assets for impairment. The firm's approach for substantively testing the impairment analyses was to test the issuer's process. The firm used an auditor-employed specialist to assist in testing these analyses. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist did not (1) perform procedures beyond reviewing sensitivity analyses prepared by the company's specialist to evaluate the reasonableness of a significant assumption developed by the company's specialist (2) perform any procedures to evaluate the reasonableness of a significant assumption developed by the issuer (3) perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions because it limited its procedures to comparing these assumptions to historical and recent experience but did not evaluate the significant differences between the assumptions and the historical and recent experience (4) evaluate the relevance and reliability of certain external data the company's specialist used to develop these significant assumptions and (5) test the accuracy and completeness of the issuer-produced information used by the company's specialist and perform additional procedures or request the specialist perform additional procedures to address the issues. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 2 AS 1201 C6 The issuer engaged an external specialist to assist in testing its long-lived assets for impairment. The firm's approach for substantively testing the impairment analyses was to test the issuer's process. The firm used an auditor-employed specialist to assist in testing these analyses. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist did not (1) perform procedures beyond reviewing sensitivity analyses prepared by the company's specialist to evaluate the reasonableness of a significant assumption developed by the company's specialist (2) perform any procedures to evaluate the reasonableness of a significant assumption developed by the issuer (3) perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions because it limited its procedures to comparing these assumptions to historical and recent experience but did not evaluate the significant differences between the assumptions and the historical and recent experience (4) evaluate the relevance and reliability of certain external data the company's specialist used to develop these significant assumptions and (5) test the accuracy and completeness of the issuer-produced information used by the company's specialist and perform additional procedures or request the specialist perform additional procedures to address the issues. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 2 AS 1201 C7 The issuer engaged an external specialist to assist in testing its long-lived assets for impairment. The firm's approach for substantively testing the impairment analyses was to test the issuer's process. The firm used an auditor-employed specialist to assist in testing these analyses. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist did not (1) perform procedures beyond reviewing sensitivity analyses prepared by the company's specialist to evaluate the reasonableness of a significant assumption developed by the company's specialist (2) perform any procedures to evaluate the reasonableness of a significant assumption developed by the issuer (3) perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions because it limited its procedures to comparing these assumptions to historical and recent experience but did not evaluate the significant differences between the assumptions and the historical and recent experience (4) evaluate the relevance and reliability of certain external data the company's specialist used to develop these significant assumptions and (5) test the accuracy and completeness of the issuer-produced information used by the company's specialist and perform additional procedures or request the specialist perform additional procedures to address the issues. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 2 AS 2501 16 The issuer engaged an external specialist to assist in testing its long-lived assets for impairment. The firm's approach for substantively testing the impairment analyses was to test the issuer's process. The firm used an auditor-employed specialist to assist in testing these analyses. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist did not (1) perform procedures beyond reviewing sensitivity analyses prepared by the company's specialist to evaluate the reasonableness of a significant assumption developed by the company's specialist (2) perform any procedures to evaluate the reasonableness of a significant assumption developed by the issuer (3) perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions because it limited its procedures to comparing these assumptions to historical and recent experience but did not evaluate the significant differences between the assumptions and the historical and recent experience (4) evaluate the relevance and reliability of certain external data the company's specialist used to develop these significant assumptions and (5) test the accuracy and completeness of the issuer-produced information used by the company's specialist and perform additional procedures or request the specialist perform additional procedures to address the issues. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 3 AS 2301 8 The issuer recorded an adjustment to long-lived assets but the firm did not perform any substantive procedures to test the adjustment. (AS 2301.08) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 3 AS 2301 8 The issuer capitalized expenditures for a long-lived asset. The firm selected certain additions for testing but did not perform any procedures to determine whether these additions qualified for capitalization including for one selection evaluating contradictory evidence in the work papers. (AS 2301.08; AS 2810.03) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 3 AS 2810 3 The issuer capitalized expenditures for a long-lived asset. The firm selected certain additions for testing but did not perform any procedures to determine whether these additions qualified for capitalization including for one selection evaluating contradictory evidence in the work papers. (AS 2301.08; AS 2810.03) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 To test revenue the firm selected a sample of transactions. The following deficiency was identified: · The firm did not perform any procedures to test or test any controls over the completeness of the issuer-prepared reports from which it selected transactions for testing. (AS 1105.10). Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 8 To test revenue the firm selected a sample of transactions. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate whether the issuer had satisfied its performance obligations prior to recognizing certain revenue because it limited its procedures to obtaining issuer-produced documents and/or cash receipts for a selection of transactions. (AS 2301.08 and .13) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 13 To test revenue the firm selected a sample of transactions. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate whether the issuer had satisfied its performance obligations prior to recognizing certain revenue because it limited its procedures to obtaining issuer-produced documents and/or cash receipts for a selection of transactions. (AS 2301.08 and .13) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 6 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue and Deferred Revenue Fraud Risk 1 AS 2301 8 The firm's substantive procedures to test revenue and deferred revenue included testing a selection of transactions. The firm did not perform procedures beyond obtaining issuer-produced information to test these revenue transactions. (AS 2301.08 and .13) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue and Deferred Revenue Fraud Risk 1 AS 2301 13 The firm's substantive procedures to test revenue and deferred revenue included testing a selection of transactions. The firm did not perform procedures beyond obtaining issuer-produced information to test these revenue transactions. (AS 2301.08 and .13) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue and Deferred Revenue Fraud Risk 2 AS 1105 10 The firm did not perform any procedures to test or test any controls over the completeness of the population of items from which it selected transactions for testing. (AS 1105.10). Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Securities 3 AS 2501 7 The issuer reported certain investment securities at fair value. The firm did not perform substantive procedures to test the fair value of these investments beyond comparing the recorded fair value to the record keepers' reports and inquiring of the record keepers. (AS 2501.07) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Securities 4 AS 2301 8 The firm did not perform any substantive procedures to evaluate the appropriateness of the issuer's categorization of these securities within the fair value hierarchy set forth in FASB ASC Topic 820 Fair Value Measurement. (AS 2301.08) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Certain Transactions 5 AS 2301 8 The firm did not perform substantive procedures to evaluate whether the issuer's presentation and disclosure of certain transactions was in conformity with FASB ASC Topic 205 Presentation of Financial Statements beyond obtaining and reading the issuer's analysis which did not support that the presentation and disclosure of these transactions was in conformity with FASB ASC Topic 205. (AS 2301.08) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 6 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Variable Interest Entities 1 AS 1105 A10 The issuer derives revenue through consolidated VIEs and relies on contractual arrangements with the VIEs and its shareholders to control the business operations of the consolidated VIEs. The issuer engaged an external specialist to provide a legal opinion regarding the issuer's consolidated VIEs including the validity and enforceability of contractual arrangements with the VIEs and its shareholders and the firm used the work of the company's specialist as audit evidence. The firm did not sufficiently evaluate the relevance and reliability of the work performed by the company's specialist and whether the specialist's findings support or contradict the issuer's rights and obligations related to the consolidation of the VIEs because it did not (1) evaluate that the legal opinion was approximately six months old (2) evaluate the nature of the limitations described in the legal opinion and (3) perform additional procedures to address these matters. (AS 1105.A9 and .A10) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Variable Interest Entities 1 AS 1105 A9 The issuer derives revenue through consolidated VIEs and relies on contractual arrangements with the VIEs and its shareholders to control the business operations of the consolidated VIEs. The issuer engaged an external specialist to provide a legal opinion regarding the issuer's consolidated VIEs including the validity and enforceability of contractual arrangements with the VIEs and its shareholders and the firm used the work of the company's specialist as audit evidence. The firm did not sufficiently evaluate the relevance and reliability of the work performed by the company's specialist and whether the specialist's findings support or contradict the issuer's rights and obligations related to the consolidation of the VIEs because it did not (1) evaluate that the legal opinion was approximately six months old (2) evaluate the nature of the limitations described in the legal opinion and (3) perform additional procedures to address these matters. (AS 1105.A9 and .A10) Triennially Inspected 5035 Shandong Haoxin Certified Public Accountants Co., Ltd 2024 China 2025-07-24T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 89 Rosenberg Rich Baker Berman, P.A. 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets 1 AS 2301 8 During the year the issuer made purchases and sales of certain intangible assets and recognized the related activity in its statements of operations and cash flows. The firm did not perform substantive procedures to test these purchases and sales beyond obtaining issuer-produced reports. (AS 2301.08) Triennially Inspected 89 Rosenberg Rich Baker Berman, P.A. 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Uncorrected Misstatements 2 AS 2810 17 The firm identified uncorrected misstatements in certain disclosures in the current year audit. The firm did not evaluate whether these uncorrected misstatements were material individually or in combination with other misstatements. (AS 2810.17) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 39 The firm selected for testing certain controls that included the review of revenue. The following deficiency was identified: · For certain revenue the firm did not identify and test any controls over the timing of the revenue recognition. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 10 The firm selected for testing certain controls that included the review of revenue. The following deficiency was identified: · For one control the firm did not perform procedures to test or test any controls over the completeness of the report from which it selected its sample for testing the control. (AS 1105.10). Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 39 The firm selected for testing certain controls that included the review of revenue. The following deficiency was identified: · For certain other controls the firm did not identify and test any controls over the accuracy and completeness of certain reports used in the operation of these controls. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2501 16 The following deficiency was identified with respect to the firm's substantive testing of revenue: · For certain revenue the firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions used by the issuer in its estimate of revenue recognition. (AS 2501.16) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 1105 10 The following deficiency was identified with respect to the firm's substantive testing of revenue: · For a certain revenue disclosure the firm did not perform procedures to test or test any controls over the accuracy and completeness of the system-generated report used by the firm to test the disclosure. (AS 1105.10) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 6 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) over certain of these IT systems the firm's testing of these automated and IT-dependent controls was not sufficient. (AS 2201.46) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 7 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm did not identify and test any controls over the approval of access for new employees to these IT systems. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 8 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm did not perform procedures to test or test any controls over the accuracy and completeness of certain system-generated reports used in the firm's testing of access for active and terminated employees to certain of the issuer's IT systems. (AS 1105.10) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 9 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a review control designed to ensure that access levels are appropriate. The firm did not evaluate the specific procedures performed by the control owners to evaluate whether access continued to be appropriate. (AS 2201.42 and .44) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 9 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a review control designed to ensure that access levels are appropriate. The firm did not evaluate the specific procedures performed by the control owners to evaluate whether access continued to be appropriate. (AS 2201.42 and .44) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 10 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: · The firm selected for testing a change management control over one of the IT systems. The firm did not perform procedures to test or test any controls over the completeness of the population of changes from which it made its selections to test this control. (AS 1105.10) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 11 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: · The firm selected for testing a change management control over one of the IT systems. The firm did not identify and test any controls over certain configuration changes to the system. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 12 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record long-lived assets and related transactions including certain systems maintained by external service organizations. In its testing of controls over long-lived assets the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: · The firm did not identify and test any change management controls over one of the other IT systems. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 13 AS 2201 42 The firm obtained service organization reports on internal controls related to certain of the issuer's IT systems. The firm did not sufficiently test the relevant complementary user entity controls given the deficiencies identified above in testing ITGCs. (AS 2201.42 .44 and .B22) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 13 AS 2201 44 The firm obtained service organization reports on internal controls related to certain of the issuer's IT systems. The firm did not sufficiently test the relevant complementary user entity controls given the deficiencies identified above in testing ITGCs. (AS 2201.42 .44 and .B22) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 13 AS 2201 B22 The firm obtained service organization reports on internal controls related to certain of the issuer's IT systems. The firm did not sufficiently test the relevant complementary user entity controls given the deficiencies identified above in testing ITGCs. (AS 2201.42 .44 and .B22) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 14 AS 2201 42 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over impairment testing the firm used the results of its substantive testing as evidence that this control was operating effectively. The firm's procedures did not provide sufficient appropriate audit evidence because the firm did not directly test the review procedures that the control owner performed. (AS 2201.42 .44 and .B9) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 14 AS 2201 44 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over impairment testing the firm used the results of its substantive testing as evidence that this control was operating effectively. The firm's procedures did not provide sufficient appropriate audit evidence because the firm did not directly test the review procedures that the control owner performed. (AS 2201.42 .44 and .B9) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 14 AS 2201 B9 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over impairment testing the firm used the results of its substantive testing as evidence that this control was operating effectively. The firm's procedures did not provide sufficient appropriate audit evidence because the firm did not directly test the review procedures that the control owner performed. (AS 2201.42 .44 and .B9) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 15 AS 2201 39 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of data used in the operation of the control. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 16 AS 2201 42 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over the allocation of purchase price for long-lived assets acquired as a group the firm used the results of its substantive audit procedures as evidence of the effectiveness of the control. The firm did not evaluate the specific review procedures performed by the control owner to evaluate the methods and assumptions used by the issuer-engaged specialist in the purchase price allocation. (AS 2201.42 .44 and .B9) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 16 AS 2201 44 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over the allocation of purchase price for long-lived assets acquired as a group the firm used the results of its substantive audit procedures as evidence of the effectiveness of the control. The firm did not evaluate the specific review procedures performed by the control owner to evaluate the methods and assumptions used by the issuer-engaged specialist in the purchase price allocation. (AS 2201.42 .44 and .B9) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 16 AS 2201 B9 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over the allocation of purchase price for long-lived assets acquired as a group the firm used the results of its substantive audit procedures as evidence of the effectiveness of the control. The firm did not evaluate the specific review procedures performed by the control owner to evaluate the methods and assumptions used by the issuer-engaged specialist in the purchase price allocation. (AS 2201.42 .44 and .B9) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 17 AS 2201 39 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of a certain issuer listing used in the operation of the control. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 18 AS 2201 42 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over useful lives the firm did not evaluate the specific review procedures that the control owner performed to evaluate the useful lives of the assets. (AS 2201.42 and .44) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 18 AS 2201 44 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over useful lives the firm did not evaluate the specific review procedures that the control owner performed to evaluate the useful lives of the assets. (AS 2201.42 and .44) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 19 AS 2201 39 The firm also selected for testing certain review controls over long-lived assets and related transactions. The following deficiency was identified: · For a control over asset-related disclosures in the financial statements the firm did not identify and test any controls over the accuracy of reports and schedules used in the operation of the control beyond testing one control over the useful life data discussed above. (AS 2201.39) Triennially Inspected 342 Pannell Kerr Forster of Texas, P.C. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 20 AS 2201 39 The firm did not identify and test any controls over the issuer's classification of certain long-lived assets. (AS 2201.39) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 42 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For two of the POS applications the firm did not perform any procedures to test these controls. (AS 2201.42 and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For two of the POS applications the firm did not perform any procedures to test these controls. (AS 2201.42 and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 42 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For the other POS applications the firm did not: · perform any procedures to test that the access to change the configuration was appropriately restricted; · identify and test the controls for all of the discount types that were applied to the issuer's sales transactions; and · perform sufficient procedures to determine that certain of the designated access levels were the only designations that allowed for approval of sales discounts because the procedures were limited to testing one level of access. (AS 2201.42 and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 44 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For the other POS applications the firm did not: · perform any procedures to test that the access to change the configuration was appropriately restricted; · identify and test the controls for all of the discount types that were applied to the issuer's sales transactions; and · perform sufficient procedures to determine that certain of the designated access levels were the only designations that allowed for approval of sales discounts because the procedures were limited to testing one level of access. (AS 2201.42 and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 47 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: · The firm performed certain dual-purpose testing for its substantive testing and its testing of the operating effectiveness of certain related controls: - The firm did not achieve the objectives of both the test of controls and the substantive test because the sampling unit and attributes tested were not the same. (AS 2301.47) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 16 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: · The firm performed certain dual-purpose testing for its substantive testing and its testing of the operating effectiveness of certain related controls: - The sample size the firm used was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not (1) take into account tolerable misstatement and the allowable risk of incorrect acceptance and (2) use the larger of the samples that would otherwise have been designed for the two separate purposes. (AS 2315.16 .19 .23 .23A and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 19 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: · The firm performed certain dual-purpose testing for its substantive testing and its testing of the operating effectiveness of certain related controls: - The sample size the firm used was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not (1) take into account tolerable misstatement and the allowable risk of incorrect acceptance and (2) use the larger of the samples that would otherwise have been designed for the two separate purposes. (AS 2315.16 .19 .23 .23A and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 23 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: • The firm performed certain dual-purpose testing for its substantive testing and its testing of the operating effectiveness of certain related controls: o The sample size the firm used was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not (1) take into account tolerable misstatement and the allowable risk of incorrect acceptance and (2) use the larger of the samples that would otherwise have been designed for the two separate purposes. (AS 2315.16 .19 .23 .23A and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 44 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: • The firm performed certain dual-purpose testing for its substantive testing and its testing of the operating effectiveness of certain related controls: o The sample size the firm used was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not (1) take into account tolerable misstatement and the allowable risk of incorrect acceptance and (2) use the larger of the samples that would otherwise have been designed for the two separate purposes. (AS 2315.16 .19 .23 .23A and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 23A The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: • The firm performed certain dual-purpose testing for its substantive testing and its testing of the operating effectiveness of certain related controls: o The sample size the firm used was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not (1) take into account tolerable misstatement and the allowable risk of incorrect acceptance and (2) use the larger of the samples that would otherwise have been designed for the two separate purposes. (AS 2315.16 .19 .23 .23A and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 8 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: • The firm selected a sample of restaurant sales transactions to perform a test of details; however the firm did not perform any procedures to test revenue recognition for certain of the sampled items. (AS 2301.08 and .13) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 13 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: • The firm selected a sample of restaurant sales transactions to perform a test of details; however the firm did not perform any procedures to test revenue recognition for certain of the sampled items. (AS 2301.08 and .13) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 1105 10 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. For restaurant sales the following deficiency was identified: • The firm did not perform procedures to test or test any controls over the accuracy and completeness of the lists and reports it used in selecting its samples and in performing its testing of restaurant sales. (AS 1105.10) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2305 13 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. The firm's primary substantive procedures to test franchise royalty revenue were analytical procedures. The following deficiency was identified: • The firm did not perform procedures to determine whether certain assumptions it used in developing its expectation for revenue were based on predictable relationships. (AS 2305.13 and .14) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2305 14 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. The firm's primary substantive procedures to test franchise royalty revenue were analytical procedures. The following deficiency was identified: • The firm did not perform procedures to determine whether certain assumptions it used in developing its expectation for revenue were based on predictable relationships. (AS 2305.13 and .14) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 8 AS 2305 17 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. The firm's primary substantive procedures to test franchise royalty revenue were analytical procedures. The following deficiency was identified: • The expectation the firm used was not sufficiently precise in identifying material misstatements because the firm did not sufficiently disaggregate the data it used in its procedure to address important factors such as the number of franchisees and differences between franchisee sales and company-owned sales. (AS 2305.17) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2810 30 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and 31) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2810 31 The issuer used multiple point-of-sale (POS) applications to initiate and process revenue transactions. The firm selected for testing two controls related to the automated calculation of sales discounts and the review of those discounts by designated individuals with certain access levels. The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and 31) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable Fraud Risk 10 AS 2201 39 The firm did not identify and test any controls over the issuer's accounts receivable. (AS 2201.39) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 11 AS 2201 42 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm selected for testing a control over the issuer's review of the fair value analyses associated with the acquired assets and assumed liabilities. For the control selected the firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the assumptions. (AS 2201.42 and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 11 AS 2201 44 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm selected for testing a control over the issuer's review of the fair value analyses associated with the acquired assets and assumed liabilities. For the control selected the firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the assumptions. (AS 2201.42 and .44) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 12 AS 2201 39 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not identify and test any controls over the prospective financial information developed by the issuer and used by the company's specialist to determine the fair value of certain intangible assets acquired. (AS 2201.39) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 13 AS 2301 8 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform any procedures to test the existence of the fixed assets acquired. (AS 2301.08 and .11) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 13 AS 2301 11 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform any procedures to test the existence of the fixed assets acquired. (AS 2301.08 and .11) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 14 AS 1105 A8c During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • For the valuation of fixed assets the firm did not perform sufficient procedures to evaluate whether the methods used by the company's specialist were appropriate. Specifically the firm did not evaluate whether the data and significant assumptions were appropriately applied under the applicable reporting framework. (AS 1105.A8c) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 15 AS 1105 A8b During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • For the valuation of certain intangible assets the firm did not perform procedures to test the financial projections including taking into account the issuer's intent and ability to carry out the projections used in determining the fair values beyond tracing the projections for certain years to issuer-prepared schedules or comparing them to certain historical financial statements. (AS 1105.A8b; AS 2501.16 and .17) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 15 AS 2501 16 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • For the valuation of certain intangible assets the firm did not perform procedures to test the financial projections including taking into account the issuer's intent and ability to carry out the projections used in determining the fair values beyond tracing the projections for certain years to issuer-prepared schedules or comparing them to certain historical financial statements. (AS 1105.A8b; AS 2501.16 and .17) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 15 AS 2501 17 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • For the valuation of certain intangible assets the firm did not perform procedures to test the financial projections including taking into account the issuer's intent and ability to carry out the projections used in determining the fair values beyond tracing the projections for certain years to issuer-prepared schedules or comparing them to certain historical financial statements. (AS 1105.A8b; AS 2501.16 and .17) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 16 AS 1105 A8a During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The company's specialists used certain external data in developing the assumptions used in the valuation of certain acquired intangible assets. The firm did not perform any procedures to evaluate the relevance and reliability of the data used. (AS 1105.A8a) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 17 AS 1105 A8b During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions used by the company's specialists in the valuation of certain acquired assets and assumed liabilities. (AS 1105.A8b) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 18 AS 1105 A8b During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the reasonableness of certain other significant assumptions developed by the company's specialists in the valuation of certain acquired assets and assumed liabilities because its procedures were limited to comparing the assumption to either (1) external data (without evaluating the relevance and reliability of the data as noted above) (2) the same assumption used to value another acquired asset or (3) issuer-prepared schedules. (AS 1105.A8b) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 19 AS 1105 4 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform any procedures to evaluate the relevance and reliability of certain data the firm used to evaluate the reasonableness of certain components of another significant assumption developed by the company's specialist in its valuation of certain acquired assets. (AS 1105.04 and .06) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 19 AS 1105 6 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform any procedures to evaluate the relevance and reliability of certain data the firm used to evaluate the reasonableness of certain components of another significant assumption developed by the company's specialist in its valuation of certain acquired assets. (AS 1105.04 and .06) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 20 AS 1105 A10 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the relevance and reliability of one of the company's specialists' work related to certain assumed liabilities because it did not evaluate the restriction the specialist placed on the intended users of the report and perform additional procedures to address the matter. (AS 1105.A9 and .A10) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 20 AS 1105 A9 During the year the issuer completed a business combination and engaged multiple specialists to determine the fair value of certain acquired assets including acquired intangible assets and certain assumed liabilities. The following deficiency was identified: • The firm did not perform sufficient procedures to evaluate the relevance and reliability of one of the company's specialists' work related to certain assumed liabilities because it did not evaluate the restriction the specialist placed on the intended users of the report and perform additional procedures to address the matter. (AS 1105.A9 and .A10) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 21 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure required by FASB ASC Topic 805 Business Combinations. (AS 2810.30 and 31) Triennially Inspected 494 Schechter Dokken Kanter Andrews & Selcer Ltd. 2024 United States 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 21 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure required by FASB ASC Topic 805 Business Combinations. (AS 2810.30 and 31) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 39 The issuer recognized revenue from multiple revenue streams. The following deficiency was identified: · The firm selected for testing a control over one revenue stream that consisted of the issuer's reconciliation of revenue data between the billing system and general ledger system. The firm did not identify and test any controls over the accuracy and completeness of the information used in the operation of this control. (AS 2201.39) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 44 The issuer recognized revenue from multiple revenue streams. The following deficiency was identified: · The firm selected for testing other controls over this revenue stream that consisted of the issuer's reconciliation of (1) revenue data between the general ledger system and one of its financial reporting systems and (2) revenue data among certain financial reporting systems. The firm did not sufficiently test the operating effectiveness of these controls because it did not evaluate how identified deficiencies in certain systems interface controls between these systems could impact the operating effectiveness of the revenue reconciliation controls. (AS 2201.44) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 42 The issuer recognized revenue from multiple revenue streams. The following deficiency was identified: · The firm selected for testing a control over another revenue stream that consisted of the issuer's (1) review of customer contracts in excess of a specified threshold and (2) determination as to whether the revenue from the selected contracts was recognized in conformity with the relevant accounting standard. The firm did not evaluate whether the threshold used in the control could effectively prevent or detect a material misstatement. (AS 2201.42) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2305 17 The issuer recognized revenue from multiple revenue streams. The following deficiency was identified: · The firm's substantive procedures to test certain revenue included performing substantive analytical procedures. The expectations the firm used were not sufficiently precise to identify differences that could be potential material misstatements individually or in the aggregate because the firm did not disaggregate the data used to develop the expectations to address important factors that have an effect on the recognition of the revenue. (AS 2305.17) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2301 8 The issuer recognized revenue from multiple revenue streams. The following deficiency was identified: · The firm did not perform substantive procedures to test certain other revenue beyond (1) examining customer invoices produced by the issuer for a sample of revenue transactions (2) verifying the mathematical accuracy of those invoices and reconciling the total invoiced amounts to the general ledger and (3) obtaining customer contracts for the selected revenue transactions and summarizing certain terms of those contracts. (AS 2301.08) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Inventory 1 AS 2301 8 The firm did not perform substantive procedures to (1) test the existence and cost of certain inventory and (2) evaluate whether inventory was recorded at the lower of cost or net realizable value. (AS 2301.08) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Inventory 2 AS 2501 7 The firm did not perform substantive procedures to evaluate the reasonableness of the allowance for slow moving inventory. (AS 2501.07) Triennially Inspected 1253 KPMG SA 2024 France KPMG International Cooperative 2025-06-26T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 61 The firm identified fraud criteria for purposes of identifying and selecting journal entries for testing and communicated to the principal auditor that its audit procedures would include an examination of all journal entries and other adjustments that met these criteria. In identifying and selecting journal entries that met the criteria the firm did not perform sufficient procedures to test those journal entries because it excluded certain journal entries from testing without having an appropriate rationale for their exclusion. (AS 2401.61) Triennially Inspected 1381 KAP Purwantono, Sungkoro & Surja 2024 Indonesia Ernst & Young Global Limited 2025-06-26T00:00:00 Part I.A A Yes ICFR audit only Audits with a single deficiency Certain Assets 1 AS 2201 42 The firm selected for testing a control over certain assets that consisted of the issuer's review of the assets including their presentation and disclosure in the financial statements. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of the presentation and disclosure of these assets. (AS 2201.42 and .44) Triennially Inspected 1381 KAP Purwantono, Sungkoro & Surja 2024 Indonesia Ernst & Young Global Limited 2025-06-26T00:00:00 Part I.A A Yes ICFR audit only Audits with a single deficiency Certain Assets 1 AS 2201 44 The firm selected for testing a control over certain assets that consisted of the issuer's review of the assets including their presentation and disclosure in the financial statements. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of the presentation and disclosure of these assets. (AS 2201.42 and .44) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2810 30 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2810 30 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2810 31 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 3 AS 2301 8 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 3 AS 2810 3 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 4 AS 2810 30 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 4 AS 2810 31 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Significant Risk 5 AS 2401 58 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account 1 AS 2301 8 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) Triennially Inspected 6235 Dylan Floyd Accounting & Consulting 2024 United States 2025-06-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 58 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) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 1 AS 2501 16 The firm's approach for substantively testing the reserve for excess and obsolete (E&O) inventory was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of a significant assumption the issuer used to develop the E&O reserve beyond reading an issuer-prepared memorandum. (AS 2501.16) Unrelated to our review the issuer reevaluated its accounting for its inventory and concluded that material misstatements existed that had not been previously identified. The issuer corrected these misstatements in a restatement of its financial statements in a subsequent filing. Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 2 AS 2510 11 The issuer performed cycle counts of the majority of its inventory. The firm did not perform sufficient substantive procedures to test this inventory because the firm did not evaluate the methodology and selection parameters used by the issuer or perform other procedures to determine whether the issuer's cycle-count procedures were sufficiently reliable to produce results substantially the same as those that would have been obtained by a count of all items each year. (AS 2510.11) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 1 AS 2201 39 The issuer determined its excess and obsolete (E&O) reserve for certain inventory based in part on a calculation of the amount of this inventory it expected to use to manufacture certain products. The firm did not identify and test any controls over this calculation. (AS 2201.39) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2301 16 The sample size the firm used in certain of its substantive procedures to test this E&O reserve was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2301 18 The sample size the firm used in certain of its substantive procedures to test this E&O reserve was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2301 37 The sample size the firm used in certain of its substantive procedures to test this E&O reserve was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2315 19 The sample size the firm used in certain of its substantive procedures to test this E&O reserve was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2315 23 The sample size the firm used in certain of its substantive procedures to test this E&O reserve was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2315 23A The sample size the firm used in certain of its substantive procedures to test this E&O reserve was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 3 AS 2501 16 The firm's approach for substantively testing the E&O reserve was to test the issuer's process. The firm did not sufficiently evaluate the reasonableness of certain significant assumptions the issuer used to develop the E&O reserve because the firm did not perform procedures beyond inquiring of management to evaluate certain significant differences between these assumptions and the issuer's recent experience. (AS 2501.16) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 4 AS 2301 8 The firm did not perform any substantive procedures to test the unit cost of certain categories of inventory. (AS 2301.08) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 5 AS 2310 28 The issuer held certain inventory at locations owned by external parties. The firm performed confirmation procedures to test the existence of this inventory but did not maintain control over the confirmation requests because the issuer sent the requests. (AS 2310.28) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 6 AS 2201 42 With respect to certain of the issuer's inventory disclosures the following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of its financial statement disclosures but did not test the aspect of the control that addressed the accuracy and completeness of the issuer-prepared schedules used to prepare these inventory disclosures. (AS 2201.42 and .44) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 6 AS 2201 44 With respect to certain of the issuer's inventory disclosures the following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of its financial statement disclosures but did not test the aspect of the control that addressed the accuracy and completeness of the issuer-prepared schedules used to prepare these inventory disclosures. (AS 2201.42 and .44) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 7 AS 1105 10 With respect to certain of the issuer's inventory disclosures the following deficiencies were identified: · The firm used these issuer-prepared schedules in its substantive testing of these inventory disclosures but did not test or sufficiently test controls over the accuracy and completeness of these schedules. (AS 1105.10) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 8 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of a significant assumption used to develop a reserve for certain customer discounts. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of this assumption. (AS 2201.42 and .44) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 8 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of a significant assumption used to develop a reserve for certain customer discounts. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of this assumption. (AS 2201.42 and .44) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 39 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The issuer assigned a loan risk rating to its commercial loans. The loan risk rating was an important input in estimating the ACL and determining whether a loan would be individually or collectively evaluated for impairment. The firm did not identify and test any controls over the assignment of the loan risk rating to a certain population of these loans. (AS 2201.39) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1201 C6 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not identify that the auditor-employed specialist did not evaluate the reasonableness of the significant assumptions that the issuer used to develop the quantitative and economic reserve components. (AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1201 C7 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not identify that the auditor-employed specialist did not evaluate the reasonableness of the significant assumptions that the issuer used to develop the quantitative and economic reserve components. (AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2501 16 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not identify that the auditor-employed specialist did not evaluate the reasonableness of the significant assumptions that the issuer used to develop the quantitative and economic reserve components. (AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2501 16 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The firm's approach for substantively testing the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not evaluate the reasonableness of the significant assumptions related to the qualitative factors that the issuer used to develop the qualitative reserve component. (AS 2501.16) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 4 AS 2501 10 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The firm did not sufficiently evaluate whether the methods the issuer used to develop the ACL were in conformity with the requirements of GAAP because it did not evaluate whether the issuer's economic reserve component was duplicative of a portion of the qualitative reserve component that also related to economic conditions. (AS 2501.10) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 5 AS 1105 4 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The firm did not evaluate the relevance of certain external data the issuer used in developing the economic reserve and the qualitative reserve. (AS 1105.04 and .06) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 5 AS 1105 6 The issuer's ACL included reserves for loans collectively evaluated for impairment and for loans individually evaluated for impairment. For loans that were collectively evaluated for impairment the issuer estimated quantitative qualitative and economic reserve components. The following deficiencies were identified: · The firm did not evaluate the relevance of certain external data the issuer used in developing the economic reserve and the qualitative reserve. (AS 1105.04 and .06) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 1 AS 1105 10 The firm used certain issuer-produced data in its substantive testing of one type of revenue and the related deferred revenue but did not test or test any controls over the accuracy of these data. (AS 1105.10) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The firm used certain issuer-produced data in its substantive testing of one type of revenue and the related deferred revenue but did not test or test any controls over the accuracy of these data. (AS 1105.10) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain required disclosures related to revenue under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to revenue and determined that certain disclosures were omitted. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these omissions in a subsequent filing. Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain required disclosures related to revenue under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to revenue and determined that certain disclosures were omitted. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these omissions in a subsequent filing. Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain required disclosures related to revenue under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to revenue and determined that certain disclosures were omitted. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these omissions in a subsequent filing. Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain required disclosures related to revenue under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to revenue and determined that certain disclosures were omitted. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these omissions in a subsequent filing. Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Payroll Expenses 3 AS 2305 16 The firm's substantive procedures to test payroll expenses included performing substantive analytical procedures. The firm used employee headcount information produced by a service organization to develop its expectations but did not evaluate the reliability of this information. (AS 2305.16) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2301 8 The firm's substantive procedures to test two types of revenue included selecting a sample of transactions for testing. The following deficiencies were identified: · For one of these revenue types the issuer recognized revenue for certain of these transactions based on labor hours recorded in the issuer's time system. The firm did not perform procedures to test the appropriateness of the labor hours allocated to these transactions. (AS 2301.08) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2301 8 The firm's substantive procedures to test two types of revenue included selecting a sample of transactions for testing. The following deficiencies were identified: · For both of these revenue types the firm did not evaluate whether the issuer was acting as a principal or as an agent for these transactions. (AS 2301.08) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue 3 AS 1105 10 The firm used various system-generated reports and issuer-prepared schedules in its substantive testing of certain of the issuer's revenue and related disclosures but did not test or test any controls over the accuracy and/or completeness of these reports and schedules. (AS 1105.10) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Pension Liabilities 4 AS 1105 A8a The issuer provided a company's specialist with certain demographic and employment data that were used to estimate the issuer's projected benefit obligation. The firm did not perform sufficient procedures to test the accuracy and completeness of these data because it (1) did not test the accuracy of certain important data attributes for the participants selected for testing and (2) limited its completeness procedures to testing whether certain participants were appropriately removed from the data. (AS 1105.A8a) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with a single deficiency Revenue 1 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiency below. The firm used issuer-prepared schedules in its substantive testing of certain revenue disclosures but did not perform procedures to test or test any controls over the accuracy and/or completeness of these schedules. (AS 1105.10) Annually Inspected 23 Baker Tilly US, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with a single deficiency Revenue 1 AS 2305 16 The firm's substantive procedures to test revenue included performing substantive analytical procedures. The firm used certain issuer-produced production volume data to develop its expectations but did not sufficiently test or test any controls over the accuracy and completeness of the production volume data because the firm's procedures were limited to comparing the production volume data to other issuer-produced data which were used to derive revenue. (AS 2305.16) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Liabilities 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of its earnout liability which is a provision for contingent payments. The firm did not evaluate the specific review procedures the control owners performed to assess the reasonableness of the method data and assumptions used in the valuation of the earnout liability. (AS 2201.42 and .44) Unrelated to our review the issuer reevaluated its controls over its earnout liability and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Liabilities 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of its earnout liability which is a provision for contingent payments. The firm did not evaluate the specific review procedures the control owners performed to assess the reasonableness of the method data and assumptions used in the valuation of the earnout liability. (AS 2201.42 and .44) Unrelated to our review the issuer reevaluated its controls over its earnout liability and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Liabilities 2 AS 2501 10 The firm's approach for substantively testing the fair value of the earnout liability was to test the issuer's process. The firm recalculated the issuer's estimate using a software audit tool. The firm did not perform sufficient substantive procedures to evaluate the method used by the issuer because it did not test the functionality of this tool. (AS 2501.10) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Liabilities 3 AS 1105 10 The firm did not test or sufficiently test controls over the accuracy of certain data that the issuer used to calculate the earnout liability. (AS 1105.10) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Segment Reporting 4 AS 2201 39 The firm did not identify and test any controls over segment reporting. (AS 2201.39) Unrelated to our review the issuer reevaluated its controls over segment reporting and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Segment Reporting 5 AS 2301 8 The firm did not perform substantive procedures to evaluate whether the issuer's determination of its reportable segments was in conformity with FASB ASC Topic 280 Segment Reporting beyond reading an issuer-prepared memorandum. (AS 2301.08) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 6 AS 2201 39 The firm selected for testing a control that consisted of the issuer's review of manual journal entries. The firm did not identify and test any controls over the completeness of a system-generated report used in the operation of this control. (AS 2201.39) Unrelated to our review the issuer reevaluated its controls over journal entries and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2501 7 The issuer recognized revenue from certain contracts over time by estimating its progress toward completion. The firm did not perform procedures to test this revenue beyond inspecting the contract and inquiring of project managers for a sample of contracts. (AS 2501.07) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain required disclosures under FASB ASC Topic 606 Revenue from Contracts with Customers related to the method used to recognize revenue for one type of revenue. (AS 2810.30 and .31) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain required disclosures under FASB ASC Topic 606 Revenue from Contracts with Customers related to the method used to recognize revenue for one type of revenue. (AS 2810.30 and .31) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 8 The firm did not perform any procedures to test the existence of certain inventory. (AS 2301.08) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2810 30 The firm did not identify and evaluate the issuer's omission of a required disclosure under FASB ASC Topic 210 Balance Sheet related to major classes of inventory. (AS 2810.30 and .31) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2810 31 The firm did not identify and evaluate the issuer's omission of a required disclosure under FASB ASC Topic 210 Balance Sheet related to major classes of inventory. (AS 2810.30 and .31) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 39 The issuer calculated a reserve for excess and obsolete inventory by applying established percentages to each inventory aging category. The following deficiencies were identified: · The firm selected for testing a control over the issuer's review of the reserve for excess and obsolete inventory. The firm did not identify and test any controls over the accuracy of certain data used in the operation of this control. (AS 2201.39) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 1105 10 The issuer calculated a reserve for excess and obsolete inventory by applying established percentages to each inventory aging category. The following deficiencies were identified: · The firm used these data in its substantive procedures but did not perform any procedures to test or test any controls over the accuracy of these data. (AS 1105.10) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 3 AS 2201 39 The firm selected for testing a control that included the issuer's review of journal entries related to inventory. The firm did not identify and test any controls over the accuracy and completeness of certain information used in the operation of this control. (AS 2201.39) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 4 AS 2301 8 The firm did not perform any substantive procedures to test certain adjustments the issuer made to its inventory. (AS 2301.08) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 5 AS 2201 39 The firm did not identify and test any controls related to the issuer's evaluation of long-lived assets for possible impairment. (AS 2201.39) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The issuer recognized certain revenue based on customer usage data which was produced by one of the issuer's information technology (IT) systems. The firm did not perform procedures to test these data beyond comparing these data to information derived from this IT system. (AS 2301.08 and .13) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The issuer recognized certain revenue based on customer usage data which was produced by one of the issuer's information technology (IT) systems. The firm did not perform procedures to test these data beyond comparing these data to information derived from this IT system. (AS 2301.08 and .13) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 61 To identify and select journal entries for testing the firm identified fraud characteristics. For certain of these fraud characteristics the firm did not perform any procedures to identify journal entries that had these characteristics. (AS 2401.61) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2301 8 The issuer recognized revenue from certain contracts over time using an input method based on the labor hours incurred or number of users. The firm did not perform substantive procedures to test whether the issuer satisfied its performance obligations before recognizing this revenue beyond comparing the number of users and labor hours incurred to issuer-produced reports. (AS 2301.08 and .13) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2301 13 The issuer recognized revenue from certain contracts over time using an input method based on the labor hours incurred or number of users. The firm did not perform substantive procedures to test whether the issuer satisfied its performance obligations before recognizing this revenue beyond comparing the number of users and labor hours incurred to issuer-produced reports. (AS 2301.08 and .13) Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with a single deficiency Business Combination 1 AS 2810 30 During the year the issuer acquired a business. The firm did not identify and evaluate the issuer's omission of certain required disclosures under FASB ASC Topic 805 Business Combinations related to the amounts of revenue and earnings of the acquired business since the acquisition date. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to this business combination and determined that certain disclosures were omitted. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these omissions in a subsequent filing. Annually Inspected 659 Moss Adams LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with a single deficiency Business Combination 1 AS 2810 31 During the year the issuer acquired a business. The firm did not identify and evaluate the issuer's omission of certain required disclosures under FASB ASC Topic 805 Business Combinations related to the amounts of revenue and earnings of the acquired business since the acquisition date. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to this business combination and determined that certain disclosures were omitted. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these omissions in a subsequent filing. Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 1 AS 2201 68 The firm selected for testing two controls over the issuer's determination of the ACL. The issuer used certain system-generated reports that it obtained from an application that was hosted by a service organization in the performance of these controls. The firm obtained the service auditor's report for this service organization and identified certain complementary user controls related to user access that the service auditor's report described as necessary. The firm identified control deficiencies in its testing of these complementary user controls and selected for testing a compensating control that consisted of the issuer's review of user access. The firm did not identify and test any controls over the accuracy and completeness of the user population used in the operation of this compensating control. (AS 2201.68) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 2 AS 2201 42 For loans that were collectively evaluated for impairment the issuer determined the qualitative reserve component of the ACL using certain qualitative factors. The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process. The following deficiencies were identified: · The firm tested one of the issuer's controls over the determination of the ACL during an interim period. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of certain significant assumptions related to the qualitative factors. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 2 AS 2201 44 For loans that were collectively evaluated for impairment the issuer determined the qualitative reserve component of the ACL using certain qualitative factors. The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process. The following deficiencies were identified: · The firm tested one of the issuer's controls over the determination of the ACL during an interim period. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of certain significant assumptions related to the qualitative factors. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 3 AS 2201 55 For loans that were collectively evaluated for impairment the issuer determined the qualitative reserve component of the ACL using certain qualitative factors. The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process. The following deficiencies were identified: · The firm tested one of the issuer's controls over the determination of the ACL during an interim period. The firm did not perform procedures to update the results of its testing from the interim date to year end. (AS 2201.55) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 4 AS 2501 16 For loans that were collectively evaluated for impairment the issuer determined the qualitative reserve component of the ACL using certain qualitative factors. The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process. The following deficiencies were identified: · The firm did not evaluate whether the issuer had a reasonable basis for certain significant assumptions related to the qualitative factors. (AS 2501.16) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 5 AS 2201 39 The firm did not identify and test any controls over the issuer's determination of the categorization of its available-for-sale (AFS) securities within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. (AS 2201.39) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 6 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of the fair values of a sample of AFS securities. The firm did not assess whether the extent and timing of the issuer's review was sufficient to address the risks of material misstatement. Further the firm did not evaluate whether the items identified for follow up by the control owner were appropriately resolved. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 6 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of the fair values of a sample of AFS securities. The firm did not assess whether the extent and timing of the issuer's review was sufficient to address the risks of material misstatement. Further the firm did not evaluate whether the items identified for follow up by the control owner were appropriately resolved. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 7 AS 2301 16 The sample size the firm used in its substantive procedures to test the fair values of these securities was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 7 AS 2301 18 The sample size the firm used in its substantive procedures to test the fair values of these securities was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 7 AS 2301 37 The sample size the firm used in its substantive procedures to test the fair values of these securities was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 7 AS 2315 19 The sample size the firm used in its substantive procedures to test the fair values of these securities was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 7 AS 2315 23 The sample size the firm used in its substantive procedures to test the fair values of these securities was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 7 AS 2315 23A The sample size the firm used in its substantive procedures to test the fair values of these securities was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's reviews of the ACL. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the assumptions used to develop the ACL. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's reviews of the ACL. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the assumptions used to develop the ACL. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2501 16 The issuer estimated the ACL using various significant assumptions. The firm did not evaluate whether the issuer had a reasonable basis for certain significant assumptions it used. (AS 2501.16) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 42 The firm selected for testing a control that included the issuer's reviews of certain assumptions used to estimate the quantitative component of the ACL. In evaluating the design of this control the firm did not evaluate whether a threshold that the control owner used to identify items for investigation was sufficiently precise to detect material misstatements. (AS 2201.42) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 42 The firm selected for testing a control that included the issuer's reviews of certain assumptions used to estimate the quantitative component of the ACL. In evaluating the design of this control the firm did not evaluate the specific review procedures that the control owner performed to evaluate the relevance of external information used in the operation of this control. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 44 The firm selected for testing a control that included the issuer's reviews of certain assumptions used to estimate the quantitative component of the ACL. In evaluating the design of this control the firm did not evaluate the specific review procedures that the control owner performed to evaluate the relevance of external information used in the operation of this control. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 1105 4 The firm did not perform sufficient substantive procedures to evaluate the reasonableness of certain significant assumptions the issuer used to estimate the ACL because the firm did not evaluate (1) whether the assumptions were consistent with other external factors including economic conditions and (2) the relevance of certain market information the issuer used. (AS 1105.04 and .06; AS 2501.16) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 1105 6 The firm did not perform sufficient substantive procedures to evaluate the reasonableness of certain significant assumptions the issuer used to estimate the ACL because the firm did not evaluate (1) whether the assumptions were consistent with other external factors including economic conditions and (2) the relevance of certain market information the issuer used. (AS 1105.04 and .06; AS 2501.16) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2501 16 The firm did not perform sufficient substantive procedures to evaluate the reasonableness of certain significant assumptions the issuer used to estimate the ACL because the firm did not evaluate (1) whether the assumptions were consistent with other external factors including economic conditions and (2) the relevance of certain market information the issuer used. (AS 1105.04 and .06; AS 2501.16) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Fraud Risk 1 AS 2201 39 During the year the issuer acquired a business. The following deficiencies were identified: · The firm did not identify and test any controls over certain assets acquired and liabilities assumed as of the acquisition date. (AS 2201.39) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Fraud Risk 2 AS 1105 A8a During the year the issuer acquired a business. The following deficiencies were identified: · The issuer engaged a specialist to determine the fair values of certain acquired assets as of the acquisition date. The firm did not perform procedures to test or test controls over the accuracy of certain issuer-produced data used by the company's specialist to determine the fair values of these assets. (AS 1105.A8a) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 55 The issuer assigned each loan a loan risk rating which was an important input in estimating the quantitative component of the ACL. The firm selected for testing a control that included the issuer's reviews of loan risk ratings and tested the control at an interim date. The firm did not perform procedures to update the results of its testing from the interim date to year end. (AS 2201.55) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Business Combination Significant Risk 2 AS 2201 42 During the year the issuer acquired a business. The firm selected for testing a control that included the issuer's review of the fair values of acquired assets and the related significant assumptions. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain of these significant assumptions. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Business Combination Significant Risk 2 AS 2201 44 During the year the issuer acquired a business. The firm selected for testing a control that included the issuer's review of the fair values of acquired assets and the related significant assumptions. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain of these significant assumptions. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Business Combination Significant Risk 3 AS 2201 39 During the year the issuer acquired a business. The firm selected for testing a control that included the issuer's review of the fair values of acquired assets and the related significant assumptions. The firm did not identify and test any controls over the accuracy and completeness of the data used in the operation of this control. (AS 2201.39) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Business Combination Significant Risk 4 AS 2201 42 The firm also selected for testing a control that included the issuer's review of the loan risk ratings assigned to the acquired loans. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these loan risk ratings. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Business Combination Significant Risk 4 AS 2201 44 The firm also selected for testing a control that included the issuer's review of the loan risk ratings assigned to the acquired loans. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these loan risk ratings. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Business Combination Significant Risk 5 AS 2201 39 The firm also selected for testing a control that included the issuer's review of the loan risk ratings assigned to the acquired loans. The firm did not identify and test any controls over the accuracy and completeness of the data used in the operation of this control. (AS 2201.39) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Business Combination Significant Risk 6 AS 2201 39 The firm did not identify and test any controls over the completeness and existence of the assets acquired and the liabilities assumed at the acquisition date. (AS 2201.39) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Notes Receivable Significant Risk 1 AS 1105 A8b The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer engaged specialists to assist the issuer in estimating the amount of certain notes receivable and collectability of these notes receivable at year-end using various significant assumptions. The firm's approach for testing these notes receivable was to review and test the issuer's process. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialists beyond comparing certain of these assumptions to assumptions used in a prior year. (AS 1105.A8b) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Notes Receivable Significant Risk 2 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer engaged specialists to assist the issuer in estimating the amount of certain notes receivable and collectability of these notes receivable at year-end using various significant assumptions. The firm's approach for testing these notes receivable was to review and test the issuer's process. The following deficiencies were identified: · The firm's approach for evaluating the reasonableness of another assumption was to develop an expectation of this assumption. The firm did not test or test any controls over the accuracy and completeness of the data produced by the issuer that the firm used to develop its expectation. (AS 1105.10) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Notes Receivable Significant Risk 3 AS 1105 A8a The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer engaged specialists to assist the issuer in estimating the amount of certain notes receivable and collectability of these notes receivable at year-end using various significant assumptions. The firm's approach for testing these notes receivable was to review and test the issuer's process. The following deficiencies were identified: · The firm used an auditor-employed specialist to evaluate another assumption the company's specialist used. The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of certain external information used by the company's specialist. (AS 1105.A8a; AS 1201.C6 and .C7) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Notes Receivable Significant Risk 3 AS 1201 C6 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer engaged specialists to assist the issuer in estimating the amount of certain notes receivable and collectability of these notes receivable at year-end using various significant assumptions. The firm's approach for testing these notes receivable was to review and test the issuer's process. The following deficiencies were identified: · The firm used an auditor-employed specialist to evaluate another assumption the company's specialist used. The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of certain external information used by the company's specialist. (AS 1105.A8a; AS 1201.C6 and .C7) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Notes Receivable Significant Risk 3 AS 1201 C7 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer engaged specialists to assist the issuer in estimating the amount of certain notes receivable and collectability of these notes receivable at year-end using various significant assumptions. The firm's approach for testing these notes receivable was to review and test the issuer's process. The following deficiencies were identified: · The firm used an auditor-employed specialist to evaluate another assumption the company's specialist used. The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of certain external information used by the company's specialist. (AS 1105.A8a; AS 1201.C6 and .C7) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Business Combination 1 AS 1105 4 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The firm capitalized transaction costs related to the business combination and the convertible note issuance. The firm did not (1) evaluate whether the issuer's capitalization of these costs was in conformity with FASB ASC Topic 805 Business Combinations and (2) evaluate the reliability of certain external information it used to test these costs. (AS 1105.04 and .06; AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Debt 1 AS 1105 4 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The firm capitalized transaction costs related to the business combination and the convertible note issuance. The firm did not (1) evaluate whether the issuer's capitalization of these costs was in conformity with FASB ASC Topic 805 Business Combinations and (2) evaluate the reliability of certain external information it used to test these costs. (AS 1105.04 and .06; AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Business Combination 1 AS 1105 6 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The firm capitalized transaction costs related to the business combination and the convertible note issuance. The firm did not (1) evaluate whether the issuer's capitalization of these costs was in conformity with FASB ASC Topic 805 Business Combinations and (2) evaluate the reliability of certain external information it used to test these costs. (AS 1105.04 and .06; AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Debt 1 AS 1105 6 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The firm capitalized transaction costs related to the business combination and the convertible note issuance. The firm did not (1) evaluate whether the issuer's capitalization of these costs was in conformity with FASB ASC Topic 805 Business Combinations and (2) evaluate the reliability of certain external information it used to test these costs. (AS 1105.04 and .06; AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Business Combination 1 AS 2301 8 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The firm capitalized transaction costs related to the business combination and the convertible note issuance. The firm did not (1) evaluate whether the issuer's capitalization of these costs was in conformity with FASB ASC Topic 805 Business Combinations and (2) evaluate the reliability of certain external information it used to test these costs. (AS 1105.04 and .06; AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Debt 1 AS 2301 8 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The firm capitalized transaction costs related to the business combination and the convertible note issuance. The firm did not (1) evaluate whether the issuer's capitalization of these costs was in conformity with FASB ASC Topic 805 Business Combinations and (2) evaluate the reliability of certain external information it used to test these costs. (AS 1105.04 and .06; AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Business Combination 2 AS 2301 8 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The convertible note included embedded features that required bifurcation in accordance with FASB ASC Topic 815 Derivatives and Hedging. The firm did not perform any procedures to determine the fair value of these embedded features beyond asserting the value was not material as the probability of occurrence of the associated contingent events was remote. (AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Debt 2 AS 2301 8 During the year the issuer completed a business combination and issued a convertible note. The following deficiencies were identified: · The convertible note included embedded features that required bifurcation in accordance with FASB ASC Topic 815 Derivatives and Hedging. The firm did not perform any procedures to determine the fair value of these embedded features beyond asserting the value was not material as the probability of occurrence of the associated contingent events was remote. (AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 8 The issuer tracked certain of its inventory in a system that was hosted by a service organization. The firm used information from this system in its testing of this inventory but did not perform any procedures to evaluate the reliability of this information. (AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2305 13 The firm's substantive procedures to test certain inventory included performing substantive analytical procedures. The firm did not determine whether the expectations it used in these substantive analytical procedures were based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2305 14 The firm's substantive procedures to test certain inventory included performing substantive analytical procedures. The firm did not determine whether the expectations it used in these substantive analytical procedures were based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 1 AS 2310 31 For certain accounts receivable the firm sent positive confirmation requests to the issuer's customers and received no responses. The firm did not perform alternative procedures that provided sufficient appropriate audit evidence that these balances represented valid receivable balances as of the confirmation date. (AS 2310.31) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 2 AS 2301 8 For certain accounts receivable the firm sent positive confirmation requests to the issuer's customers and received no responses. The firm did not perform alternative procedures that provided sufficient appropriate audit evidence that these balances represented valid receivable balances as of the confirmation date. (AS 2310.31) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 2 AS 2301 13 For certain accounts receivable the firm sent positive confirmation requests to the issuer's customers and received no responses. The firm did not perform alternative procedures that provided sufficient appropriate audit evidence that these balances represented valid receivable balances as of the confirmation date. (AS 2310.31) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2510 12 The firm's substantive procedures to test certain unbilled receivables included selecting a sample of customer balances for testing. The firm did not perform procedures to determine whether the performance obligation had been satisfied when revenue was recognized. (AS 2301.08 and .13) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2301 8 The firm did not perform procedures beyond inquiry to test the amounts relieved from inventory and recorded in cost of goods sold. (AS 2301.08) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of the calculation of gross premiums earned and unearned premiums. The control owner utilized system queries in performing its review. The firm's testing of this control was not sufficient because its procedures were limited to inquiring of the control owner and reviewing query parameters for reasonableness. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Unearned Premiums Fraud Risk 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of the calculation of gross premiums earned and unearned premiums. The control owner utilized system queries in performing its review. The firm's testing of this control was not sufficient because its procedures were limited to inquiring of the control owner and reviewing query parameters for reasonableness. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of the calculation of gross premiums earned and unearned premiums. The control owner utilized system queries in performing its review. The firm's testing of this control was not sufficient because its procedures were limited to inquiring of the control owner and reviewing query parameters for reasonableness. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Unearned Premiums Fraud Risk 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of the calculation of gross premiums earned and unearned premiums. The control owner utilized system queries in performing its review. The firm's testing of this control was not sufficient because its procedures were limited to inquiring of the control owner and reviewing query parameters for reasonableness. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 2201 39 The firm did not identify and test any controls that addressed the risk that revenue was recognized from policies with premiums that were deemed uncollectible. (AS 2201.39) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Unearned Premiums Fraud Risk 2 AS 2201 39 The firm did not identify and test any controls that addressed the risk that revenue was recognized from policies with premiums that were deemed uncollectible. (AS 2201.39) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Insurance Reserves Fraud Risk 3 AS 2201 42 The firm selected for testing a control that included the transfer of certain insurance reserve data from one system to another system. The firm did not test the accuracy and completeness of the transfer of these data. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Insurance Reserves Fraud Risk 3 AS 2201 44 The firm selected for testing a control that included the transfer of certain insurance reserve data from one system to another system. The firm did not test the accuracy and completeness of the transfer of these data. (AS 2201.42 and .44) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2305 16 The firm's substantive procedures to test revenue consisted of performing substantive analytical procedures and for certain revenue tests of details. The following deficiencies were identified: · The firm used certain data in its substantive analytical procedures but did not test or test any controls over the accuracy and completeness of these data. (AS 2305.16) Annually Inspected 686 Forvis Mazars, LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 1105 10 The firm's substantive procedures to test revenue consisted of performing substantive analytical procedures and for certain revenue tests of details. The following deficiencies were identified: · The firm's tests of details for certain revenue included recalculating revenue for a sample of revenue transactions. The firm did not perform procedures to test or test controls over the accuracy and completeness of certain issuer-produced information it used to recalculate this revenue. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 1 AS 2301 8 The firm performed independent test counts of inventory after year end. The following deficiencies were identified: · The firm did not compare the inventory listing it used to perform its substantive procedures to the recorded balance. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 2 AS 2510 12 The firm performed independent test counts of inventory after year end. The following deficiencies were identified: · The firm did not apply tests of intervening transactions in inventory between year end and the date of its test counts. (AS 2510.12) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 8 The firm's substantive procedures to test the unit cost of inventory consisted of (1) selecting a sample of raw materials for testing and (2) testing the issuer's process for allocating labor and overhead costs to inventory. The following deficiencies were identified: · The firm did not perform sufficient procedures to test the raw materials cost because its procedures were limited to comparing the recorded cost to supporting documentation for the most recent purchase. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 1105 10 The firm's substantive procedures to test the unit cost of inventory consisted of (1) selecting a sample of raw materials for testing and (2) testing the issuer's process for allocating labor and overhead costs to inventory. The following deficiencies were identified: · The firm did not perform procedures to test or test controls over the accuracy and completeness of certain issuer-produced information that it used in its testing of the allocated labor and overhead costs. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 5 AS 2501 16 The firm's substantive procedures to test the unit cost of inventory consisted of (1) selecting a sample of raw materials for testing and (2) testing the issuer's process for allocating labor and overhead costs to inventory. The following deficiencies were identified: · The firm did not perform procedures beyond inquiring of management to evaluate the reasonableness of certain significant assumptions used by the issuer to allocate overhead costs. (AS 2501.16) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2301 8 The firm's substantive procedures to test the unit cost of inventory consisted of (1) selecting a sample of raw materials for testing and (2) testing the issuer's process for allocating labor and overhead costs to inventory. The following deficiencies were identified: · The firm did not perform any procedures to evaluate whether inventory was recorded at the lower of cost or net realizable value. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 2501 7 The firm did not perform any substantive procedures to test the issuer's reserve for excess and obsolete inventory. (AS 2501.07) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 8 AS 1105 10 The firm's substantive procedures to test revenue included selecting samples of transactions for testing. The following deficiencies were identified: · The firm did not perform procedures to test or test controls over the completeness of the populations it used to make its selections. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 8 The firm's substantive procedures to test revenue included selecting samples of transactions for testing. The following deficiencies were identified: · The issuer recognized certain of this revenue upon (1) delivery and customer acceptance of products or (2) completion of its services. For certain selections the firm did not perform procedures to test whether (1) the customer had accepted the products or (2) the issuer had completed its services. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 13 The firm's substantive procedures to test revenue included selecting samples of transactions for testing. The following deficiencies were identified: · The issuer recognized certain of this revenue upon (1) delivery and customer acceptance of products or (2) completion of its services. For certain selections the firm did not perform procedures to test whether (1) the customer had accepted the products or (2) the issuer had completed its services. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 10 AS 1201 C6 During the year the issuer entered into a merger agreement which included provisions for contingent payments to the sellers upon the satisfaction of certain criteria. The following deficiencies were identified: · The firm's approach to substantively test the fair value of one of these provisions consisted of developing an independent expectation using an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for a significant assumption it developed. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 10 AS 1201 C7 During the year the issuer entered into a merger agreement which included provisions for contingent payments to the sellers upon the satisfaction of certain criteria. The following deficiencies were identified: · The firm's approach to substantively test the fair value of one of these provisions consisted of developing an independent expectation using an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for a significant assumption it developed. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 10 AS 2501 22 During the year the issuer entered into a merger agreement which included provisions for contingent payments to the sellers upon the satisfaction of certain criteria. The following deficiencies were identified: · The firm's approach to substantively test the fair value of one of these provisions consisted of developing an independent expectation using an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for a significant assumption it developed. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 11 AS 2301 8 During the year the issuer entered into a merger agreement which included provisions for contingent payments to the sellers upon the satisfaction of certain criteria. The following deficiencies were identified: · The firm did not perform any other procedures to evaluate the issuer's accounting for and presentation and disclosure of this provision. (AS 2301.08 and .11) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 11 AS 2301 11 During the year the issuer entered into a merger agreement which included provisions for contingent payments to the sellers upon the satisfaction of certain criteria. The following deficiencies were identified: · The firm did not perform any other procedures to evaluate the issuer's accounting for and presentation and disclosure of this provision. (AS 2301.08 and .11) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 12 AS 2810 30 During the year the issuer entered into a merger agreement which included provisions for contingent payments to the sellers upon the satisfaction of certain criteria. The following deficiencies were identified: · For another provision the firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 718 Compensation—Stock Compensation related to the nature and terms of the provision and the potential effects of the provision on shareholders. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 12 AS 2810 31 During the year the issuer entered into a merger agreement which included provisions for contingent payments to the sellers upon the satisfaction of certain criteria. The following deficiencies were identified: · For another provision the firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 718 Compensation—Stock Compensation related to the nature and terms of the provision and the potential effects of the provision on shareholders. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The issuer recognized revenue from certain arrangements as single performance obligations satisfied at a point in time. The firm selected a sample of these revenue transactions for testing. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers because it did not evaluate (1) the issuer's identification of the customers in these arrangements and (2) whether the issuer was acting as a principal or as an agent. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The issuer recognized revenue from certain arrangements as single performance obligations satisfied at a point in time. The firm selected a sample of these revenue transactions for testing. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate whether the issuer recognized revenue in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers because it did not evaluate (1) the issuer's identification of the customers in these arrangements and (2) whether the issuer was acting as a principal or as an agent. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The issuer recognized revenue from certain arrangements as single performance obligations satisfied at a point in time. The firm selected a sample of these revenue transactions for testing. The following deficiencies were identified: · The firm did not perform procedures to test whether the performance obligations had been satisfied before revenue was recognized beyond comparing the transactions selected for testing to an issuer-produced report. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The issuer recognized revenue from certain arrangements as single performance obligations satisfied at a point in time. The firm selected a sample of these revenue transactions for testing. The following deficiencies were identified: · The firm did not perform procedures to test whether the performance obligations had been satisfied before revenue was recognized beyond comparing the transactions selected for testing to an issuer-produced report. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 The firm did not sufficiently evaluate whether the issuer's accounting for certain other transactions as revenue was appropriate because it did not evaluate whether one or more of the scope exceptions under FASB ASC Topic 606 were applicable. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 13 The firm did not sufficiently evaluate whether the issuer's accounting for certain other transactions as revenue was appropriate because it did not evaluate whether one or more of the scope exceptions under FASB ASC Topic 606 were applicable. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 1201 C6 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment. The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not evaluate whether the auditor-employed specialist's independent expectation of the fair value as a range encompassed only reasonable outcomes and was supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 1201 C7 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment. The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not evaluate whether the auditor-employed specialist's independent expectation of the fair value as a range encompassed only reasonable outcomes and was supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2501 25 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment. The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not evaluate whether the auditor-employed specialist's independent expectation of the fair value as a range encompassed only reasonable outcomes and was supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1105 4 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment. The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1105 6 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment. The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1201 C6 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment. The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1201 C7 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment. The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 6 AS 1105 A8b The issuer engaged a specialist to perform an assessment of an intangible asset for possible impairment. The firm's approach to substantively test this assessment was to test the issuer's process with the assistance of an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 6 AS 1201 C6 The issuer engaged a specialist to perform an assessment of an intangible asset for possible impairment. The firm's approach to substantively test this assessment was to test the issuer's process with the assistance of an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 6 AS 1201 C7 The issuer engaged a specialist to perform an assessment of an intangible asset for possible impairment. The firm's approach to substantively test this assessment was to test the issuer's process with the assistance of an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Income Taxes 7 AS 2501 16 The issuer recorded a partial valuation allowance against its recorded deferred tax assets based on forecasted taxable income which included significant assumptions developed by the issuer that were also used in the issuer's intangible asset impairment assessment discussed above. The firm did not sufficiently evaluate the reasonableness of these significant assumptions including taking into account the issuer's intent and ability to carry out these assumptions because its procedures were limited to inquiring of management and comparing these assumptions to historical financial information and written plans. Further the firm did not evaluate certain significant differences between the issuer's historical experience and these assumptions. (AS 2501.16 and .17) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 7 AS 2501 16 The issuer recorded a partial valuation allowance against its recorded deferred tax assets based on forecasted taxable income which included significant assumptions developed by the issuer that were also used in the issuer's intangible asset impairment assessment discussed above. The firm did not sufficiently evaluate the reasonableness of these significant assumptions including taking into account the issuer's intent and ability to carry out these assumptions because its procedures were limited to inquiring of management and comparing these assumptions to historical financial information and written plans. Further the firm did not evaluate certain significant differences between the issuer's historical experience and these assumptions. (AS 2501.16 and .17) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Income Taxes 7 AS 2501 17 The issuer recorded a partial valuation allowance against its recorded deferred tax assets based on forecasted taxable income which included significant assumptions developed by the issuer that were also used in the issuer's intangible asset impairment assessment discussed above. The firm did not sufficiently evaluate the reasonableness of these significant assumptions including taking into account the issuer's intent and ability to carry out these assumptions because its procedures were limited to inquiring of management and comparing these assumptions to historical financial information and written plans. Further the firm did not evaluate certain significant differences between the issuer's historical experience and these assumptions. (AS 2501.16 and .17) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 7 AS 2501 17 The issuer recorded a partial valuation allowance against its recorded deferred tax assets based on forecasted taxable income which included significant assumptions developed by the issuer that were also used in the issuer's intangible asset impairment assessment discussed above. The firm did not sufficiently evaluate the reasonableness of these significant assumptions including taking into account the issuer's intent and ability to carry out these assumptions because its procedures were limited to inquiring of management and comparing these assumptions to historical financial information and written plans. Further the firm did not evaluate certain significant differences between the issuer's historical experience and these assumptions. (AS 2501.16 and .17) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Income Taxes 8 AS 2301 8 The firm did not perform procedures to test the issuer's income tax provision and deferred tax accounts because its procedures were limited to inquiring of management and comparing forecasted taxable income to historical financial information and written plans. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The issuer recorded certain revenue based on transactions that occurred on applications maintained by external parties. The following deficiencies were identified: · For two types of revenue the firm did not perform substantive procedures to evaluate whether the performance obligations had been satisfied before revenue was recognized. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The issuer recorded certain revenue based on transactions that occurred on applications maintained by external parties. The following deficiencies were identified: · For two types of revenue the firm did not perform substantive procedures to evaluate whether the performance obligations had been satisfied before revenue was recognized. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2310 26 The issuer recorded certain revenue based on transactions that occurred on applications maintained by external parties. The following deficiencies were identified: · To test a third type of revenue the firm sent positive confirmation requests to the external parties that maintained the applications. The firm's confirmation procedures were not sufficient because the firm did not consider whether the external parties would have the information necessary to confirm that the issuer's performance obligations had been satisfied. (AS 2310.26) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2310 31 The issuer recorded certain revenue based on transactions that occurred on applications maintained by external parties. The following deficiencies were identified: · To test a third type of revenue the firm sent positive confirmation requests to the external parties that maintained the applications. For the items for which the requested confirmations were not returned the firm did not perform alternative procedures that provided sufficient appropriate audit evidence that the recorded amounts of revenue were accurate as of the confirmation date. (AS 2310.31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 1105 10 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · The firm did not perform procedures to test or test controls over the accuracy and completeness of (1) historical financial information the firm used in evaluating the reasonableness of the significant assumptions related to forecasted cash flows and (2) the carrying value of certain asset groups. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 4 AS 1105 10 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · The firm did not perform procedures to test or test controls over the accuracy and completeness of (1) historical financial information the firm used in evaluating the reasonableness of the significant assumptions related to forecasted cash flows and (2) the carrying value of certain asset groups. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1105 A8b The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill the firm did not (1) perform any procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist or (2) identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a component of another significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 5 AS 1105 A8b The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill the firm did not (1) perform any procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist or (2) identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a component of another significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1201 C6 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill the firm did not (1) perform any procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist or (2) identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a component of another significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 5 AS 1201 C6 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill the firm did not (1) perform any procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist or (2) identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a component of another significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 5 AS 1201 C7 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill the firm did not (1) perform any procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist or (2) identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a component of another significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 5 AS 1201 C7 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill the firm did not (1) perform any procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist or (2) identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of a component of another significant assumption developed by the company's specialist. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 6 AS 2501 16 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill for one reporting unit the firm did not sufficiently evaluate the reasonableness of significant assumptions developed by the issuer related to forecasted cash flows because its procedures were limited to (1) comparing the assumptions for one forecasted period to historical experience and (2) reviewing new revenue contracts that represented a small percentage of forecasted revenue. (AS 2501.16) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 6 AS 2501 16 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of intangible assets and goodwill for one reporting unit the firm did not sufficiently evaluate the reasonableness of significant assumptions developed by the issuer related to forecasted cash flows because its procedures were limited to (1) comparing the assumptions for one forecasted period to historical experience and (2) reviewing new revenue contracts that represented a small percentage of forecasted revenue. (AS 2501.16) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 7 AS 1105 4 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of certain intangible assets and goodwill for another reporting unit the firm did not evaluate the relevance and reliability of certain industry information it used in evaluating the reasonableness of the significant assumptions related to forecasted cash flows. (AS 1105.04 and .06) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 7 AS 1105 4 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of certain intangible assets and goodwill for another reporting unit the firm did not evaluate the relevance and reliability of certain industry information it used in evaluating the reasonableness of the significant assumptions related to forecasted cash flows. (AS 1105.04 and .06) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 7 AS 1105 6 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of certain intangible assets and goodwill for another reporting unit the firm did not evaluate the relevance and reliability of certain industry information it used in evaluating the reasonableness of the significant assumptions related to forecasted cash flows. (AS 1105.04 and .06) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Intangible Asset Significant Risk 7 AS 1105 6 The issuer engaged a specialist to perform assessments of goodwill and intangible assets for possible impairment using various significant assumptions including assumptions related to forecasted cash flows. The firm's approach to evaluate these impairment assessments was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · For the assessments of certain intangible assets and goodwill for another reporting unit the firm did not evaluate the relevance and reliability of certain industry information it used in evaluating the reasonableness of the significant assumptions related to forecasted cash flows. (AS 1105.04 and .06) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Financial Statement Presentation 8 AS 2301 8 During the year the issuer disposed of two business units. The firm did not perform sufficient procedures to evaluate whether these business units should have been reported as discontinued operations in conformity with FASB ASC Topic 205 Presentation of Financial Statements because it did not consider certain information in evaluating whether the discontinued operations represented a strategic shift. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 46 The issuer used multiple service organizations to host and/or maintain an information-technology (IT) system that the issuer used to initiate process and record transactions related to revenue and related accounts inventory and long-lived assets at certain business units. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. As a result of the deficiencies in the firm's testing of IT general controls (ITGCs) discussed below the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 46 The issuer used multiple service organizations to host and/or maintain an information-technology (IT) system that the issuer used to initiate process and record transactions related to revenue and related accounts inventory and long-lived assets at certain business units. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. As a result of the deficiencies in the firm's testing of IT general controls (ITGCs) discussed below the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 1 AS 2201 46 The issuer used multiple service organizations to host and/or maintain an information-technology (IT) system that the issuer used to initiate process and record transactions related to revenue and related accounts inventory and long-lived assets at certain business units. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. As a result of the deficiencies in the firm's testing of IT general controls (ITGCs) discussed below the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 42 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 2201 42 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 2 AS 2201 42 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 44 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 2201 44 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 2 AS 2201 44 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 B22 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 2201 B22 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 2 AS 2201 B22 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing complementary user controls over the issuer's granting and monitoring of user access to this system but did not evaluate the specific review procedures that the control owners performed to determine whether to grant access to users or whether access that had been previously approved continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 3 AS 1105 10 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing a complementary user control over change management. The firm did not perform sufficient procedures to test or test controls over the completeness of the population of changes that the firm used in its testing of this control because it did not evaluate whether the system was configured to track all changes made to the production environment. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 3 AS 1105 10 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing a complementary user control over change management. The firm did not perform sufficient procedures to test or test controls over the completeness of the population of changes that the firm used in its testing of this control because it did not evaluate whether the system was configured to track all changes made to the production environment. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 3 AS 1105 10 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm selected for testing a complementary user control over change management. The firm did not perform sufficient procedures to test or test controls over the completeness of the population of changes that the firm used in its testing of this control because it did not evaluate whether the system was configured to track all changes made to the production environment. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 4 AS 2201 39 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented certain other complementary user controls. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 4 AS 2201 39 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented certain other complementary user controls. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 4 AS 2201 39 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented certain other complementary user controls. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 4 AS 2201 B22 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented certain other complementary user controls. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 4 AS 2201 B22 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented certain other complementary user controls. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 4 AS 2201 B22 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented certain other complementary user controls. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 5 AS 2201 39 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not obtain an understanding of or test any relevant controls at certain sub-service organizations. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 5 AS 2201 39 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not obtain an understanding of or test any relevant controls at certain sub-service organizations. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 5 AS 2201 39 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not obtain an understanding of or test any relevant controls at certain sub-service organizations. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 5 AS 2201 B19 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not obtain an understanding of or test any relevant controls at certain sub-service organizations. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 5 AS 2201 B19 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not obtain an understanding of or test any relevant controls at certain sub-service organizations. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts 5 AS 2201 B19 The firm obtained the service auditor's reports for these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. These service organizations used sub-service organizations for certain functions. The following deficiencies were identified: · The firm did not obtain an understanding of or test any relevant controls at certain sub-service organizations. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2201 39 For revenue at three business units which was affected by the ITGC audit deficiencies discussed above the firm selected for testing various controls that addressed the recognition of revenue when performance obligations were satisfied. The firm did not identify and test any controls over the accuracy and completeness of certain information used in the operation of these controls. (AS 2201.39) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 7 AS 2201 42 For inventory at two business units which was affected by the ITGC audit deficiencies discussed above the following additional deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's performance of physical inventory counts. The firm did not test the aspects of these controls that addressed whether an accurate and complete count had occurred. (AS 2201.42 and .44) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 7 AS 2201 44 For inventory at two business units which was affected by the ITGC audit deficiencies discussed above the following additional deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's performance of physical inventory counts. The firm did not test the aspects of these controls that addressed whether an accurate and complete count had occurred. (AS 2201.42 and .44) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 8 AS 2301 8 For inventory at two business units which was affected by the ITGC audit deficiencies discussed above the following additional deficiencies were identified: · The firm did not perform any procedures to evaluate the issuer's classification of certain items as inventory. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 9 AS 2201 39 For long-lived assets at one business unit which was affected by the ITGC audit deficiencies discussed above the following additional deficiencies were identified: · The firm did not identify and test any controls related to the issuer's evaluation of long-lived assets for possible impairment. (AS 2201.39) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 10 AS 2301 8 For long-lived assets at one business unit which was affected by the ITGC audit deficiencies discussed above the following additional deficiencies were identified: · The firm did not perform any substantive procedures to test long-lived assets for possible impairment. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts 1 AS 2810 30 The issuer recognized revenue from certain contracts related to the development and sale of real estate. In conjunction with these contracts the issuer received deposits from customers that were recorded as deferred revenue. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 606 related to unsatisfied (or partially unsatisfied) performance obligations and when the issuer expects to recognize this revenue. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts 1 AS 2810 31 The issuer recognized revenue from certain contracts related to the development and sale of real estate. In conjunction with these contracts the issuer received deposits from customers that were recorded as deferred revenue. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 606 related to unsatisfied (or partially unsatisfied) performance obligations and when the issuer expects to recognize this revenue. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts 2 AS 2301 8 The issuer recognized revenue from certain contracts related to the development and sale of real estate. In conjunction with these contracts the issuer received deposits from customers that were recorded as deferred revenue. The following deficiencies were identified: · The firm did not evaluate the appropriateness of the issuer's classification of deferred revenue associated with these contracts as a current liability. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 3 AS 2401 67 During the year the issuer recorded a credit loss associated with amounts owed by a related party. The firm did not evaluate whether the business purpose (or the lack thereof) of this transaction indicated that it may have been entered into to engage in fraudulent financial reporting or conceal misappropriation of assets given certain facts regarding this transaction. (AS 2401.67; AS 2410.11) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 3 AS 2410 11 During the year the issuer recorded a credit loss associated with amounts owed by a related party. The firm did not evaluate whether the business purpose (or the lack thereof) of this transaction indicated that it may have been entered into to engage in fraudulent financial reporting or conceal misappropriation of assets given certain facts regarding this transaction. (AS 2401.67; AS 2410.11) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 4 AS 2301 8 The firm did not perform any substantive procedures to test certain long-lived assets for possible impairment. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 1105 A8b During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In testing the issuer's process the firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialists. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 1201 C6 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In testing the issuer's process the firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialists. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 1201 C7 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In testing the issuer's process the firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialists. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 2 AS 1105 A8a During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In testing the issuer's process the firm did not perform procedures to test the accuracy of certain issuer-produced data that the company's specialists used to develop the fair values of these assets. (AS 1105.A8a) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 1201 C6 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In developing its independent expectations the firm did not identify that the work of the auditor-employed specialist did not provide sufficient appropriate audit evidence because it did not evaluate whether the independent expectations of the fair values as a range encompassed only reasonable outcomes and were supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 1201 C7 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In developing its independent expectations the firm did not identify that the work of the auditor-employed specialist did not provide sufficient appropriate audit evidence because it did not evaluate whether the independent expectations of the fair values as a range encompassed only reasonable outcomes and were supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 2501 25 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In developing its independent expectations the firm did not identify that the work of the auditor-employed specialist did not provide sufficient appropriate audit evidence because it did not evaluate whether the independent expectations of the fair values as a range encompassed only reasonable outcomes and were supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1105 4 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In developing its independent expectations the firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of certain external data that it used to develop its independent expectations. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1105 6 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In developing its independent expectations the firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of certain external data that it used to develop its independent expectations. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1201 C6 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In developing its independent expectations the firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of certain external data that it used to develop its independent expectations. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 4 AS 1201 C7 During the year the issuer acquired multiple businesses and engaged specialists to determine the fair values of certain acquired assets using various assumptions. For these business combinations the firm's approach to substantively test the fair values of certain of these acquired assets consisted of (1) testing the issuer's process and (2) developing independent expectations of the fair values as a range and the firm used an auditor-employed specialist in each approach. The following deficiencies were identified: · In developing its independent expectations the firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of certain external data that it used to develop its independent expectations. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 5 AS 1105 A8b For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not sufficiently evaluate the reasonableness of a significant assumption developed by the company's specialist because the auditor-employed specialist did not perform any procedures to evaluate the reasonableness of a component of this assumption. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 5 AS 1201 C6 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not sufficiently evaluate the reasonableness of a significant assumption developed by the company's specialist because the auditor-employed specialist did not perform any procedures to evaluate the reasonableness of a component of this assumption. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 5 AS 1201 C7 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not sufficiently evaluate the reasonableness of a significant assumption developed by the company's specialist because the auditor-employed specialist did not perform any procedures to evaluate the reasonableness of a component of this assumption. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 6 AS 1105 4 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of (1) external data that the company's specialist used to develop a significant assumption and (2) other external data that the auditor-employed specialist used to evaluate the reasonableness of other significant assumptions. (AS 1105.04 .06 and .A8a; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 6 AS 1105 6 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of (1) external data that the company's specialist used to develop a significant assumption and (2) other external data that the auditor-employed specialist used to evaluate the reasonableness of other significant assumptions. (AS 1105.04 .06 and .A8a; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 6 AS 1105 A8a For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of (1) external data that the company's specialist used to develop a significant assumption and (2) other external data that the auditor-employed specialist used to evaluate the reasonableness of other significant assumptions. (AS 1105.04 .06 and .A8a; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 6 AS 1201 C6 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of (1) external data that the company's specialist used to develop a significant assumption and (2) other external data that the auditor-employed specialist used to evaluate the reasonableness of other significant assumptions. (AS 1105.04 .06 and .A8a; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 6 AS 1201 C7 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not evaluate the relevance and reliability of (1) external data that the company's specialist used to develop a significant assumption and (2) other external data that the auditor-employed specialist used to evaluate the reasonableness of other significant assumptions. (AS 1105.04 .06 and .A8a; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 7 AS 1105 4 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not evaluate the reliability of certain other information that the firm used to evaluate the reasonableness of certain significant assumptions developed by the issuer. (AS 1105.04 and .06) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 7 AS 1105 6 For one of these business combinations the firm's approach to substantively test the fair values of certain other acquired intangible assets consisted of testing the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions that the company's specialists used. The following deficiencies were identified: · The firm did not evaluate the reliability of certain other information that the firm used to evaluate the reasonableness of certain significant assumptions developed by the issuer. (AS 1105.04 and .06) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 8 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 Fair Value Measurement related to certain acquired assets. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 8 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 Fair Value Measurement related to certain acquired assets. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue 9 AS 1105 10 The firm did not perform procedures to test or test controls over the accuracy and completeness of certain issuer-produced information that the firm used in its substantive testing. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue 10 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 606 related to a description of the nature of certain services the issuer promised to transfer. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue 10 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 606 related to a description of the nature of certain services the issuer promised to transfer. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2310 26 The issuer recorded certain revenue based on data in an electronic environment that were tracked by an IT system. To test this revenue the firm (1) sent positive confirmation requests to the issuer's customers with revenue over an established threshold and (2) selected a sample of transactions for testing. The following deficiencies were identified: · The firm's confirmation procedures were not sufficient because the firm did not consider whether the issuer's customers would have the information necessary to confirm that the issuer's performance obligations had been satisfied. (AS 2310.26) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The issuer recorded certain revenue based on data in an electronic environment that were tracked by an IT system. To test this revenue the firm (1) sent positive confirmation requests to the issuer's customers with revenue over an established threshold and (2) selected a sample of transactions for testing. The following deficiencies were identified: · The firm did not evaluate whether the transaction prices allocated to the issuer's performance obligations were based on standalone selling prices. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The issuer recorded certain revenue based on data in an electronic environment that were tracked by an IT system. To test this revenue the firm (1) sent positive confirmation requests to the issuer's customers with revenue over an established threshold and (2) selected a sample of transactions for testing. The following deficiencies were identified: · The firm did not evaluate whether the transaction prices allocated to the issuer's performance obligations were based on standalone selling prices. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 For another type of revenue the firm did not perform procedures to test whether the issuer's performance obligation had been satisfied before revenue was recognized. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 13 For another type of revenue the firm did not perform procedures to test whether the issuer's performance obligation had been satisfied before revenue was recognized. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2810 30 The firm did not identify and evaluate the issuer's omission of a required disclosure under FASB ASC Topic 606 related to significant payment terms. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2810 31 The firm did not identify and evaluate the issuer's omission of a required disclosure under FASB ASC Topic 606 related to significant payment terms. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Going Concern 5 AS 1105 4 The issuer evaluated its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The firm did not sufficiently evaluate the reliability of management's plans because it did not (1) evaluate management's ability to increase revenue and (2) take into account certain conditions and events that could affect revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Going Concern 5 AS 1105 6 The issuer evaluated its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The firm did not sufficiently evaluate the reliability of management's plans because it did not (1) evaluate management's ability to increase revenue and (2) take into account certain conditions and events that could affect revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Going Concern 5 AS 2415 3 The issuer evaluated its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The firm did not sufficiently evaluate the reliability of management's plans because it did not (1) evaluate management's ability to increase revenue and (2) take into account certain conditions and events that could affect revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Going Concern 5 AS 2415 8 The issuer evaluated its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The firm did not sufficiently evaluate the reliability of management's plans because it did not (1) evaluate management's ability to increase revenue and (2) take into account certain conditions and events that could affect revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Going Concern 5 AS 2415 9 The issuer evaluated its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The firm did not sufficiently evaluate the reliability of management's plans because it did not (1) evaluate management's ability to increase revenue and (2) take into account certain conditions and events that could affect revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 42 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment and the firm selected for testing a control that consisted of the issuer's review of this assessment. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of a significant assumption used in this assessment. (AS 2201.42 and .44) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 44 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment and the firm selected for testing a control that consisted of the issuer's review of this assessment. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of a significant assumption used in this assessment. (AS 2201.42 and .44) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 2 AS 1201 C6 The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not evaluate whether the auditor-employed specialist's independent expectation of the fair value as a range encompassed only reasonable outcomes and was supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 2 AS 1201 C7 The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not evaluate whether the auditor-employed specialist's independent expectation of the fair value as a range encompassed only reasonable outcomes and was supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 2 AS 2501 25 The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not evaluate whether the auditor-employed specialist's independent expectation of the fair value as a range encompassed only reasonable outcomes and was supported by sufficient appropriate audit evidence. (AS 1201.C6 and .C7; AS 2501.25) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 4 The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 6 The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1201 C6 The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1201 C7 The firm's approach to substantively test the issuer's goodwill impairment assessment consisted of developing an independent expectation of the fair value of the issuer's single reporting unit as a range using an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform procedures to evaluate the relevance of data from external sources it used to develop the independent expectation as a range. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 4 AS 2501 16 The issuer estimated the cost of certain inventory using various significant assumptions. The firm's approach for substantively testing the valuation of this inventory was to test the issuer's process. The following deficiencies were identified: · The firm's approach for evaluating the reasonableness of certain significant assumptions was to develop expectations of these assumptions. The firm did not perform sufficient procedures to demonstrate it had a reasonable basis for its expectations because it limited the development of these expectations to the results of its tests of certain varieties of inventory items. (AS 2501.16) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 5 AS 1105 10 The issuer estimated the cost of certain inventory using various significant assumptions. The firm's approach for substantively testing the valuation of this inventory was to test the issuer's process. The following deficiencies were identified: · The firm did not perform procedures to test or test controls over the accuracy and/or completeness of certain issuer-produced information that the firm used in its substantive testing of inventory. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The firm did not perform procedures to test or test controls over the accuracy and completeness of certain issuer-produced information that it used in its testing of (1) certain revenue and (2) the issuer's disclosure related to the remaining performance obligations. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A I No Financial statement audit only Audits with multiple deficiencies Intangible Asset 2 AS 2301 8 The firm did not perform any substantive procedures to test intangible assets for possible impairment. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Expenses 1 AS 2201 62 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The issuer used an IT system to initiate process and record transactions related to certain expenses and long-lived assets. The firm identified various control deficiencies in its testing of ITGCs over this system but did not sufficiently evaluate whether these deficiencies represented a material weakness because the firm did not evaluate the magnitude of the potential misstatements resulting from these deficiencies. (AS 2201.62) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 62 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The issuer used an IT system to initiate process and record transactions related to certain expenses and long-lived assets. The firm identified various control deficiencies in its testing of ITGCs over this system but did not sufficiently evaluate whether these deficiencies represented a material weakness because the firm did not evaluate the magnitude of the potential misstatements resulting from these deficiencies. (AS 2201.62) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Expenses 2 AS 2201 46 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The issuer used an IT system to initiate process and record transactions related to certain expenses and long-lived assets. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated from this system. As a result of this deficiency in the firm's evaluation the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 2201 46 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The issuer used an IT system to initiate process and record transactions related to certain expenses and long-lived assets. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used data and reports generated from this system. As a result of this deficiency in the firm's evaluation the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Expenses 3 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The issuer included payroll and other costs as components of these expenses which were affected by the audit deficiencies discussed above. The following additional deficiencies were identified: · The firm did not evaluate whether the controls it selected for testing were designed to address the risk of whether the issuer had appropriately classified these payroll and other costs. (AS 2201.42) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Expenses 4 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The issuer included payroll and other costs as components of these expenses which were affected by the audit deficiencies discussed above. The following additional deficiencies were identified: · The firm did not perform any substantive procedures to test whether the issuer had appropriately classified these payroll costs. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 5 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The firm selected for testing a control which was affected by the audit deficiencies discussed above that included the issuer's review of certain long-lived assets for possible impairment. The firm did not evaluate the specific review procedures that the control owner performed to assess certain indicators of possible impairment. (AS 2201.42 and .44) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 5 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The firm selected for testing a control which was affected by the audit deficiencies discussed above that included the issuer's review of certain long-lived assets for possible impairment. The firm did not evaluate the specific review procedures that the control owner performed to assess certain indicators of possible impairment. (AS 2201.42 and .44) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 6 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed the ITGCs area and also identified the deficiency below. The firm did not perform any substantive procedures to test these long-lived assets for possible impairment. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A K No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2501 10 The issuer recognized revenue from contracts with customers that included an estimate of variable consideration in the transaction price; the issuer estimated this variable consideration using a portfolio of contracts approach. The following deficiencies were identified: · The firm did not evaluate whether the issuer's method to estimate variable consideration was in conformity with FASB ASC Topic 606 and appropriate for the nature of the revenue. (AS 2501.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A K No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 10 The issuer recognized revenue from contracts with customers that included an estimate of variable consideration in the transaction price; the issuer estimated this variable consideration using a portfolio of contracts approach. The following deficiencies were identified: · The firm used an issuer-prepared schedule of cash receipts by invoice in its substantive testing of the variable consideration estimate. The firm did not sufficiently test or test controls over the accuracy of this schedule because it did not perform procedures to evaluate whether the cash receipts throughout the period related to the associated invoices. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A K No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 16 The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A K No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 23 The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A K No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 23A The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 1 AS 1105 4 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm compared the forecasted revenue to the issuer's results subsequent to year end but did not evaluate the significant difference it identified. Further the firm did not evaluate whether the issuer's recent reduction in workforce would affect its ability to achieve its forecasted revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 1 AS 1105 6 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm compared the forecasted revenue to the issuer's results subsequent to year end but did not evaluate the significant difference it identified. Further the firm did not evaluate whether the issuer's recent reduction in workforce would affect its ability to achieve its forecasted revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 1 AS 2415 3 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm compared the forecasted revenue to the issuer's results subsequent to year end but did not evaluate the significant difference it identified. Further the firm did not evaluate whether the issuer's recent reduction in workforce would affect its ability to achieve its forecasted revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 1 AS 2415 8 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm compared the forecasted revenue to the issuer's results subsequent to year end but did not evaluate the significant difference it identified. Further the firm did not evaluate whether the issuer's recent reduction in workforce would affect its ability to achieve its forecasted revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 1 AS 2415 9 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm compared the forecasted revenue to the issuer's results subsequent to year end but did not evaluate the significant difference it identified. Further the firm did not evaluate whether the issuer's recent reduction in workforce would affect its ability to achieve its forecasted revenue growth. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 2 AS 1105 4 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm did not compare certain forecasted expenditures with the issuer's results subsequent to year end. (AS 1105.04 and .06; AS 2415.09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 2 AS 1105 6 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm did not compare certain forecasted expenditures with the issuer's results subsequent to year end. (AS 1105.04 and .06; AS 2415.09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Going Concern Significant Risk 2 AS 2415 9 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the reliability of the issuer's forecasted financial information as follows: · The firm did not compare certain forecasted expenditures with the issuer's results subsequent to year end. (AS 1105.04 and .06; AS 2415.09) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A M No Financial statement audit only Audits with multiple deficiencies Derivatives Significant Risk 1 AS 2301 8 During the year the issuer entered into certain equity-related agreements; the issuer accounted for each of these agreements as one or more derivatives. The following deficiencies were identified: · The firm did not evaluate whether the issuer's accounting for one of these agreements was in conformity with FASB ASC Topic 815 Derivatives and Hedging. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A M No Financial statement audit only Audits with multiple deficiencies Derivatives Significant Risk 2 AS 2501 16 During the year the issuer entered into certain equity-related agreements; the issuer accounted for each of these agreements as one or more derivatives. The following deficiencies were identified: · The firm's approach to substantively test the fair values of these derivatives at issuance and year end was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions used in the valuation of these derivatives at issuance and year end beyond reading an issuer-prepared memorandum and inquiring of management and for one of the agreements a counterparty. (AS 2501.16) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A M No Financial statement audit only Audits with multiple deficiencies Derivatives Significant Risk 3 AS 2810 30 During the year the issuer entered into certain equity-related agreements; the issuer accounted for each of these agreements as one or more derivatives. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 related to the valuation of these derivatives at issuance and year end. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A M No Financial statement audit only Audits with multiple deficiencies Derivatives Significant Risk 3 AS 2810 31 During the year the issuer entered into certain equity-related agreements; the issuer accounted for each of these agreements as one or more derivatives. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 related to the valuation of these derivatives at issuance and year end. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A N No Financial statement audit only Audits with multiple deficiencies Debt 1 AS 2301 8 The firm did not perform any substantive procedures to test the issuer's compliance with certain financial debt covenants. (AS 2301.08) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A N No Financial statement audit only Audits with multiple deficiencies Debt 2 AS 2810 30 The firm did not identify and evaluate (1) a misstatement in the issuer's statement of cash flows related to proceeds and repayments of debt; (2) the issuer's omission of a required disclosure under FASB ASC Topic 210 Balance Sheet related to the remaining borrowing capacity for certain debt; and (3) misstatements in certain disclosures required under FASB ASC Topic 820 and FASB ASC Topic 825 Financial Instruments related to the issuer's accounting for and measurement of certain other debt. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its presentation of the statement of cash flows and concluded that a misstatement existed that had not been previously identified. The issuer corrected this misstatement in a subsequent filing. Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A N No Financial statement audit only Audits with multiple deficiencies Debt 2 AS 2810 31 The firm did not identify and evaluate (1) a misstatement in the issuer's statement of cash flows related to proceeds and repayments of debt; (2) the issuer's omission of a required disclosure under FASB ASC Topic 210 Balance Sheet related to the remaining borrowing capacity for certain debt; and (3) misstatements in certain disclosures required under FASB ASC Topic 820 and FASB ASC Topic 825 Financial Instruments related to the issuer's accounting for and measurement of certain other debt. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its presentation of the statement of cash flows and concluded that a misstatement existed that had not been previously identified. The issuer corrected this misstatement in a subsequent filing. Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A N No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 3 AS 2301 8 The issuer performed an assessment of certain of its long-lived assets for possible impairment at year end and concluded that the carrying value of these assets was recoverable. The firm did not identify that the issuer did not consider certain indicators of possible impairment in its assessment of these assets. (AS 2301.08; AS 2810.03) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A N No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 3 AS 2810 3 The issuer performed an assessment of certain of its long-lived assets for possible impairment at year end and concluded that the carrying value of these assets was recoverable. The firm did not identify that the issuer did not consider certain indicators of possible impairment in its assessment of these assets. (AS 2301.08; AS 2810.03) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A O No ICFR audit only Audits with multiple deficiencies Investments 1 AS 2201 39 The issuer used various service organizations for the custody recordkeeping and processing of investment transactions and these service organizations used sub-service organizations for certain functions. For certain sub-service organizations and one service organization the firm did not obtain an understanding of or test any relevant controls for the year under audit. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A O No ICFR audit only Audits with multiple deficiencies Investments 1 AS 2201 B19 The issuer used various service organizations for the custody recordkeeping and processing of investment transactions and these service organizations used sub-service organizations for certain functions. For certain sub-service organizations and one service organization the firm did not obtain an understanding of or test any relevant controls for the year under audit. (AS 2201.39 and .B19) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A O No ICFR audit only Audits with multiple deficiencies Investments 2 AS 2201 39 The firm obtained the service auditor's reports for certain of these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. The following deficiencies were identified: · The firm selected for testing a complementary user control that addressed the issuer's review of updates to its investment policies but did not test the design and operating effectiveness of this control. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A O No ICFR audit only Audits with multiple deficiencies Investments 2 AS 2201 B22 The firm obtained the service auditor's reports for certain of these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. The following deficiencies were identified: · The firm selected for testing a complementary user control that addressed the issuer's review of updates to its investment policies but did not test the design and operating effectiveness of this control. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A O No ICFR audit only Audits with multiple deficiencies Investments 3 AS 2201 39 The firm obtained the service auditor's reports for certain of these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. The following deficiencies were identified: · The firm did not perform any procedures to evaluate whether the issuer implemented certain other complementary user controls as described in the service auditor's reports. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A O No ICFR audit only Audits with multiple deficiencies Investments 3 AS 2201 B22 The firm obtained the service auditor's reports for certain of these service organizations and identified certain complementary user controls that the service auditor's reports described as necessary. The following deficiencies were identified: · The firm did not perform any procedures to evaluate whether the issuer implemented certain other complementary user controls as described in the service auditor's reports. (AS 2201.39 and .B22) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A P No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 1 AS 2401 61 For one business unit the firm did not perform any procedures to identify and select journal entries and other adjustments for testing without having an appropriate basis for excluding this business unit. (AS 2401.61) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A P No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 606 related to revenue that is recognized over time. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A P No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 606 related to revenue that is recognized over time. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A Q No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The issuer recognized revenue from certain contracts over time using an input method based on costs incurred. The following deficiencies were identified: · The firm did not perform substantive procedures to evaluate whether the costs incurred had been allocated to the appropriate contract. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A Q No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The issuer recognized revenue from certain contracts over time using an input method based on costs incurred. The following deficiencies were identified: · The firm did not perform substantive procedures to evaluate whether the costs incurred had been allocated to the appropriate contract. (AS 2301.08 and .13) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A Q No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 10 The issuer recognized revenue from certain contracts over time using an input method based on costs incurred. The following deficiencies were identified: · The firm used certain labor information in its substantive testing of the costs incurred but did not test or test controls over the accuracy of this information. (AS 1105.10) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A R No Financial statement audit only Audits with multiple deficiencies Goodwill 1 AS 1105 A8a During the year the issuer engaged a specialist to perform a quantitative assessment of goodwill for one reporting unit for possible impairment. The firm used an auditor-employed specialist to evaluate certain significant assumptions used in the issuer's assessment. For certain of these significant assumptions the firm did not identify that the auditor-employed specialist did not (1) perform procedures beyond inquiring of the company's specialist to evaluate the reasonableness of these assumptions and (2) evaluate the relevance and/or reliability of certain data from an external source the company's specialist used to develop these assumptions. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A R No Financial statement audit only Audits with multiple deficiencies Goodwill 1 AS 1105 A8b During the year the issuer engaged a specialist to perform a quantitative assessment of goodwill for one reporting unit for possible impairment. The firm used an auditor-employed specialist to evaluate certain significant assumptions used in the issuer's assessment. For certain of these significant assumptions the firm did not identify that the auditor-employed specialist did not (1) perform procedures beyond inquiring of the company's specialist to evaluate the reasonableness of these assumptions and (2) evaluate the relevance and/or reliability of certain data from an external source the company's specialist used to develop these assumptions. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A R No Financial statement audit only Audits with multiple deficiencies Goodwill 1 AS 1201 C6 During the year the issuer engaged a specialist to perform a quantitative assessment of goodwill for one reporting unit for possible impairment. The firm used an auditor-employed specialist to evaluate certain significant assumptions used in the issuer's assessment. For certain of these significant assumptions the firm did not identify that the auditor-employed specialist did not (1) perform procedures beyond inquiring of the company's specialist to evaluate the reasonableness of these assumptions and (2) evaluate the relevance and/or reliability of certain data from an external source the company's specialist used to develop these assumptions. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A R No Financial statement audit only Audits with multiple deficiencies Goodwill 1 AS 1201 C7 During the year the issuer engaged a specialist to perform a quantitative assessment of goodwill for one reporting unit for possible impairment. The firm used an auditor-employed specialist to evaluate certain significant assumptions used in the issuer's assessment. For certain of these significant assumptions the firm did not identify that the auditor-employed specialist did not (1) perform procedures beyond inquiring of the company's specialist to evaluate the reasonableness of these assumptions and (2) evaluate the relevance and/or reliability of certain data from an external source the company's specialist used to develop these assumptions. (AS 1105.A8a and .A8b; AS 1201.C6 and .C7) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A R No Financial statement audit only Audits with multiple deficiencies Goodwill 2 AS 2301 8 At year end the issuer concluded that it was not necessary to perform an additional quantitative assessment of goodwill for this reporting unit. The firm did not sufficiently evaluate the issuer's conclusion because it did not evaluate the issuer's basis for concluding that certain events and circumstances that occurred during the year did not indicate that it was more likely than not that the fair value of this reporting unit was below its carrying amount. (AS 2301.08; AS 2810.03) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A R No Financial statement audit only Audits with multiple deficiencies Goodwill 2 AS 2810 3 At year end the issuer concluded that it was not necessary to perform an additional quantitative assessment of goodwill for this reporting unit. The firm did not sufficiently evaluate the issuer's conclusion because it did not evaluate the issuer's basis for concluding that certain events and circumstances that occurred during the year did not indicate that it was more likely than not that the fair value of this reporting unit was below its carrying amount. (AS 2301.08; AS 2810.03) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A S No Financial statement audit only Audits with a single deficiency Intangible Assets Significant Risk 1 AS 2501 16 The issuer performed assessments of certain intangible assets for possible impairment using various significant assumptions. The firm's approach to evaluate these impairment assessments was to test the issuer's process. The firm did not perform procedures beyond inquiring of management to evaluate the reasonableness of certain significant assumptions used in these impairment assessments. (AS 2501.16) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A T No Financial statement audit only Audits with a single deficiency Debt Significant Risk 1 AS 2501 16 The issuer reported convertible debt that was measured at fair value. The firm did not perform procedures beyond inquiring of management to evaluate the reasonableness of a significant assumption used by the issuer to determine the fair value of the convertible debt. (AS 2501.16) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A U No Financial statement audit only Audits with a single deficiency Warrants 1 AS 2810 30 The issuer reported warrants that were recorded as liabilities. The firm did not identify and evaluate the issuer's omission of and a misstatement in certain required disclosures under FASB ASC Topic 820 related to these warrants. (AS 2810.30 and .31) Annually Inspected 688 Marcum LLP 2024 United States 2025-06-25T00:00:00 Part I.A U No Financial statement audit only Audits with a single deficiency Warrants 1 AS 2810 31 The issuer reported warrants that were recorded as liabilities. The firm did not identify and evaluate the issuer's omission of and a misstatement in certain required disclosures under FASB ASC Topic 820 related to these warrants. (AS 2810.30 and .31) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether certain revenue was recognized in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers (“ASC Topic 606”) because it did not perform any procedures to evaluate whether revenue was recognized as the issuer's performance obligation was satisfied. (AS 2301.08 and .11) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 11 The firm did not perform sufficient procedures to evaluate whether certain revenue was recognized in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers (“ASC Topic 606”) because it did not perform any procedures to evaluate whether revenue was recognized as the issuer's performance obligation was satisfied. (AS 2301.08 and .11) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 2 AS 2301 8 For certain other revenue the following deficiency was identified: · The firm did not perform sufficient procedures to test the transaction price because it did not evaluate whether the promised consideration included variable consideration. (AS 2301.08) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 3 AS 2301 16 For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The sample size the firm used was 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 the firm did not identify and test any controls over the revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 3 AS 2301 18 For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The sample size the firm used was 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 the firm did not identify and test any controls over the revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 3 AS 2301 37 For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The sample size the firm used was 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 the firm did not identify and test any controls over the revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 3 AS 2315 19 For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The sample size the firm used was 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 the firm did not identify and test any controls over the revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 3 AS 2315 23 For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The sample size the firm used was 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 the firm did not identify and test any controls over the revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 3 AS 2315 23A For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The sample size the firm used was 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 the firm did not identify and test any controls over the revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 4 AS 2301 16 For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The firm did not take into account appropriate factors in determining its sample size including its established tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 4 AS 2315 23 For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The firm did not take into account appropriate factors in determining its sample size including its established tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 4 AS 2315 23A For certain other revenue the following deficiency was identified: · The firm's substantive procedures to test this revenue included testing a sample of transactions. The firm did not take into account appropriate factors in determining its sample size including its established tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 5 AS 1105 10 The firm used an issuer-prepared report in its substantive procedures to test the inventory reserve but did not perform any procedures to test or test any controls over the accuracy and completeness of this report. (AS 1105.10) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 6 AS 2301 8 The firm's substantive procedures to test the valuation of inventory included selecting a sample of inventory items for testing. The firm did not perform any procedures to identify slow-moving inventory for certain inventory items selected for testing. (AS 2301.08 and .11) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 6 AS 2301 11 The firm's substantive procedures to test the valuation of inventory included selecting a sample of inventory items for testing. The firm did not perform any procedures to identify slow-moving inventory for certain inventory items selected for testing. (AS 2301.08 and .11) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2301 8 The firm's substantive procedures to test whether inventory was stated at the lower of cost or net realizable value included selecting a sample of inventory items for testing. The firm did not perform any procedures to test certain inventory items selected for testing. Further the firm did not perform procedures to test certain other inventory items selected for testing beyond comparing the reported cost of the inventory item to its selling price reflected in the issuer's price list. (AS 2301.08 and .11) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2301 11 The firm's substantive procedures to test whether inventory was stated at the lower of cost or net realizable value included selecting a sample of inventory items for testing. The firm did not perform any procedures to test certain inventory items selected for testing. Further the firm did not perform procedures to test certain other inventory items selected for testing beyond comparing the reported cost of the inventory item to its selling price reflected in the issuer's price list. (AS 2301.08 and .11) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 8 AS 2401 61 The firm selected for testing journal entries and other adjustments meeting certain fraud criteria. The firm did not perform sufficient procedures to test the selected journal entries and other adjustments because it did not examine the underlying support for the entries and adjustments. (AS 2401.61) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 9 AS 2410 14 The firm did not perform sufficient procedures to evaluate whether the issuer had properly identified accounted for and disclosed its related party relationships and transactions because the firm did not take into account information gathered during the audit that could indicate that related party relationships or transactions previously undisclosed to the firm might exist. (AS 2410.14 .15 and .16) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 9 AS 2410 15 The firm did not perform sufficient procedures to evaluate whether the issuer had properly identified accounted for and disclosed its related party relationships and transactions because the firm did not take into account information gathered during the audit that could indicate that related party relationships or transactions previously undisclosed to the firm might exist. (AS 2410.14 .15 and .16) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 9 AS 2410 16 The firm did not perform sufficient procedures to evaluate whether the issuer had properly identified accounted for and disclosed its related party relationships and transactions because the firm did not take into account information gathered during the audit that could indicate that related party relationships or transactions previously undisclosed to the firm might exist. (AS 2410.14 .15 and .16) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 10 AS 2410 17 In addition the firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 10 AS 2810 30 In addition the firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 10 AS 2810 31 In addition the firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 16 The firm's substantive procedures to test revenue included testing a sample of transactions. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 18 The firm's substantive procedures to test revenue included testing a sample of transactions. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 37 The firm's substantive procedures to test revenue included testing a sample of transactions. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2315 19 The firm's substantive procedures to test revenue included testing a sample of transactions. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2315 23 The firm's substantive procedures to test revenue included testing a sample of transactions. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2315 23A The firm's substantive procedures to test revenue included testing a sample of transactions. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over revenue. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether certain revenue was recognized in conformity with ASC Topic 606 because it did not perform any procedures to test whether the revenue was recognized when the issuer's performance obligation was satisfied. (AS 2301.08 and .13) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm did not perform sufficient procedures to evaluate whether certain revenue was recognized in conformity with ASC Topic 606 because it did not perform any procedures to test whether the revenue was recognized when the issuer's performance obligation was satisfied. (AS 2301.08 and .13) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 The firm did not perform procedures to evaluate whether the amounts reflected in certain of the issuer's revenue disclosures were accurate and complete beyond performing non-substantive analytical procedures. (AS 2301.08) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 4 AS 2401 61 The firm selected for testing journal entries and other adjustments meeting certain fraud criteria. The firm did not perform sufficient procedures to test the selected journal entries and other adjustments because it did not examine the underlying support for the entries and adjustments. (AS 2401.61) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 5 AS 2410 14 The firm did not perform sufficient procedures to evaluate whether the issuer had properly identified accounted for and disclosed its related party transactions because the firm did not evaluate whether there were any transactions with certain related parties. (AS 2410.14) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 6 AS 2301 8 The firm did not perform procedures to test the accuracy and completeness of amounts due from related parties beyond sending confirmation requests to certain related parties and inspecting evidence of partial repayment. (AS 2301.08 and .11; AS 2410.12) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 6 AS 2301 11 The firm did not perform procedures to test the accuracy and completeness of amounts due from related parties beyond sending confirmation requests to certain related parties and inspecting evidence of partial repayment. (AS 2301.08 and .11; AS 2410.12) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 6 AS 2410 12 The firm did not perform procedures to test the accuracy and completeness of amounts due from related parties beyond sending confirmation requests to certain related parties and inspecting evidence of partial repayment. (AS 2301.08 and .11; AS 2410.12) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2301 16 The firm's substantive procedures to test inventory included testing a sample of inventory items. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over inventory. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2301 18 The firm's substantive procedures to test inventory included testing a sample of inventory items. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over inventory. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2301 37 The firm's substantive procedures to test inventory included testing a sample of inventory items. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over inventory. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2315 19 The firm's substantive procedures to test inventory included testing a sample of inventory items. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over inventory. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2315 23 The firm's substantive procedures to test inventory included testing a sample of inventory items. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over inventory. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 3299 ARK PRO CPA & CO 2024 Hong Kong 2025-06-12T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 7 AS 2315 23A The firm's substantive procedures to test inventory included testing a sample of inventory items. The sample sizes the firm used in certain of its substantive procedures 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 the firm did not identify and test any controls over inventory. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 4 The issuer recognized revenue based on the rates in the contracts with its customers and the amount of time incurred to provide its services that was maintained in one of the issuer's information-technology (IT) systems. The firm did not perform sufficient procedures to test the accuracy and completeness of the time data because its procedures were limited to comparing the issuer's data to data from an external source and inspecting the issuer's reconciliation of the data to data the issuer obtained from its customers without evaluating the reliability of the data from these external sources. (AS 1105.04 .06 and .10) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 6 The issuer recognized revenue based on the rates in the contracts with its customers and the amount of time incurred to provide its services that was maintained in one of the issuer's information-technology (IT) systems. The firm did not perform sufficient procedures to test the accuracy and completeness of the time data because its procedures were limited to comparing the issuer's data to data from an external source and inspecting the issuer's reconciliation of the data to data the issuer obtained from its customers without evaluating the reliability of the data from these external sources. (AS 1105.04 .06 and .10) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The issuer recognized revenue based on the rates in the contracts with its customers and the amount of time incurred to provide its services that was maintained in one of the issuer's information-technology (IT) systems. The firm did not perform sufficient procedures to test the accuracy and completeness of the time data because its procedures were limited to comparing the issuer's data to data from an external source and inspecting the issuer's reconciliation of the data to data the issuer obtained from its customers without evaluating the reliability of the data from these external sources. (AS 1105.04 .06 and .10) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Going Concern 2 AS 1105 10 The issuer used forecasted cash flows in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The issuer also used forecasted cash flows in its evaluation of certain long-lived assets for possible impairment. The issuer developed both of these forecasted cash flows using various assumptions including certain employee data. The firm used certain labor hour information in its substantive testing of the employee data for each of these forecasted cash flows but did not perform any procedures to test the accuracy and completeness of this information. (AS 1105.10; AS 2415.03) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 2 AS 1105 10 The issuer used forecasted cash flows in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The issuer also used forecasted cash flows in its evaluation of certain long-lived assets for possible impairment. The issuer developed both of these forecasted cash flows using various assumptions including certain employee data. The firm used certain labor hour information in its substantive testing of the employee data for each of these forecasted cash flows but did not perform any procedures to test the accuracy and completeness of this information. (AS 1105.10; AS 2415.03) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Going Concern 2 AS 2415 3 The issuer used forecasted cash flows in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The issuer also used forecasted cash flows in its evaluation of certain long-lived assets for possible impairment. The issuer developed both of these forecasted cash flows using various assumptions including certain employee data. The firm used certain labor hour information in its substantive testing of the employee data for each of these forecasted cash flows but did not perform any procedures to test the accuracy and completeness of this information. (AS 1105.10; AS 2415.03) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 2 AS 2415 3 The issuer used forecasted cash flows in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. The issuer also used forecasted cash flows in its evaluation of certain long-lived assets for possible impairment. The issuer developed both of these forecasted cash flows using various assumptions including certain employee data. The firm used certain labor hour information in its substantive testing of the employee data for each of these forecasted cash flows but did not perform any procedures to test the accuracy and completeness of this information. (AS 1105.10; AS 2415.03) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Fraud Risk 1 AS 2201 42 For certain assets that were evaluated for impairment the issuer determined adjustment factors that were important inputs used in developing this estimate. The following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's review of this estimate including an assessment of these inputs for reasonableness. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of these inputs. (AS 2201.42 and .44) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Fraud Risk 1 AS 2201 44 For certain assets that were evaluated for impairment the issuer determined adjustment factors that were important inputs used in developing this estimate. The following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's review of this estimate including an assessment of these inputs for reasonableness. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of these inputs. (AS 2201.42 and .44) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Fraud Risk 2 AS 2501 16 For certain assets that were evaluated for impairment the issuer determined adjustment factors that were important inputs used in developing this estimate. The following deficiencies were identified: · The firm's approach for substantively testing the reasonableness of this estimate was to test the issuer's process. The firm did not perform any procedures to evaluate the reasonableness of the significant assumptions the issuer used to develop this estimate. (AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Fraud Risk 3 AS 1105 4 For certain assets that were evaluated for impairment the issuer determined adjustment factors that were important inputs used in developing this estimate. The following deficiencies were identified: · The firm's approach for substantively testing the reasonableness of this estimate was to test the issuer's process. The firm did not perform any procedures to evaluate the relevance of certain data that the issuer used to develop the adjustment factors. (AS 1105.04 and .06) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Significant Estimate Fraud Risk 3 AS 1105 6 For certain assets that were evaluated for impairment the issuer determined adjustment factors that were important inputs used in developing this estimate. The following deficiencies were identified: · The firm's approach for substantively testing the reasonableness of this estimate was to test the issuer's process. The firm did not perform any procedures to evaluate the relevance of certain data that the issuer used to develop the adjustment factors. (AS 1105.04 and .06) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A1 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A10 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A2 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A3 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A4 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A5 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A6 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A7 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A8 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 1105 A9 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Loans Significant Risk 4 AS 2501 16 During the year the issuer purchased certain collateralized loans at a discount and engaged specialists to estimate the fair value of these loans' underlying collateral that the issuer used to determine whether these discounts were acceptable. The firm's approach for substantively testing the fair value of the underlying collateral was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions the company's specialists used to develop the collateral values beyond inquiring of management and reading information prepared by the company's specialists. Further the firm did not perform procedures with respect to its use of the work of the company's specialists as audit evidence beyond gaining an understanding of the professional qualifications for one of the company's specialists. (AS 1105.A1-.A10; AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2305 16 The firm's substantive procedures to test certain revenue included two substantive analytical procedures. The following deficiencies were identified: · For both substantive analytical procedures the firm used certain information obtained from an external source to develop its expectations but did not evaluate the reliability of this information. (AS 2305.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2305 16 The firm's substantive procedures to test certain revenue included two substantive analytical procedures. The following deficiencies were identified: · For one of these substantive analytical procedures the firm developed its expectation based on certain information obtained from another external source but did not evaluate whether this information was sufficiently reliable for purposes of achieving its audit objectives. (AS 2305.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2301 8 For all but one of the issuer's asset groups the firm did not perform any procedures to evaluate certain indicators of potential impairment that existed at year end. (AS 2301.08 and .11; AS 2810.03) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2301 11 For all but one of the issuer's asset groups the firm did not perform any procedures to evaluate certain indicators of potential impairment that existed at year end. (AS 2301.08 and .11; AS 2810.03) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2810 3 For all but one of the issuer's asset groups the firm did not perform any procedures to evaluate certain indicators of potential impairment that existed at year end. (AS 2301.08 and .11; AS 2810.03) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 4 AS 1105 10 For the remaining asset group the issuer identified events during the year indicating that the carrying value of its long-lived assets for that asset group may not be recoverable and performed an impairment analysis. The firm used an issuer-prepared schedule in its evaluation of the issuer's assessment of those long-lived assets for possible impairment but did not perform any procedures to test the accuracy of certain information in this schedule. (AS 1105.10) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2501 16 The issuer recognized revenue from certain contracts over time based on estimated costs incurred relative to total estimated costs to complete the contract. The firm did not evaluate the reasonableness of the significant standard cost assumption that the issuer used to develop the estimated costs incurred on and the estimated costs to complete the contracts the firm selected for testing. (AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Inventory 2 AS 2301 8 At two of the issuer's locations the issuer valued certain inventory at standard cost and capitalized certain labor and overhead costs to inventory based on the difference between the actual costs incurred and the costs recorded at standard. The firm did not perform sufficient substantive procedures to test the capitalized variance recorded by the issuer at year end because it did not evaluate whether the amount the issuer used to calculate the capitalized variance represented the actual difference between actual and standard costs. (AS 2301.08) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 1105 10 At one of these locations the issuer valued certain inventory using the last-in first-out (LIFO) method. The firm used certain information provided by the issuer to test the LIFO reserve but did not perform any procedures to test or test any controls over the accuracy of this information. (AS 1105.10) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A E No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 68 The firm identified a control deficiency related to the issuer's control over the occurrence and cut-off of certain revenue. The firm identified and tested various controls that it believed would mitigate this deficiency but did not identify that these compensating controls either did not address the risk of material misstatement related to whether revenue occurred and was recorded in the appropriate period or did not operate at a level of precision that would prevent or detect a misstatement that could be material. (AS 2201.68) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A F No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2501 16 The issuer recognized revenue from certain contracts over time based on costs incurred to date relative to total estimated costs to complete the contract. The firm did not sufficiently test the estimated total costs to complete a certain contract it selected for testing because it did not perform any substantive procedures to evaluate the reasonableness of the remaining number of units the issuer expected to deliver that the issuer used to develop the estimated total costs to complete. (AS 2501.16) Annually Inspected 49 RSM US LLP 2024 United States 2025-05-22T00:00:00 Part I.A G No Financial statement audit only Audits with a single deficiency Inventory 1 AS 2501 16 The issuer recorded an excess and obsolete (E&O) inventory reserve for certain inventory based on the inventory on hand compared to the sales forecast for this inventory. The firm did not perform any procedures to evaluate the reasonableness of the sales forecast that the issuer used to develop this E&O inventory reserve. (AS 2501.16) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 1 AS 2501 16 The issuer evaluated certain of its intangible assets for possible impairment using forecasted cash flows that it developed using various assumptions including when and at what amounts the issuer would be able to begin recognizing revenue. The firm did not evaluate beyond inquiry of management whether the issuer had a reasonable basis for the significant assumptions the issuer used including taking into account the issuer's ability to carry out its planned course of action for certain of these assumptions. (AS 2501.16 and .17) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 1 AS 2501 17 The issuer evaluated certain of its intangible assets for possible impairment using forecasted cash flows that it developed using various assumptions including when and at what amounts the issuer would be able to begin recognizing revenue. The firm did not evaluate beyond inquiry of management whether the issuer had a reasonable basis for the significant assumptions the issuer used including taking into account the issuer's ability to carry out its planned course of action for certain of these assumptions. (AS 2501.16 and .17) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 2 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to these intangible assets and determined that certain disclosures were omitted. The issuer corrected these omissions in the amended filing discussed below. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 2 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its disclosures related to these intangible assets and determined that certain disclosures were omitted. The issuer corrected these omissions in the amended filing discussed below. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Debt Significant Risk 3 AS 2301 8 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate whether the issuer's accounting for and presentation of convertible debt including warrants were in conformity with relevant GAAP because for certain transactions its procedures were limited to reading an issuer-prepared memorandum without evaluating certain terms within the debt and warrant agreements. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Warrants Significant Risk 3 AS 2301 8 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate whether the issuer's accounting for and presentation of convertible debt including warrants were in conformity with relevant GAAP because for certain transactions its procedures were limited to reading an issuer-prepared memorandum without evaluating certain terms within the debt and warrant agreements. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Debt Significant Risk 3 AS 2301 11 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate whether the issuer's accounting for and presentation of convertible debt including warrants were in conformity with relevant GAAP because for certain transactions its procedures were limited to reading an issuer-prepared memorandum without evaluating certain terms within the debt and warrant agreements. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Warrants Significant Risk 3 AS 2301 11 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate whether the issuer's accounting for and presentation of convertible debt including warrants were in conformity with relevant GAAP because for certain transactions its procedures were limited to reading an issuer-prepared memorandum without evaluating certain terms within the debt and warrant agreements. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Debt Significant Risk 4 AS 2810 30 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not identify and evaluate that the method the issuer used to allocate fair value between certain warrants and convertible debt was not in conformity with FASB ASC Topic 470 Debt. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Warrants Significant Risk 4 AS 2810 30 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not identify and evaluate that the method the issuer used to allocate fair value between certain warrants and convertible debt was not in conformity with FASB ASC Topic 470 Debt. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Debt Significant Risk 4 AS 2810 31 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not identify and evaluate that the method the issuer used to allocate fair value between certain warrants and convertible debt was not in conformity with FASB ASC Topic 470 Debt. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Warrants Significant Risk 4 AS 2810 31 During the year the issuer entered into certain transactions related to convertible debt and warrants. The following deficiencies were identified: · The firm did not identify and evaluate that the method the issuer used to allocate fair value between certain warrants and convertible debt was not in conformity with FASB ASC Topic 470 Debt. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its accounting for these convertible debt and warrant transactions and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 1 AS 1105 4 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reliability of certain interim financial results it used to estimate the fair value of these investments because it did not perform procedures beyond (1) comparing the interim financial results to year-end financial results and (2) confirming for certain underlying investments operating results with related parties. Further for one of these investments the firm did not evaluate certain evidence that indicated lower revenue than it used to develop its independent expectation. (AS 1105.04 and .06; AS 2810.03) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 1 AS 1105 6 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reliability of certain interim financial results it used to estimate the fair value of these investments because it did not perform procedures beyond (1) comparing the interim financial results to year-end financial results and (2) confirming for certain underlying investments operating results with related parties. Further for one of these investments the firm did not evaluate certain evidence that indicated lower revenue than it used to develop its independent expectation. (AS 1105.04 and .06; AS 2810.03) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 1 AS 2810 3 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reliability of certain interim financial results it used to estimate the fair value of these investments because it did not perform procedures beyond (1) comparing the interim financial results to year-end financial results and (2) confirming for certain underlying investments operating results with related parties. Further for one of these investments the firm did not evaluate certain evidence that indicated lower revenue than it used to develop its independent expectation. (AS 1105.04 and .06; AS 2810.03) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 2 AS 1105 4 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · For one of these investments the firm did not perform sufficient procedures to evaluate the reliability of other data it used to estimate the fair value of the investment because its procedures were limited to recalculation. Further the firm did not evaluate certain evidence that indicated a higher amount than the data it used to develop its independent expectation. (AS 1105.04 and .06; AS 2810.03) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 2 AS 1105 6 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · For one of these investments the firm did not perform sufficient procedures to evaluate the reliability of other data it used to estimate the fair value of the investment because its procedures were limited to recalculation. Further the firm did not evaluate certain evidence that indicated a higher amount than the data it used to develop its independent expectation. (AS 1105.04 and .06; AS 2810.03) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 2 AS 2810 3 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · For one of these investments the firm did not perform sufficient procedures to evaluate the reliability of other data it used to estimate the fair value of the investment because its procedures were limited to recalculation. Further the firm did not evaluate certain evidence that indicated a higher amount than the data it used to develop its independent expectation. (AS 1105.04 and .06; AS 2810.03) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 3 AS 2810 30 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · The firm did not identify and evaluate a misstatement in a required disclosure under FASB ASC Topic 235 Notes to Financial Statements related to another investment. (AS 2810.30 and .31) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Investments Significant Risk 3 AS 2810 31 The issuer held certain investments that were categorized as level 3 within the fair value hierarchy as set forth in FASB ASC Topic 820 Fair Value Measurement. The firm's approach for substantively testing the fair value of these investments was to develop an independent expectation using certain interim financial results and other data about the underlying investments. The following deficiencies were identified: · The firm did not identify and evaluate a misstatement in a required disclosure under FASB ASC Topic 235 Notes to Financial Statements related to another investment. (AS 2810.30 and .31) In connection with our review the issuer reevaluated this disclosure and concluded that misstatements existed that had not been previously identified. The issuer subsequently restated its financial statements to correct these misstatements and the firm revised and reissued its report on the financial statements. Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 1 AS 2501 16 During the year the issuer acquired a business and engaged a specialist to assist it in determining the fair values of certain acquired intangible assets using various assumptions including forecasted revenue customer attrition rate and useful lives. Forecasted revenue included revenue for current contracts as well as projected revenue for contract renewals and expansions. The following deficiencies were identified: · The firm did not sufficiently evaluate the reasonableness of the forecasted revenue because its procedures were limited to agreeing the total contract value for current contracts to customer contracts without testing projected revenue for contract renewals or expansions. (AS 2501.16) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 2 AS 2501 16 During the year the issuer acquired a business and engaged a specialist to assist it in determining the fair values of certain acquired intangible assets using various assumptions including forecasted revenue customer attrition rate and useful lives. Forecasted revenue included revenue for current contracts as well as projected revenue for contract renewals and expansions. The following deficiencies were identified: · The firm did not sufficiently evaluate the reasonableness of the customer attrition rate because its procedures were limited to consideration of the issuer's pre-existing relationships with customers and certain qualitative industry factors. (AS 2501.16) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 3 AS 2501 16 During the year the issuer acquired a business and engaged a specialist to assist it in determining the fair values of certain acquired intangible assets using various assumptions including forecasted revenue customer attrition rate and useful lives. Forecasted revenue included revenue for current contracts as well as projected revenue for contract renewals and expansions. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of the useful lives the issuer assigned to these intangible assets because it did not evaluate significant differences between the useful lives assigned to these assets and 1) the cash-flow forecast periods used to determine their fair values and/or 2) the remaining lives of the contracts. (AS 2501.16) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 4 AS 2810 30 During the year the issuer acquired a business and engaged a specialist to assist it in determining the fair values of certain acquired intangible assets using various assumptions including forecasted revenue customer attrition rate and useful lives. Forecasted revenue included revenue for current contracts as well as projected revenue for contract renewals and expansions. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 4 AS 2810 31 During the year the issuer acquired a business and engaged a specialist to assist it in determining the fair values of certain acquired intangible assets using various assumptions including forecasted revenue customer attrition rate and useful lives. Forecasted revenue included revenue for current contracts as well as projected revenue for contract renewals and expansions. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required under FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Contract Assets 5 AS 1105 4 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not evaluate the reliability of the information it obtained from the external party and used to select its sample for testing a control over change management for one of these systems. (AS 1105.04 and .06) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 1105 4 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not evaluate the reliability of the information it obtained from the external party and used to select its sample for testing a control over change management for one of these systems. (AS 1105.04 and .06) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Contract Assets 5 AS 1105 6 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not evaluate the reliability of the information it obtained from the external party and used to select its sample for testing a control over change management for one of these systems. (AS 1105.04 and .06) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 1105 6 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not evaluate the reliability of the information it obtained from the external party and used to select its sample for testing a control over change management for one of these systems. (AS 1105.04 and .06) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Contract Assets 6 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm selected for testing various controls over revenue but did not test or test any controls over the completeness of the system-generated reports that it used to select its samples for testing these controls. (AS 1105.10) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm selected for testing various controls over revenue but did not test or test any controls over the completeness of the system-generated reports that it used to select its samples for testing these controls. (AS 1105.10) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Contract Assets 7 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm used system-generated reports in its substantive testing of certain revenue transactions but did not perform any procedures to test or test any controls over the accuracy and completeness of these reports. (AS 1105.10) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 7 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm used system-generated reports in its substantive testing of certain revenue transactions but did not perform any procedures to test or test any controls over the accuracy and completeness of these reports. (AS 1105.10) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Contract Assets 8 AS 2301 8 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm's substantive procedures to test contract assets consisted of the preparation and testing of a roll-forward of contract assets from the prior year. The firm did not perform sufficient procedures to test this roll-forward because its procedures were limited to testing additions to contract assets during the year. (AS 2301.08) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 8 AS 2301 8 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm's substantive procedures to test contract assets consisted of the preparation and testing of a roll-forward of contract assets from the prior year. The firm did not perform sufficient procedures to test this roll-forward because its procedures were limited to testing additions to contract assets during the year. (AS 2301.08) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Contract Assets 9 AS 2810 30 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of a disclosure related to the change in the balance of contract assets required under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 9 AS 2810 30 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of a disclosure related to the change in the balance of contract assets required under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Contract Assets 9 AS 2810 31 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of a disclosure related to the change in the balance of contract assets required under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 9 AS 2810 31 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and outsourced certain aspects of the IT function including change management to an external party. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of a disclosure related to the change in the balance of contract assets required under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A D No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used a service organization to initiate and process transactions related to revenue that are then recorded in the issuer's information-technology (IT) system. In its testing of controls over revenue the firm tested certain automated and IT-dependent manual controls that used data and reports generated by this service organization. The firm obtained a service auditor's report and identified complementary user controls that the service auditor's report described as necessary. As a result of the deficiencies in the firm's testing of the complementary user controls discussed below the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A D No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 2201 42 The firm selected for testing a complementary user control that consisted of the issuer's reviews of user access to the service organization's IT system. The firm did not evaluate the specific review procedures that the control owners performed to determine whether previously granted access continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A D No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 2201 44 The firm selected for testing a complementary user control that consisted of the issuer's reviews of user access to the service organization's IT system. The firm did not evaluate the specific review procedures that the control owners performed to determine whether previously granted access continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A D No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 2201 B22 The firm selected for testing a complementary user control that consisted of the issuer's reviews of user access to the service organization's IT system. The firm did not evaluate the specific review procedures that the control owners performed to determine whether previously granted access continued to be appropriate. (AS 2201.42 .44 and .B22) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A D No ICFR audit only Audits with multiple deficiencies Revenue 3 AS 2201 39 The firm selected for testing a complementary user control that consisted of the issuer's reviews of user access to the service organization's IT system. The firm did not perform any procedures to evaluate whether the issuer had implemented any complementary user controls related to change management. (AS 2201.39 and .B22) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A D No ICFR audit only Audits with multiple deficiencies Revenue 3 AS 2201 B22 The firm selected for testing a complementary user control that consisted of the issuer's reviews of user access to the service organization's IT system. The firm did not perform any procedures to evaluate whether the issuer had implemented any complementary user controls related to change management. (AS 2201.39 and .B22) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 For certain customer contracts the firm did not perform any substantive procedures to test whether the performance obligations had been satisfied before revenue was recognized. (AS 2301.08 and .13) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 For certain customer contracts the firm did not perform any substantive procedures to test whether the performance obligations had been satisfied before revenue was recognized. (AS 2301.08 and .13) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Business Combination 2 AS 1105 10 During the year the issuer completed a business combination. The firm used issuer-prepared schedules in its substantive testing of this transaction but did not perform any procedures to test or test any controls over the accuracy of certain of these schedules. (AS 1105.10) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Certain Assets Fraud Risk 1 AS 1105 4 The firm did not evaluate the relevance and reliability of information it obtained from external sources that it used to test certain assets. (AS 1105.04 and .06) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Certain Assets Fraud Risk 1 AS 1105 6 The firm did not evaluate the relevance and reliability of information it obtained from external sources that it used to test certain assets. (AS 1105.04 and .06) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Other Liabilities Fraud Risk 2 AS 2301 8 The issuer recorded interest payable on certain liabilities. The firm did not evaluate the appropriateness of the interest rate that the issuer used to determine the amount of this liability. (AS 2301.08 and .13) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Other Liabilities Fraud Risk 2 AS 2301 13 The issuer recorded interest payable on certain liabilities. The firm did not evaluate the appropriateness of the interest rate that the issuer used to determine the amount of this liability. (AS 2301.08 and .13) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The issuer recognized certain revenue over time based on costs incurred to date relative to total estimated costs to complete the contract. The firm did not perform any substantive procedures to test whether costs incurred to date were allocated to the appropriate contract. (AS 2301.08 and .13) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The issuer recognized certain revenue over time based on costs incurred to date relative to total estimated costs to complete the contract. The firm did not perform any substantive procedures to test whether costs incurred to date were allocated to the appropriate contract. (AS 2301.08 and .13) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2501 16 The issuer recognized certain revenue over time based on costs incurred to date relative to total estimated costs to complete the contract. The firm did not perform any substantive procedures to evaluate the reasonableness of a significant assumption that the issuer used to develop the estimated total costs to complete the contracts. (AS 2501.16) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Warrants 1 AS 2301 8 The firm did not perform procedures beyond reading an issuer-prepared memorandum to evaluate whether the issuer's accounting for warrants as equity was in conformity with FASB ASC Topic 815 Derivatives and Hedging. (AS 2301.08) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Equity Significant Risk 2 AS 2301 8 The firm did not perform procedures to evaluate whether the issuer's accounting for redeemable stock as temporary equity was in conformity with FASB ASC Topic 480 Distinguishing Liabilities from Equity. (AS 2301.08 and .11) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A H No Financial statement audit only Audits with multiple deficiencies Equity Significant Risk 2 AS 2301 11 The firm did not perform procedures to evaluate whether the issuer's accounting for redeemable stock as temporary equity was in conformity with FASB ASC Topic 480 Distinguishing Liabilities from Equity. (AS 2301.08 and .11) Annually Inspected 100 WithumSmith+Brown, PC 2024 United States 2025-05-22T00:00:00 Part I.A I No Financial statement audit only Audits with a single deficiency Equity 1 AS 1105 A8b During the year the issuer engaged a specialist to assist it in determining the fair value of certain shares of its stock. The firm did not perform any procedures to evaluate the reasonableness of a significant assumption developed by the company's specialist. (AS 1105.A8b) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 42 The issuer determined the qualitative reserve component of the ACL using various qualitative factors. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's reviews of these qualitative factors. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain factors. (AS 2201.42 and .44) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 44 The issuer determined the qualitative reserve component of the ACL using various qualitative factors. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's reviews of these qualitative factors. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain factors. (AS 2201.42 and .44) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 39 The issuer determined the qualitative reserve component of the ACL using various qualitative factors. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's reviews of these qualitative factors. The firm did not identify and test any controls over the accuracy and completeness of certain loan information that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2501 16 The issuer determined the qualitative reserve component of the ACL using various qualitative factors. The following deficiencies were identified: · The firm's approach for substantively testing the ACL was to test the issuer's process. The firm did not sufficiently evaluate the reasonableness of certain significant assumptions the issuer used to develop the qualitative reserve component of the ACL because its procedures were limited to a year-over-year comparison of these significant assumptions. (AS 2501.16) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 42 The issuer engaged a specialist to assist it in determining the quantitative reserve component of the ACL using a model that was developed by the company's specialist. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the ACL. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the forecasting assumption developed by the company's specialist and used in the model. (AS 2201.42 and .44) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 44 The issuer engaged a specialist to assist it in determining the quantitative reserve component of the ACL using a model that was developed by the company's specialist. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the ACL. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the forecasting assumption developed by the company's specialist and used in the model. (AS 2201.42 and .44) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 2 AS 2201 39 The issuer engaged a specialist to assist it in determining the quantitative reserve component of the ACL using a model that was developed by the company's specialist. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's reconciliation of certain loan data but did not identify and test any controls over the completeness of certain reports that the control owner used in the operation of this control. (AS 2201.39) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 3 AS 1105 A8b The issuer engaged a specialist to assist it in determining the quantitative reserve component of the ACL using a model that was developed by the company's specialist. The following deficiencies were identified: · The firm did not evaluate the reasonableness of the forecasting significant assumption that was developed by the company's specialist and used in the model. (AS 1105.A8b) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Leases 1 AS 1105 10 The issuer recognized certain revenue based on product volumes delivered to its customers and accounted for certain of these arrangements as operating leases. The following deficiencies were identified: · The firm identified a control deficiency related to the issuer's lack of controls over the accuracy of the volume data. The firm used these volume data in its substantive testing of this revenue but did not perform any procedures to test the accuracy and completeness of these data. (AS 1105.10) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 1105 10 The issuer recognized certain revenue based on product volumes delivered to its customers and accounted for certain of these arrangements as operating leases. The following deficiencies were identified: · The firm identified a control deficiency related to the issuer's lack of controls over the accuracy of the volume data. The firm used these volume data in its substantive testing of this revenue but did not perform any procedures to test the accuracy and completeness of these data. (AS 1105.10) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Leases 2 AS 2201 39 The issuer recognized certain revenue based on product volumes delivered to its customers and accounted for certain of these arrangements as operating leases. The following deficiencies were identified: · The firm did not identify and test any controls that addressed whether the issuer's classification of certain arrangements as operating leases was appropriate. (AS 2201.39) Annually Inspected 173 Crowe LLP 2024 United States 2025-05-22T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 39 The issuer recognized certain revenue based on product volumes delivered to its customers and accounted for certain of these arrangements as operating leases. The following deficiencies were identified: · The firm did not identify and test any controls that addressed whether the issuer's classification of certain arrangements as operating leases was appropriate. (AS 2201.39) Triennially Inspected 199 CBIZ CPAs P.C. 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Long-Lived Assets 1 AS 2301 8 During the year the issuer completed an analysis to evaluate long-lived assets for recoverability because it identified events and changes in circumstances that indicated that the carrying amount may not be recoverable. The firm did not evaluate beyond inquiry and reading the issuer's analysis how this qualitative analysis supported the recoverability of the assets. (AS 2301.08) Annually Inspected 925 Cohen & Company, Ltd. 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Expenses Fraud Risk 1 AS 2301 8 The firm did not perform any substantive procedures to test the issuer's classification of certain expenses. (AS 2301.08 and .13) Annually Inspected 925 Cohen & Company, Ltd. 2024 United States 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Expenses Fraud Risk 1 AS 2301 13 The firm did not perform any substantive procedures to test the issuer's classification of certain expenses. (AS 2301.08 and .13) Triennially Inspected 1060 Deloitte & Touche 2024 Taiwan Deloitte Touche Tohmatsu Limited 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 39 The issuer used an information-technology system to calculate and record the cost of its inventory. The firm did not identify and test any controls over the calculation of the cost of inventory. (AS 2201.39) Triennially Inspected 1060 Deloitte & Touche 2024 Taiwan Deloitte Touche Tohmatsu Limited 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2301 16 The sample sizes the firm used in certain of its substantive procedures to test the valuation of inventory 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1060 Deloitte & Touche 2024 Taiwan Deloitte Touche Tohmatsu Limited 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2301 18 The sample sizes the firm used in certain of its substantive procedures to test the valuation of inventory 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1060 Deloitte & Touche 2024 Taiwan Deloitte Touche Tohmatsu Limited 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2301 37 The sample sizes the firm used in certain of its substantive procedures to test the valuation of inventory 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1060 Deloitte & Touche 2024 Taiwan Deloitte Touche Tohmatsu Limited 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2315 19 The sample sizes the firm used in certain of its substantive procedures to test the valuation of inventory 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1060 Deloitte & Touche 2024 Taiwan Deloitte Touche Tohmatsu Limited 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2315 23 The sample sizes the firm used in certain of its substantive procedures to test the valuation of inventory 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1060 Deloitte & Touche 2024 Taiwan Deloitte Touche Tohmatsu Limited 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2315 23A The sample sizes the firm used in certain of its substantive procedures to test the valuation of inventory 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 18 To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The firm selected for testing various automated controls over this revenue that consisted of the configuration of the information technology (IT) system to automatically perform certain functions based on pre-established parameters and the firm used a “test of one” approach to test these controls. The firm's testing of these automated controls using a sample of only one instance of each processing alternative was not sufficient because the firm did not evaluate the system functionality of these controls beyond inquiry of the issuer's personnel regarding their processing alternatives or perform other procedures that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2301.18) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 16 To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The firm selected for testing an IT dependent manual control over this revenue that consisted of management's review of the reconciliation of certain revenue transactions between two systems. The firm did not identify and test any controls over the accuracy and completeness of the system-generated information used in the operation of this control. (AS 2301.16) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 16 To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The sample sizes the firm used in certain of its substantive procedures to test this revenue 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 due to deficiencies in the firm's control testing described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 18 To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The sample sizes the firm used in certain of its substantive procedures to test this revenue 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 due to deficiencies in the firm's control testing described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 37 To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The sample sizes the firm used in certain of its substantive procedures to test this revenue 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 due to deficiencies in the firm's control testing described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 19 To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The sample sizes the firm used in certain of its substantive procedures to test this revenue 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 due to deficiencies in the firm's control testing described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 23 To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The sample sizes the firm used in certain of its substantive procedures to test this revenue 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 due to deficiencies in the firm's control testing described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 23A To reduce the extent of its substantive procedures for certain revenue the firm tested and placed reliance on controls. The following deficiencies were identified: · The sample sizes the firm used in certain of its substantive procedures to test this revenue 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 due to deficiencies in the firm's control testing described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 4 The firm used reports prepared by a third party to substantively test certain other revenue but did not perform any procedures to evaluate the relevance and reliability of these reports. (AS 1105.04 and .06) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 6 The firm used reports prepared by a third party to substantively test certain other revenue but did not perform any procedures to evaluate the relevance and reliability of these reports. (AS 1105.04 and .06) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 5 AS 2401 61 The firm identified a characteristic of potentially fraudulent entries or adjustments for testing but did not determine whether any journal entries met the characteristic. Instead the firm limited its testing of journal entries for this specific characteristic to haphazardly selected journal entries. (AS 2401.61) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 1 AS 2310 34 The firm did not request the confirmation of accounts receivable or document how it overcame the presumption to perform confirmation procedures. (AS 2310.34 and .35) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 1 AS 2310 35 The firm did not request the confirmation of accounts receivable or document how it overcame the presumption to perform confirmation procedures. (AS 2310.34 and .35) Triennially Inspected 1181 KPMG 2024 Hong Kong KPMG International Cooperative 2025-05-22T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Inventory 2 AS 2301 8 The firm did not perform any substantive procedures to test certain inventory. (AS 2301.08) Triennially Inspected 1521 EY S.p.A. 2023 Italy Ernst & Young Global Limited 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Revenue Significant Risk 1 AS 2501 16 The firm did not perform procedures to evaluate the reasonableness of a significant assumption used by the issuer to estimate the amount of revenue to recognize for certain sales agreements beyond inquiry of management. (AS 2501.16) Triennially Inspected 1755 SyCip Gorres Velayo & Co. 2024 Philippines Ernst & Young Global Limited 2025-05-22T00:00:00 Part I.A A Yes ICFR audit only Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 46 The principal auditor instructed the firm to test certain controls over long-lived assets that consisted of the issuer's monthly reconciliation of certain accounts and monthly and quarterly reviews of accrued capital expenditures. The number of items selected for testing did not provide sufficient appropriate audit evidence that the controls were operating effectively because the firm did not test the number of items that it determined necessary. (AS 2201.46) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 1 AS 1105 4 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · The firm did not perform procedures to evaluate the relevance and reliability of certain external data it used to test realized gains/losses beyond documenting the methodology used by the external party to price the digital assets. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 1 AS 1105 6 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · The firm did not perform procedures to evaluate the relevance and reliability of certain external data it used to test realized gains/losses beyond documenting the methodology used by the external party to price the digital assets. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 2 AS 2301 8 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · For the items selected related to the first type of transaction the firm did not sufficiently test the quantity of digital assets transferred because its procedures were limited to testing the quantity of digital assets received which were a different type of asset than the assets transferred. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 2 AS 2301 13 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · For the items selected related to the first type of transaction the firm did not sufficiently test the quantity of digital assets transferred because its procedures were limited to testing the quantity of digital assets received which were a different type of asset than the assets transferred. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 3 AS 2301 8 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · For certain items selected related to the second type of transaction the firm did not evaluate the appropriateness of the issuer's recognition of realized gains/losses. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 3 AS 2301 13 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · For certain items selected related to the second type of transaction the firm did not evaluate the appropriateness of the issuer's recognition of realized gains/losses. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 4 AS 1105 4 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · For certain items selected related to the second type of transaction the firm did not evaluate the reliability of certain external data used as audit evidence in testing certain of these transactions. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 4 AS 1105 6 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · For certain items selected related to the second type of transaction the firm did not evaluate the reliability of certain external data used as audit evidence in testing certain of these transactions. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 5 AS 2301 8 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · The firm did not perform any procedures to test the remaining population of realized gains/losses on the sale of digital assets. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 5 AS 2301 13 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · The firm did not perform any procedures to test the remaining population of realized gains/losses on the sale of digital assets. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 6 AS 2810 30 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · The firm did not identify and evaluate departures from the applicable accounting standards related to the presentation and disclosure of digital asset transactions. (AS 2810.30 and .31) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Fraud Risk 6 AS 2810 31 The issuer recognized realized gains/losses on the sale of digital assets through two different types of transactions. The firm's substantive procedures to test these realized gains/losses included testing a sample of transactions for each transaction type. The following deficiencies were identified: · The firm did not identify and evaluate departures from the applicable accounting standards related to the presentation and disclosure of digital asset transactions. (AS 2810.30 and .31) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 7 AS 2501 7 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The firm did not perform any procedures to test the impairment of certain long-lived assets. (AS 2501.07) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 8 AS 1105 4 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · For certain other long-lived assets the firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions used in the impairment calculations. Specifically it did not evaluate significant differences between the assumptions and (i) similar significant assumptions used by the issuer in another estimate (ii) industry information and/or (iii) information from an external source. Further the firm did not perform procedures to evaluate the relevance and/or reliability of the industry information and information from the external source. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 8 AS 1105 6 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · For certain other long-lived assets the firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions used in the impairment calculations. Specifically it did not evaluate significant differences between the assumptions and (i) similar significant assumptions used by the issuer in another estimate (ii) industry information and/or (iii) information from an external source. Further the firm did not perform procedures to evaluate the relevance and/or reliability of the industry information and information from the external source. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 8 AS 2501 16 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · For certain other long-lived assets the firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions used in the impairment calculations. Specifically it did not evaluate significant differences between the assumptions and (i) similar significant assumptions used by the issuer in another estimate (ii) industry information and/or (iii) information from an external source. Further the firm did not perform procedures to evaluate the relevance and/or reliability of the industry information and information from the external source. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 2301 8 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The firm did not perform any procedures to test another portion of an impairment including whether it was appropriate to record the impairment. (AS 2301.08 and .11) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 2301 11 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The firm did not perform any procedures to test another portion of an impairment including whether it was appropriate to record the impairment. (AS 2301.08 and .11) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 10 AS 1105 4 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the relevance and reliability of certain information from external sources that the issuer used in an impairment calculation. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 10 AS 1105 6 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the relevance and reliability of certain information from external sources that the issuer used in an impairment calculation. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 11 AS 1105 A8b The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The issuer engaged an external specialist to estimate the impairment for certain other long-lived assets. The firm did not perform any procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist. (AS 1105.A8b; AS 2501.16) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 11 AS 2501 16 The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The issuer engaged an external specialist to estimate the impairment for certain other long-lived assets. The firm did not perform any procedures to evaluate the reasonableness of the significant assumptions used by the company's specialist. (AS 1105.A8b; AS 2501.16) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 12 AS 1105 A8a The issuer recorded impairments related to certain long-lived assets during the year. The following deficiencies were identified: · The issuer engaged an external specialist to estimate the impairment for certain other long-lived assets. The firm did not perform any procedures to (i) test the accuracy and completeness of issuer-produced information and (ii) evaluate the relevance and reliability of information from external sources that were both used by the company's specialist. (AS 1105.A8a) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 13 AS 2501 16 The firm did not perform sufficient procedures to evaluate the useful lives for certain long-lived assets because it did not evaluate the significant differences between this assumption the significant assumption used by the issuer in an impairment calculation and industry information. (AS 2501.16) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 14 AS 1105 10 The firm did not perform procedures to test or identify and test any controls over the accuracy of certain data included in certain system-generated reports that it used in its substantive procedures over depreciation expense. (AS 1105.10) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 15 AS 2301 8 The issuer earned revenue through cryptocurrency mining. The firm did not perform any procedures to evaluate (1) the terms and conditions of the issuer's arrangements with its mining pool operators and (2) the method used by the mining pool operators to allocate consideration to the issuer. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 15 AS 2301 13 The issuer earned revenue through cryptocurrency mining. The firm did not perform any procedures to evaluate (1) the terms and conditions of the issuer's arrangements with its mining pool operators and (2) the method used by the mining pool operators to allocate consideration to the issuer. (AS 2301.08 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 16 AS 1105 4 The firm did not perform procedures to evaluate the relevance and/or reliability of certain external data it used to substantively test this revenue beyond documenting the methodology used by one source to price crypto assets. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 16 AS 1105 6 The firm did not perform procedures to evaluate the relevance and/or reliability of certain external data it used to substantively test this revenue beyond documenting the methodology used by one source to price crypto assets. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Fraud Risk 1 AS 2301 19 The issuer recorded a significant account based on estimates. The firm identified and tested controls to reduce the nature timing and extent of its substantive procedures to test this significant account. The following deficiencies were identified: · The firm selected for testing controls over the review of certain aspects of this significant account. The firm did not perform procedures to evaluate the specific review procedures that the control owners performed to (i) evaluate the reasonableness of the assumptions (ii) evaluate whether data was appropriately used in determining the estimate and (iii) test the accuracy and completeness of certain information used in the performance of these controls. (AS 2301.19 and .21) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Fraud Risk 1 AS 2301 21 The issuer recorded a significant account based on estimates. The firm identified and tested controls to reduce the nature timing and extent of its substantive procedures to test this significant account. The following deficiencies were identified: · The firm selected for testing controls over the review of certain aspects of this significant account. The firm did not perform procedures to evaluate the specific review procedures that the control owners performed to (i) evaluate the reasonableness of the assumptions (ii) evaluate whether data was appropriately used in determining the estimate and (iii) test the accuracy and completeness of certain information used in the performance of these controls. (AS 2301.19 and .21) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Fraud Risk 2 AS 2301 16 The issuer recorded a significant account based on estimates. The firm identified and tested controls to reduce the nature timing and extent of its substantive procedures to test this significant account. The following deficiencies were identified: · The firm selected for testing certain other controls over this significant account. The firm did not perform sufficient procedures to test the design and operating effectiveness of these controls because it did not obtain evidence that these controls were designed effectively and operating effectively during the entire period of reliance. (AS 2301.16) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Account Fraud Risk 3 AS 2501 7 The issuer recorded a significant account based on estimates. The firm identified and tested controls to reduce the nature timing and extent of its substantive procedures to test this significant account. The following deficiencies were identified: · The firm did not perform substantive procedures to test this significant account beyond performing a retrospective analytical review testing certain data used to determine the estimate and comparing activity reports for this significant account to the general ledger. (AS 2501.07) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Fraud Risk 4 AS 2501 7 The issuer reported goodwill and intangible assets. The firm did not perform procedures beyond (i) obtaining and reading the issuer's analyses and/or press releases (ii) performing sensitivity analyses and (iii) performing certain tests of mathematical accuracy to test certain of the issuer's impairment analyses including consideration of contrary evidence in the work papers for one of the analyses. (AS 2501.07; AS 2810.03) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Fraud Risk 4 AS 2810 3 The issuer reported goodwill and intangible assets. The firm did not perform procedures beyond (i) obtaining and reading the issuer's analyses and/or press releases (ii) performing sensitivity analyses and (iii) performing certain tests of mathematical accuracy to test certain of the issuer's impairment analyses including consideration of contrary evidence in the work papers for one of the analyses. (AS 2501.07; AS 2810.03) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 5 AS 2401 61 The firm identified certain fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not examine the underlying support for the journal entries. (AS 2401.61) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 8 The firm did not perform sufficient procedures to evaluate the terms and conditions in the issuer's contracts for certain types of revenue to determine their effect on the recognition of this revenue because it limited its procedures to evaluating the terms and conditions of one contract for certain of these types of revenue. (AS 2301.08 .11 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 11 The firm did not perform sufficient procedures to evaluate the terms and conditions in the issuer's contracts for certain types of revenue to determine their effect on the recognition of this revenue because it limited its procedures to evaluating the terms and conditions of one contract for certain of these types of revenue. (AS 2301.08 .11 and .13) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 2 AS 2301 8 The firm did not perform substantive procedures to test the presentation of certain types of revenue. (AS 2301.08) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 3 AS 2301 8 The firm did not perform procedures to evaluate whether certain other revenue was recognized in conformity with the applicable accounting standard beyond reading the issuer's revenue recognition policy. (AS 2301.08) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 4 AS 1105 4 The firm did not perform any procedures to evaluate the relevance and reliability of certain information it obtained from external sources and used in its substantive procedures. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 4 AS 1105 6 The firm did not perform any procedures to evaluate the relevance and reliability of certain information it obtained from external sources and used in its substantive procedures. (AS 1105.04 and .06) Triennially Inspected 2814 PKF Littlejohn LLP 2023 United Kingdom 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 5 AS 2401 61 The firm identified certain fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not examine the underlying support for the journal entries. (AS 2401.61) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 The issuer used two information-technology (IT) systems to initiate process and/or record transactions related to certain revenue recognized at various locations. In its testing of controls over this revenue the firm tested two IT-dependent manual controls that used data and reports generated or maintained by these IT systems. The accuracy and completeness of these data and reports depended on effective IT general controls (ITGCs). The firm however did not test the operating effectiveness of the ITGCs over these IT systems. (AS 2201.44) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 46 The issuer used two information-technology (IT) systems to initiate process and/or record transactions related to certain revenue recognized at various locations. In its testing of controls over this revenue the firm tested two IT-dependent manual controls that used data and reports generated or maintained by these IT systems. The accuracy and completeness of these data and reports depended on effective IT general controls (ITGCs). As a result of the deficiency in the firm's testing of ITGCs the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 44 The firm identified certain of the issuer's locations as “in-scope” locations for purposes of testing controls over the revenue. The firm selected for testing certain controls over the processing and recording of the revenue that consisted of the issuer's review and/or approval of (1) the detail sales price list (2) sales price and other information in contracts (3) certain sales reports and (4) changes in estimated contract costs. The following deficiencies were identified: · The firm did not perform sufficient procedures to test the operating effectiveness of these controls because the firm did not test the operating effectiveness of the controls at certain “in-scope” locations which reported a significant amount of the revenue. (AS 2201.44) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 The firm identified certain of the issuer's locations as “in-scope” locations for purposes of testing controls over the revenue. The firm selected for testing certain controls over the processing and recording of the revenue that consisted of the issuer's review and/or approval of (1) the detail sales price list (2) sales price and other information in contracts (3) certain sales reports and (4) changes in estimated contract costs. The following deficiencies were identified: · The firm did not perform any procedures to test or test any controls over the accuracy and completeness of the lists from which it selected its samples for testing. (AS 1105.10) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2201 42 The firm identified certain of the issuer's locations as “in-scope” locations for purposes of testing controls over the revenue. The firm selected for testing certain controls over the processing and recording of the revenue that consisted of the issuer's review and/or approval of (1) the detail sales price list (2) sales price and other information in contracts (3) certain sales reports and (4) changes in estimated contract costs. The following deficiencies were identified: · For two of these controls both of which involved the issuer's review of estimated revenue and contract costs the firm did not evaluate the specific review procedures that the control owners performed to assess the appropriateness of these estimates. (AS 2201.42 and .44) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2201 44 The firm identified certain of the issuer's locations as “in-scope” locations for purposes of testing controls over the revenue. The firm selected for testing certain controls over the processing and recording of the revenue that consisted of the issuer's review and/or approval of (1) the detail sales price list (2) sales price and other information in contracts (3) certain sales reports and (4) changes in estimated contract costs. The following deficiencies were identified: · For two of these controls both of which involved the issuer's review of estimated revenue and contract costs the firm did not evaluate the specific review procedures that the control owners performed to assess the appropriateness of these estimates. (AS 2201.42 and .44) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2201 39 For certain other revenue the following deficiencies were identified: · The firm selected for testing a control over the processing and recording of this other revenue that consisted of the issuer's review and approval of the revenue distribution. The firm did not identify and test any controls over the accuracy and completeness of a report used in the operation of this control. (AS 2201.39) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 7 AS 1105 10 For certain other revenue the following deficiencies were identified: · The firm used issuer-prepared reports to substantively test this other revenue but did not perform any procedures to test or test any controls over the accuracy and completeness of these reports. (AS 1105.10) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 8 AS 2201 39 During the year the issuer identified events indicating that the carrying value of its long-lived assets may not be recoverable and performed an impairment analysis for each project. The firm's approach for testing the impairment of long-lived assets was to test the issuer's process and the firm identified certain of the issuer's locations as “in-scope” locations for purposes of testing long-lived assets for possible impairment. The following deficiencies were identified: · The firm did not identify and test any controls over the issuer's evaluation of long-lived assets for possible impairment. (AS 2201.39) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 9 AS 2301 8 During the year the issuer identified events indicating that the carrying value of its long-lived assets may not be recoverable and performed an impairment analysis for each project. The firm's approach for testing the impairment of long-lived assets was to test the issuer's process and the firm identified certain of the issuer's locations as “in-scope” locations for purposes of testing long-lived assets for possible impairment. The following deficiencies were identified: · The firm did not perform sufficient procedures to test the impairment of long-lived assets because the firm did not test such assets for possible impairment at certain “in-scope” locations which held a significant portion of the issuer's long-lived assets. (AS 2301.08) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 10 AS 1105 10 During the year the issuer identified events indicating that the carrying value of its long-lived assets may not be recoverable and performed an impairment analysis for each project. The firm's approach for testing the impairment of long-lived assets was to test the issuer's process and the firm identified certain of the issuer's locations as “in-scope” locations for purposes of testing long-lived assets for possible impairment. The following deficiencies were identified: · The firm used an issuer-prepared report to substantively test long-lived assets for possible impairment but did not perform any procedures to test or test any controls over the accuracy and completeness of this report. (AS 1105.10) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative standalone selling prices (SSPs). The firm selected a sample of transactions to test revenue. The following deficiencies were identified: · The firm used issuer-prepared reports to substantively test revenue but did not perform any procedures to test or test any controls over the accuracy and completeness of these reports. (AS 1105.10) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative standalone selling prices (SSPs). The firm selected a sample of transactions to test revenue. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the appropriateness of the issuer's (1) determination of transaction price and (2) allocation of the transaction price to each performance obligation because the firm did not evaluate the effect of a sales discount on the transaction price and did not test the SSPs used to allocate revenue to the separate performance obligations. (AS 2301.08 and .13) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative standalone selling prices (SSPs). The firm selected a sample of transactions to test revenue. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the appropriateness of the issuer's (1) determination of transaction price and (2) allocation of the transaction price to each performance obligation because the firm did not evaluate the effect of a sales discount on the transaction price and did not test the SSPs used to allocate revenue to the separate performance obligations. (AS 2301.08 and .13) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 10 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative standalone selling prices (SSPs). The firm selected a sample of transactions to test revenue. The following deficiencies were identified: · The issuer recognized certain revenue based on electronic activity. The firm used activity information produced by the issuer to evaluate whether the issuer satisfied its performance obligations related to this revenue but did not perform any procedures to test or test any controls over the accuracy and completeness of this information. (AS 1105.10) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 8 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative standalone selling prices (SSPs). The firm selected a sample of transactions to test revenue. The following deficiencies were identified: · The issuer recognized certain other revenue over the performance period. The firm did not perform sufficient procedures to test whether the issuer satisfied its performance obligations because the firm did not evaluate the reasonableness of the performance period. (AS 2301.08 and .13) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 13 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative standalone selling prices (SSPs). The firm selected a sample of transactions to test revenue. The following deficiencies were identified: · The issuer recognized certain other revenue over the performance period. The firm did not perform sufficient procedures to test whether the issuer satisfied its performance obligations because the firm did not evaluate the reasonableness of the performance period. (AS 2301.08 and .13) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 5 AS 1105 10 Payments collected by the issuer were applied to the oldest outstanding accounts receivable balance first. The firm used a system-generated accounts receivable aging report to substantively test the allowance for doubtful accounts but did not perform procedures to test or test any controls over the accuracy of the report beyond agreeing a sample of balances from the accounts receivable aging report to the respective billings. (AS 1105.10) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Variable Interest Entities 6 AS 2301 8 The issuer derives revenue through consolidated VIEs and their subsidiaries and relies on contractual arrangements with the VIEs and their shareholders to control the business operations of the consolidated VIEs. The firm did not perform sufficient procedures to test the issuer's ability to consolidate the VIEs because it did not perform any procedures to evaluate the nature of certain uncertainties disclosed by the issuer regarding (1) the validity of the contractual arrangements with the VIEs and their subsidiaries (2) the structure of the VIEs and (3) its ability to enforce the contractual arrangements and perform additional procedures to address the risks associated with those uncertainties. (AS 2301.08) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 7 AS 2410 17 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and 31) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 7 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and 31) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 7 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and 31) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2501 10 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative SSPs. The firm's approach for testing the allocation of revenue to the separate performance obligations was to test the issuer's process. The following deficiencies were identified: · The firm did not sufficiently evaluate whether the residual method that the issuer used to allocate the transaction price to the separate performance obligations was in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers because the firm did not evaluate whether the SSPs of certain performance obligations were highly variable. (AS 2501.10) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2501 16 The issuer recognized revenue from contracts that included multiple performance obligations and allocated the total transaction price to the separate performance obligations based on relative SSPs. The firm's approach for testing the allocation of revenue to the separate performance obligations was to test the issuer's process. The following deficiencies were identified: · The firm did not sufficiently evaluate whether the issuer had a reasonable basis for the SSP of a performance obligation for certain transactions. (AS 2501.16) Triennially Inspected 6783 Assentsure PAC 2024 Singapore 2025-05-22T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Variable Interest Entities 3 AS 2301 8 The issuer derives revenue through a consolidated Variable Interest Entity (VIE) and its subsidiaries and relies on contractual arrangements with the VIE and its shareholders to control the business operations of the consolidated VIE. The firm did not perform sufficient procedures to test the issuer's ability to consolidate the VIE because it did not perform any procedures to evaluate the nature of certain uncertainties disclosed by the issuer regarding (1) the validity of the contractual arrangements with the VIE and its subsidiaries (2) the structure of the VIE and (3) its ability to enforce the contractual arrangements and perform additional procedures to address the risks associated with those uncertainties. (AS 2301.08) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 1 AS 2301 16 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The firm did not identify and test controls over the accuracy and completeness of system reports that the issuer used in the operation of its controls that the firm selected for testing. (AS 2301.16) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 16 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The firm did not identify and test controls over the accuracy and completeness of system reports that the issuer used in the operation of its controls that the firm selected for testing. (AS 2301.16) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2301 16 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 16 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2301 18 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 18 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2301 37 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 37 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2315 19 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 19 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2315 23 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 23 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 2 AS 2315 23A The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 23A The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm's approach to testing certain revenue included reliance on controls. The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of control reliance that was not supported due to the deficiency described above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 3 AS 2301 41 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm did not perform any procedures to examine a material adjustment the issuer made to revenue during the course of preparing the financial statements. (AS 2301.41) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 41 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm did not perform any procedures to examine a material adjustment the issuer made to revenue during the course of preparing the financial statements. (AS 2301.41) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deferred Revenue 4 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm did not perform any procedures to test or identify and test controls over as discussed above the accuracy and completeness of a report used by the firm to test certain deferred revenue. (AS 1105.10) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm did not perform any procedures to test or identify and test controls over as discussed above the accuracy and completeness of a report used by the firm to test certain deferred revenue. (AS 1105.10) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 5 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm selected a sample of invoices to test accounts receivable. The firm did not perform sufficient procedures to test certain invoices because the firm limited its procedures to reviewing the invoice and inquiry of management. (AS 2301.08) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 6 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm did not perform any procedures to test or identify and test controls over the accuracy and completeness of certain reports it used to test the allowance for doubtful accounts. (AS 1105.10) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 7 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not test the existence completeness accuracy and fair value of the tangible assets acquired and liabilities assumed as of the acquisition date. (AS 2301.08; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 7 AS 2501 7 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not test the existence completeness accuracy and fair value of the tangible assets acquired and liabilities assumed as of the acquisition date. (AS 2301.08; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A1 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A10 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A2 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A3 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A4 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A5 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A6 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A7 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A8 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 1105 A9 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 8 AS 2501 7 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not perform procedures to test the fair value of the intangible assets and certain of the paid consideration beyond obtaining the draft report from the company's specialist. Further the firm did not perform procedures with respect to its use of the work of the company's specialist as audit evidence beyond testing certain terms related to the paid consideration and performing certain recalculations. (AS 1105.A1 - .A10; AS 2501.07) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 9 AS 2810 30 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure related to this business combination required by FASB ASC Topic 805 Business Combinations. (AS 2810.30 and .31) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Business Combination 9 AS 2810 31 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. During the year the issuer acquired a business and engaged an external specialist to assist in determining the fair value of the consideration and intangible assets. The following deficiency was identified: · The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure related to this business combination required by FASB ASC Topic 805 Business Combinations. (AS 2810.30 and .31) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 10 AS 2401 61 The firm's internal inspection program had inspected this audit and reviewed certain of these areas and identified the deficiencies below in the related areas reviewed. The firm did not consider fraud characteristics in identifying and selecting journal entries and other adjustments for testing. (AS 2401.61) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 1 AS 2810 30 During the year the issuer acquired a business. The firm did not identify and evaluate a departure from GAAP related to the issuer's valuation of the acquiree's investment in the acquirer. (AS 2810.30) Unrelated to our review the issuer reevaluated its accounting for this acquisition and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 2 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure related to this business combination required by FASB ASC Topic 805. (AS 2810.30 and .31) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 2 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure related to this business combination required by FASB ASC Topic 805. (AS 2810.30 and .31) Triennially Inspected 76 Turner, Stone & Company, L.L.P. 2024 United States 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with a single deficiency Investment 1 AS 1105 10 The issuer performed a qualitative assessment of impairment of an investment and concluded that it was not impaired. The firm did not perform procedures beyond inquiry to test the accuracy of certain issuer-produced information included in the assessment to support the issuer's conclusion. (AS 1105.10) Triennially Inspected 273 Prager Metis CPAs, LLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets 1 AS 2301 8 The firm did not perform procedures to evaluate the issuer's conclusion that there were no indicators of potential impairment related to its intangible assets even though the firm was aware that such conditions existed. (AS 2301.08; AS 2810.03) Triennially Inspected 273 Prager Metis CPAs, LLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets 1 AS 2810 3 The firm did not perform procedures to evaluate the issuer's conclusion that there were no indicators of potential impairment related to its intangible assets even though the firm was aware that such conditions existed. (AS 2301.08; AS 2810.03) Triennially Inspected 273 Prager Metis CPAs, LLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient procedures to test those journal entries because it limited its procedures to certain entries without having an appropriate rationale. (AS 2401.61) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2315 16 The firm's substantive procedures to test certain revenue included testing a sample of transactions. The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including the relationship of the samples to the relevant audit objective and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2315 19 The firm's substantive procedures to test certain revenue included testing a sample of transactions. The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including the relationship of the samples to the relevant audit objective and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2315 23 The firm's substantive procedures to test certain revenue included testing a sample of transactions. The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including the relationship of the samples to the relevant audit objective and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2315 23A The firm's substantive procedures to test certain revenue included testing a sample of transactions. The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including the relationship of the samples to the relevant audit objective and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2310 29 The firm sent positive confirmation requests via email to a sample of customers as part of its substantive testing of accounts receivable and the email address for each customer was provided by the issuer. The firm received the responses for all but one of the confirmation requests sent via email. The firm did not consider performing procedures to address the risks associated with electronic responses such as verifying the source of the confirmation responses. (AS 2310.29) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2201 39 The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm selected for testing certain controls over the reserve estimates that consisted of the issuer's (1) review of changes to the expected future production volumes (“production profile”) (2) review of key assumptions within the remaining expected production profile estimates (3) assessment of deviations between the expected reserve estimates the company's employed specialists developed and the expected reserve estimates the company's engaged specialist developed (4) review of changes in proved developed and undeveloped reserves (5) review of the proved reserve estimates volumetric inputs in the standardized measure of value and (6) review of the final proved reserve estimates. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of certain non-financial data the issuer produced and/or the evaluation of the relevance and reliability of certain non-financial data from external sources that was (1) used in developing the reserves production profiles and/or standardized measure of value (2) used in the operation of certain of the above controls and (3) provided to the company's engaged specialist to evaluate the issuer's reserve estimates. (AS 2201.39) · The firm did not identify and test any controls over the reasonableness of the methods and assumptions the company's employed specialists used to develop the reserve estimates. (AS 2201.39) · The firm did not evaluate the specific review procedures that the control owners performed to evaluate the accuracy and completeness of the underlying non-financial data used in developing the reserves production profiles and/or standardized measure of value used in the operation of certain of the above controls. (AS 2201.42 and .44) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 4 AS 2201 39 The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm selected for testing certain controls over the reserve estimates that consisted of the issuer's (1) review of changes to the expected future production volumes (“production profile”) (2) review of key assumptions within the remaining expected production profile estimates (3) assessment of deviations between the expected reserve estimates the company's employed specialists developed and the expected reserve estimates the company's engaged specialist developed (4) review of changes in proved developed and undeveloped reserves (5) review of the proved reserve estimates volumetric inputs in the standardized measure of value and (6) review of the final proved reserve estimates. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of certain non-financial data the issuer produced and/or the evaluation of the relevance and reliability of certain non-financial data from external sources that was (1) used in developing the reserves production profiles and/or standardized measure of value (2) used in the operation of certain of the above controls and (3) provided to the company's engaged specialist to evaluate the issuer's reserve estimates. (AS 2201.39) · The firm did not identify and test any controls over the reasonableness of the methods and assumptions the company's employed specialists used to develop the reserve estimates. (AS 2201.39) · The firm did not evaluate the specific review procedures that the control owners performed to evaluate the accuracy and completeness of the underlying non-financial data used in developing the reserves production profiles and/or standardized measure of value used in the operation of certain of the above controls. (AS 2201.42 and .44) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 5 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm selected for testing certain controls over the reserve estimates that consisted of the issuer's (1) review of changes to the expected future production volumes (“production profile”) (2) review of key assumptions within the remaining expected production profile estimates (3) assessment of deviations between the expected reserve estimates the company's employed specialists developed and the expected reserve estimates the company's engaged specialist developed (4) review of changes in proved developed and undeveloped reserves (5) review of the proved reserve estimates volumetric inputs in the standardized measure of value and (6) review of the final proved reserve estimates. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of certain non-financial data the issuer produced and/or the evaluation of the relevance and reliability of certain non-financial data from external sources that was (1) used in developing the reserves production profiles and/or standardized measure of value (2) used in the operation of certain of the above controls and (3) provided to the company's engaged specialist to evaluate the issuer's reserve estimates. (AS 2201.39) · The firm did not identify and test any controls over the reasonableness of the methods and assumptions the company's employed specialists used to develop the reserve estimates. (AS 2201.39) · The firm did not evaluate the specific review procedures that the control owners performed to evaluate the accuracy and completeness of the underlying non-financial data used in developing the reserves production profiles and/or standardized measure of value used in the operation of certain of the above controls. (AS 2201.42 and .44) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 5 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm selected for testing certain controls over the reserve estimates that consisted of the issuer's (1) review of changes to the expected future production volumes (“production profile”) (2) review of key assumptions within the remaining expected production profile estimates (3) assessment of deviations between the expected reserve estimates the company's employed specialists developed and the expected reserve estimates the company's engaged specialist developed (4) review of changes in proved developed and undeveloped reserves (5) review of the proved reserve estimates volumetric inputs in the standardized measure of value and (6) review of the final proved reserve estimates. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy and completeness of certain non-financial data the issuer produced and/or the evaluation of the relevance and reliability of certain non-financial data from external sources that was (1) used in developing the reserves production profiles and/or standardized measure of value (2) used in the operation of certain of the above controls and (3) provided to the company's engaged specialist to evaluate the issuer's reserve estimates. (AS 2201.39) · The firm did not identify and test any controls over the reasonableness of the methods and assumptions the company's employed specialists used to develop the reserve estimates. (AS 2201.39) · The firm did not evaluate the specific review procedures that the control owners performed to evaluate the accuracy and completeness of the underlying non-financial data used in developing the reserves production profiles and/or standardized measure of value used in the operation of certain of the above controls. (AS 2201.42 and .44) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 6 AS 1105 A8a The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Perform procedures to test or test any controls over the accuracy and completeness of certain non-financial data the issuer prepared and the company's employed specialists used to develop the reserve estimates; (AS 1105.A8a) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 7 AS 1105 A8a The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Evaluate the relevance and reliability of external non-financial data the company's employed specialists used to develop the reserve estimates; (AS 1105.A8a) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 8 AS 1105 A8b The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Evaluate the reasonableness of the significant assumptions developed by the issuer and the company's employed specialists that were used by the company's employed specialists to develop the reserve estimates; (AS 1105.A8b; AS 2501.16) and Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 8 AS 2501 16 The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Evaluate the reasonableness of the significant assumptions developed by the issuer and the company's employed specialists that were used by the company's employed specialists to develop the reserve estimates; (AS 1105.A8b; AS 2501.16) and Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A8c The firm's internal inspection program had inspected this audit and reviewed the Long-Lived Assets area but did not identify certain of the deficiencies below related to this area. The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its proved and expected oil and gas reserves (“reserve estimates”). Proved reserves were used in the calculation of depreciation depletion and amortization of production plants and oil and gas assets and expected reserve estimates were used in the impairment analyses of production plants and oil and gas assets including assets under development. The issuer also engaged an external specialist (company's engaged specialist) to evaluate its proved reserve estimates. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Evaluate whether the methods the company's employed specialists used to develop the reserve estimates were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework. (AS 1105.A8c) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Receivables 1 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. Among other procedures the principal auditor instructed the firm to (1) compare the contract terms of receivables acquired during the year to the contract summary to ensure that it provided a complete and accurate reflection of the contract details and (2) test the accuracy of key customer data in the component's customer collections system. The firm did not perform these substantive procedures as instructed by the principal auditor. (AS 2301.08) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 2 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm selected for testing certain controls over deposit liabilities that consisted of the issuer's reconciliation and review of deposit payment requests. The firm did not evaluate the specific review procedures that the control owners performed to ensure that deposits were not refunded incorrectly or fraudulently in the approval of withdrawal requests and to ensure the accuracy of the interest-bearing deposits account reconciliations. (AS 2201.42 and .44) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 2 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm selected for testing certain controls over deposit liabilities that consisted of the issuer's reconciliation and review of deposit payment requests. The firm did not evaluate the specific review procedures that the control owners performed to ensure that deposits were not refunded incorrectly or fraudulently in the approval of withdrawal requests and to ensure the accuracy of the interest-bearing deposits account reconciliations. (AS 2201.42 and .44) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 3 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The firm did not perform any substantive procedures to test withdrawal activity during the year. (AS 2301.08) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 4 AS 2301 45 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The firm did not perform any procedures to extend its conclusions regarding the existence and completeness of deposit liabilities from the interim date in which the audit procedures were performed to year-end. (AS 2301.45) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 5 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The firm did not perform procedures to test or test any controls over the completeness of the report from which it selected its samples for testing beyond reviewing the parameters used to generate the report. (AS 1105.10) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 6 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The firm did not examine the support for customer statements and proof of deposits in the accounting system as it had communicated to the principal auditor. (AS 2301.08) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 7 AS 2301 16 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The sample size the firm used in its substantive procedures to test deposit liabilities was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 7 AS 2301 18 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The sample size the firm used in its substantive procedures to test deposit liabilities was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 7 AS 2301 37 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The sample size the firm used in its substantive procedures to test deposit liabilities was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 7 AS 2315 19 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The sample size the firm used in its substantive procedures to test deposit liabilities was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 7 AS 2315 23 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The sample size the firm used in its substantive procedures to test deposit liabilities was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1572 Ernst & Young AS 2023 Norway Ernst & Young Global Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 7 AS 2315 23A The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm's substantive procedures to test the existence and completeness of deposit liabilities included sending positive confirmation requests to a sample of customers to confirm the deposits that they made through an interim date. The firm communicated to the principal auditor that it had also examined support for customer account statements and proof of deposits in the accounting system. The following deficiency was identified: · The sample size the firm used in its substantive procedures to test deposit liabilities was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 1 AS 2301 18 The issuer used multiple information-technology (IT) systems to initiate process and record inventory and inventory-related transactions. The firm relied on controls it selected for testing in its approach to testing inventory. In its testing of controls over inventory the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) over certain of these IT systems the firm's testing of these automated and IT-dependent controls was not sufficient. (AS 2301.18) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 2 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record inventory and inventory-related transactions. The firm relied on controls it selected for testing in its approach to testing inventory. In its testing of controls over inventory the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ? The firm selected for testing certain controls over change management and user access but did not perform procedures to test or test any controls over the completeness of the population of items from which it made its selections for testing. (AS 1105.10) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 19 The issuer used multiple information-technology (IT) systems to initiate process and record inventory and inventory-related transactions. The firm relied on controls it selected for testing in its approach to testing inventory. In its testing of controls over inventory the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ? The firm selected for testing a control that consisted of the issuer's periodic review of user access to one of its IT systems. The firm however did not perform procedures to test the design and operating effectiveness of this control. (AS 2301.19 and .21) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 21 The issuer used multiple information-technology (IT) systems to initiate process and record inventory and inventory-related transactions. The firm relied on controls it selected for testing in its approach to testing inventory. In its testing of controls over inventory the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ? The firm selected for testing a control that consisted of the issuer's periodic review of user access to one of its IT systems. The firm however did not perform procedures to test the design and operating effectiveness of this control. (AS 2301.19 and .21) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2301 16 The issuer used multiple information-technology (IT) systems to initiate process and record inventory and inventory-related transactions. The firm relied on controls it selected for testing in its approach to testing inventory. In its testing of controls over inventory the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ? The firm selected for testing a control over the authorization and restriction of privileged access to one of its systems. The firm did not perform sufficient procedures to test this control because it limited its procedures to testing that one type of privileged access was restricted at a point in time during the year. (AS 2301.16 and .21) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2301 21 The issuer used multiple information-technology (IT) systems to initiate process and record inventory and inventory-related transactions. The firm relied on controls it selected for testing in its approach to testing inventory. In its testing of controls over inventory the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ? The firm selected for testing a control over the authorization and restriction of privileged access to one of its systems. The firm did not perform sufficient procedures to test this control because it limited its procedures to testing that one type of privileged access was restricted at a point in time during the year. (AS 2301.16 and .21) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 5 AS 2301 34 The issuer used multiple information-technology (IT) systems to initiate process and record inventory and inventory-related transactions. The firm relied on controls it selected for testing in its approach to testing inventory. In its testing of controls over inventory the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ? For one of its IT systems the firm identified control deficiencies related to (1) developers having inappropriate access to the production environment and (2) the lack of monitoring of user activity. The firm did not evaluate the severity of these deficiencies and the effect on its control risk assessments. (AS 2301.34) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2301 19 The firm selected for testing certain controls that consisted of the issuer's review of the costs at which inventory is recorded. For these controls the firm 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 2301.19 and .21) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2301 21 The firm selected for testing certain controls that consisted of the issuer's review of the costs at which inventory is recorded. For these controls the firm 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 2301.19 and .21) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 2301 16 The sample sizes the firm used in certain of its substantive procedures to test inventory costs 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 2301 18 The sample sizes the firm used in certain of its substantive procedures to test inventory costs 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 2301 37 The sample sizes the firm used in certain of its substantive procedures to test inventory costs 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 2315 19 The sample sizes the firm used in certain of its substantive procedures to test inventory costs 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 2315 23 The sample sizes the firm used in certain of its substantive procedures to test inventory costs 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 2315 23A The sample sizes the firm used in certain of its substantive procedures to test inventory costs 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 8 AS 1105 10 For certain inventory the firm did not perform any procedures to test or as discussed above sufficiently test controls over the accuracy and completeness of an inventory aging report generated from the one of the issuer's IT systems it used to test the issuer's obsolete inventory reserve. (AS 1105.10) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Possible Illegal Acts 1 AS 2405 10 The firm became aware through discussions with the issuer's audit committee and a review of whistleblower program records of two incidents involving the improper authorization of lease agreements by a manager acting on behalf of the issuer. The firm did not take sufficient action in response to these possible illegal acts because (1) it limited its procedures to inquiry and reading the issuer's whistleblower reporting summary and (2) it did not evaluate the effect on the financial statements as well as consider the implications for other aspects of the audit. (AS 2405.10 and .12) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Possible Illegal Acts 1 AS 2405 12 The firm became aware through discussions with the issuer's audit committee and a review of whistleblower program records of two incidents involving the improper authorization of lease agreements by a manager acting on behalf of the issuer. The firm did not take sufficient action in response to these possible illegal acts because (1) it limited its procedures to inquiry and reading the issuer's whistleblower reporting summary and (2) it did not evaluate the effect on the financial statements as well as consider the implications for other aspects of the audit. (AS 2405.10 and .12) Triennially Inspected 1818 BDO China Shu Lun Pan Certified Public Accountants LLP 2024 China BDO International Limited 2025-04-28T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Possible Illegal Acts 2 AS 2201 B8 The firm became aware through discussions with the issuer's audit committee and a review of whistleblower program records of two incidents involving the improper authorization of lease agreements by a manager acting on behalf of the issuer. The firm did not evaluate the effect of these possible illegal acts on the effectiveness of the issuer's internal control over financial reporting. (AS 2201.B8) Triennially Inspected 2256 BDO Audit Pty Ltd 2024 Australia BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm's selected a sample of transactions to test certain revenue. The firm did not perform any procedures to test whether certain of these transactions were appropriately recognized as revenue. Further for certain other transactions the firm did not perform sufficient procedures to test the related revenue because it limited its procedures to vouching to cash receipts. (AS 2301.08 and .13) Triennially Inspected 2256 BDO Audit Pty Ltd 2024 Australia BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm's selected a sample of transactions to test certain revenue. The firm did not perform any procedures to test whether certain of these transactions were appropriately recognized as revenue. Further for certain other transactions the firm did not perform sufficient procedures to test the related revenue because it limited its procedures to vouching to cash receipts. (AS 2301.08 and .13) Triennially Inspected 2256 BDO Audit Pty Ltd 2024 Australia BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Estimate Significant Risk 2 AS 2501 16 The firm's approach for substantively testing a significant estimate was to test the issuer's process. The firm did not perform any procedures to evaluate the reasonableness of a significant assumption used by the issuer to develop this estimate beyond testing the mathematical accuracy of the calculation. (AS 2501.16) Triennially Inspected 2256 BDO Audit Pty Ltd 2024 Australia BDO International Limited 2025-04-28T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The firm did not perform any procedures to test or identify and test any controls over the completeness of certain issuer-prepared information used in its substantive testing of revenue. (AS 1105.10) Triennially Inspected 2256 BDO Audit Pty Ltd 2024 Australia BDO International Limited 2025-04-28T00:00:00 Part I.A B Yes Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 2 AS 2510 12 The issuer performed inventory counts prior to year end. The firm obtained issuer-prepared roll-forward analyses but did not perform procedures to test the completeness of the intervening transactions. (AS 2510.12) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform a test of details to address an identified fraud risk related to certain revenue; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform a test of details to address an identified fraud risk related to certain revenue; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not evaluate whether a certain contract was with a customer and whether the issuer had identified all of the performance obligations; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm did not evaluate whether a certain contract was with a customer and whether the issuer had identified all of the performance obligations; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 The firm did not evaluate whether the counterparty for one contract was a customer or acting as an agent for the issuer; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 13 The firm did not evaluate whether the counterparty for one contract was a customer or acting as an agent for the issuer; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2410 14 The firm did not evaluate whether certain contracts constituted transactions with related parties requiring disclosure within the financial statements; (AS 2410.14 and .17) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2410 17 The firm did not evaluate whether certain contracts constituted transactions with related parties requiring disclosure within the financial statements; (AS 2410.14 and .17) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 8 The firm did not perform any procedures to test the allocation of the transaction price to the separate performance obligations for a certain contract; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 13 The firm did not perform any procedures to test the allocation of the transaction price to the separate performance obligations for a certain contract; (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 8 The firm did not evaluate for a certain type of revenue whether it was probable that the issuer would collect substantially all of the consideration to which the issuer was entitled in exchange for the satisfaction of its performance obligations. (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 13 The firm did not evaluate for a certain type of revenue whether it was probable that the issuer would collect substantially all of the consideration to which the issuer was entitled in exchange for the satisfaction of its performance obligations. (AS 2301.08 and .13) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2301 8 The issuer disclosed disaggregated revenue by source. The firm did not test the accuracy and completeness of the disclosure including addressing a difference between the amounts disclosed and the amounts per the firm's work papers. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2301 13 The issuer disclosed disaggregated revenue by source. The firm did not test the accuracy and completeness of the disclosure including addressing a difference between the amounts disclosed and the amounts per the firm's work papers. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 7 AS 2810 3 The issuer disclosed disaggregated revenue by source. The firm did not test the accuracy and completeness of the disclosure including addressing a difference between the amounts disclosed and the amounts per the firm's work papers. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Fraud Risk 8 AS 2310 33 The firm sent positive confirmation requests to the issuer's customers for a sample of accounts receivable. For confirmations returned with exceptions and for those for which differences were identified through alternative procedures the firm did not sufficiently evaluate the nature of those exceptions as it limited its procedures to inquiry. (AS 2310.33) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 9 AS 1105 A8c The issuer engaged a specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm did not sufficiently evaluate whether methods the company's specialist used to determine the fair value of these assets were appropriate because the firm did not evaluate whether the data and significant assumptions were appropriately applied under the applicable financial reporting framework. (AS 1105.A8c) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 10 AS 1105 A8b The issuer engaged a specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm did not evaluate the reasonableness of certain significant assumptions developed by the issuer and the company's specialist that were used by the company's specialist to determine the fair value of these assets. (AS 1105.A8b; AS 2501.16) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 10 AS 2501 16 The issuer engaged a specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm did not evaluate the reasonableness of certain significant assumptions developed by the issuer and the company's specialist that were used by the company's specialist to determine the fair value of these assets. (AS 1105.A8b; AS 2501.16) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 11 AS 2501 16 The issuer engaged a specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm developed an expectation of certain other significant assumptions developed by the issuer and used by the company's specialist to evaluate their reasonableness. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not (i) perform procedures to demonstrate that it had a reasonable basis for a component of the assumptions and (ii) did not evaluate the significant differences between its expectations and the assumptions. (AS 2501.16) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 12 AS 1105 A8b The issuer engaged a specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption used by the company's specialist because it limited its procedures to a comparison to a similar assumption used by the issuer in the prior year. (AS 1105.A8b) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 13 AS 2301 8 The following deficiency was identified related to certain other assets: · The firm did not sufficiently test the existence and fair value of certain assets because it limited its testing to determining that certain subsequent payments were received. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 13 AS 2301 11 The following deficiency was identified related to certain other assets: · The firm did not sufficiently test the existence and fair value of certain assets because it limited its testing to determining that certain subsequent payments were received. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 13 AS 2501 7 The following deficiency was identified related to certain other assets: · The firm did not sufficiently test the existence and fair value of certain assets because it limited its testing to determining that certain subsequent payments were received. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 14 AS 2301 8 The following deficiency was identified related to certain other assets: · The firm did not perform any procedures to test the existence and fair value of certain other assets. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 14 AS 2301 11 The following deficiency was identified related to certain other assets: · The firm did not perform any procedures to test the existence and fair value of certain other assets. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 14 AS 2501 7 The following deficiency was identified related to certain other assets: · The firm did not perform any procedures to test the existence and fair value of certain other assets. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 15 AS 2301 8 The following deficiency was identified related to certain other assets: · The firm did not perform any procedures to evaluate the completeness of certain other assets including evaluating contrary evidence. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 15 AS 2301 11 The following deficiency was identified related to certain other assets: · The firm did not perform any procedures to evaluate the completeness of certain other assets including evaluating contrary evidence. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 15 AS 2810 3 The following deficiency was identified related to certain other assets: · The firm did not perform any procedures to evaluate the completeness of certain other assets including evaluating contrary evidence. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 16 AS 2501 16 The following deficiency was identified related to certain other assets: · The firm did not perform sufficient procedures to evaluate the reasonableness of a significant assumption for one of these assets because it did not evaluate the significant difference between this assumption and a related significant assumption used by the issuer in another estimate tested. (AS 2501.16) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 17 AS 2301 8 The following deficiency was identified related to certain liabilities: · The firm did not perform any procedures to test the completeness and fair value of certain liabilities. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 17 AS 2301 11 The following deficiency was identified related to certain liabilities: · The firm did not perform any procedures to test the completeness and fair value of certain liabilities. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 17 AS 2501 7 The following deficiency was identified related to certain liabilities: · The firm did not perform any procedures to test the completeness and fair value of certain liabilities. (AS 2301.08 and .11; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 18 AS 1105 A10 The following deficiency was identified related to certain liabilities: · The firm did not perform procedures to test the fair value of certain other liabilities beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 18 AS 1105 A6 The following deficiency was identified related to certain liabilities: · The firm did not perform procedures to test the fair value of certain other liabilities beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 18 AS 1105 A7 The following deficiency was identified related to certain liabilities: · The firm did not perform procedures to test the fair value of certain other liabilities beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 18 AS 1105 A8 The following deficiency was identified related to certain liabilities: · The firm did not perform procedures to test the fair value of certain other liabilities beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 18 AS 1105 A9 The following deficiency was identified related to certain liabilities: · The firm did not perform procedures to test the fair value of certain other liabilities beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 18 AS 2501 7 The following deficiency was identified related to certain liabilities: · The firm did not perform procedures to test the fair value of certain other liabilities beyond obtaining and reading the valuation report prepared by the company's specialist. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 19 AS 1105 27 The following deficiency was identified related to certain liabilities: · The firm did not perform sufficient procedures to test the completeness and valuation of certain other liabilities because it limited its procedures to cut-off testing. Further the firm inappropriately projected the results of its cut-off testing including misstatements identified to the entire balance of those liabilities. (AS 1105.27; AS 2301.08 and .11) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 19 AS 2301 8 The following deficiency was identified related to certain liabilities: · The firm did not perform sufficient procedures to test the completeness and valuation of certain other liabilities because it limited its procedures to cut-off testing. Further the firm inappropriately projected the results of its cut-off testing including misstatements identified to the entire balance of those liabilities. (AS 1105.27; AS 2301.08 and .11) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 19 AS 2301 11 The following deficiency was identified related to certain liabilities: · The firm did not perform sufficient procedures to test the completeness and valuation of certain other liabilities because it limited its procedures to cut-off testing. Further the firm inappropriately projected the results of its cut-off testing including misstatements identified to the entire balance of those liabilities. (AS 1105.27; AS 2301.08 and .11) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 20 AS 2501 22 The following deficiency was identified related to certain liabilities: · The firm did not perform procedures beyond inquiry to demonstrate that it had a reasonable basis for an assumption it derived and used in developing its independent expectation of the fair value of another liability. (AS 2501.22) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 21 AS 1105 10 The following deficiency was identified related to certain liabilities: · The firm did not perform any procedures to test or in the alternative identify and test controls over the accuracy and completeness of data it used to develop its independent expectation. (AS 1105.10) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 22 AS 2810 30 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of or inaccurate disclosures regarding certain assets and liabilities. (AS 2810.30 and .31) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets and Liabilities Significant Risk 22 AS 2810 31 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of or inaccurate disclosures regarding certain assets and liabilities. (AS 2810.30 and .31) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Certain Assets Fraud Risk 1 AS 2501 22 The firm did not perform any procedures to demonstrate that it had a reasonable basis for assumptions it derived and used to develop an independent expectation of an estimate related to certain assets. (AS 2501.22) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Certain Assets Fraud Risk 2 AS 1105 10 The firm did not perform any procedures to test or identify and test controls over the accuracy of certain reports it used to develop this independent expectation. (AS 1105.10) Triennially Inspected 5905 Rosenfield & Co PLLC 2024 United States 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 61 The firm identified journal entries that met certain fraud criteria but did not examine the underlying support for the entries. (AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 1105 10 The issuer used an information technology (IT) system to process certain revenue transactions under multiple revenue recognition scenarios. To reduce the extent of its substantive procedures for this revenue the firm tested and placed reliance on certain IT general controls (ITGCs). The following deficiencies were identified: · The firm selected for testing a change management control over this IT system that consisted of the testing and approval of system changes prior to their migration into the production environment. The issuer documented system changes in tickets that were entered into a change ticket tracking system. The firm did not perform sufficient procedures to test or test any controls over the completeness of the population of changes from which it made its selections for testing this control because it limited its procedures to obtaining a list of change tickets from the change ticket tracking system without performing procedures to determine if there were changes that were not captured in that system. (AS 1105.10) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2301 19 The issuer used an information technology (IT) system to process certain revenue transactions under multiple revenue recognition scenarios. To reduce the extent of its substantive procedures for this revenue the firm tested and placed reliance on certain IT general controls (ITGCs). The following deficiencies were identified: · The firm selected for testing another change management control over this IT system that consisted of the restriction of access to migrate system changes from the development environment into the production environment. The firm did not identify and evaluate a control design deficiency related to certain IT users that had the ability to develop system changes and migrate system changes from the development environment into the production environment. (AS 2301.19) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 3 AS 2301 8 The issuer used an information technology (IT) system to process certain revenue transactions under multiple revenue recognition scenarios. To reduce the extent of its substantive procedures for this revenue the firm tested and placed reliance on certain IT general controls (ITGCs). The following deficiencies were identified: · The firm did not perform sufficient procedures to test this revenue because it did not test (1) whether this IT system appropriately processed this revenue under each of the revenue recognition scenarios and (2) the inputs used in determining the revenue recognized. (AS 2301.08) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 4 AS 1105 10 The issuer used an information technology (IT) system to process certain revenue transactions under multiple revenue recognition scenarios. To reduce the extent of its substantive procedures for this revenue the firm tested and placed reliance on certain IT general controls (ITGCs). The firm did not perform procedures to test or sufficiently test controls over the accuracy and completeness of certain system-generated data that it used to substantively test this revenue and certain other revenue. (AS 1105.10) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 5 AS 2501 16 The issuer evaluated goodwill and intangible assets for impairment for one reporting unit using a discounted cash flow model (“DCF model”) which was developed using various assumptions. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reasonableness of the significant assumptions related to forecasted operating expenses used by the issuer in its goodwill and intangible assets impairment analysis. (AS 2501.16) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 6 AS 2501 16 The issuer evaluated goodwill and intangible assets for impairment for one reporting unit using a discounted cash flow model (“DCF model”) which was developed using various assumptions. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of the significant assumptions related to forecasted revenue used by the issuer in its goodwill and intangible assets impairment analysis as it limited its procedures to recalculating the compounded annual growth rate (CAGR) for revenue based on projected financial information and comparing it to the CAGR for the industry without evaluating the projected financial information. Further the firm did not evaluate the difference between the recalculated CAGR and the CAGR for the industry. (AS 2501.16) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Fraud Considerations 7 AS 2301 8 Certain users of the issuer's accounting system were identified as having the ability to create and approve manual journal entries. The firm did not identify and select journal entries for testing or perform other audit procedures to specifically address this risk. (AS 2301.08; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Fraud Considerations 7 AS 2401 61 Certain users of the issuer's accounting system were identified as having the ability to create and approve manual journal entries. The firm did not identify and select journal entries for testing or perform other audit procedures to specifically address this risk. (AS 2301.08; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 8 AS 2401 61 The firm identified certain fraud criteria and obtained a listing of all journal entries that met the criteria. The firm did not examine the underlying support for the entries and instead limited its procedures to reading the journal entry descriptions. (AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm was instructed by the principal auditor to perform certain procedures to test revenue including (1) analyzing the amount of inventory held by distributors at year-end (2) testing cash disbursements to distributors and (3) agreeing revenue transactions to cash receipts. The firm did not perform procedures (1) and (3) and for (2) limited its testing of cash disbursements to distributors to those made subsequent to year-end. (AS 2301.08 and .13) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm was instructed by the principal auditor to perform certain procedures to test revenue including (1) analyzing the amount of inventory held by distributors at year-end (2) testing cash disbursements to distributors and (3) agreeing revenue transactions to cash receipts. The firm did not perform procedures (1) and (3) and for (2) limited its testing of cash disbursements to distributors to those made subsequent to year-end. (AS 2301.08 and .13) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 39 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm did not identify and test any controls over certain inventory. (AS 2201.39) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 3 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm did not perform sufficient procedures to test this inventory as it limited its procedures to (1) confirming the balance with the principal auditor and (2) reconciling the balance to the general ledger. (AS 2301.08) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A B Yes Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 4 AS 2401 61 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify certain of the deficiencies below. The firm was instructed by the principal auditor to test any unusual cost of sales journal entries. The firm did not perform any procedures to identify and test any unusual cost of sales journal entries. (AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Fraud Considerations 1 AS 2301 8 The firm identified a fraud risk related to users of the issuer's accounting system having the ability to create and approve manual journal entries. The firm did not identify and select journal entries for testing or perform other audit procedures to address this risk. (AS 2301.08 and .13; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Fraud Considerations 1 AS 2301 13 The firm identified a fraud risk related to users of the issuer's accounting system having the ability to create and approve manual journal entries. The firm did not identify and select journal entries for testing or perform other audit procedures to address this risk. (AS 2301.08 and .13; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Fraud Considerations 1 AS 2401 61 The firm identified a fraud risk related to users of the issuer's accounting system having the ability to create and approve manual journal entries. The firm did not identify and select journal entries for testing or perform other audit procedures to address this risk. (AS 2301.08 and .13; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2301 8 For one component the firm did not identify and select manual journal entries for testing or perform other audit procedures to specifically address the identified risk related to expenses being recorded in the incorrect accounting period. (AS 2301.08 and .13; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2301 13 For one component the firm did not identify and select manual journal entries for testing or perform other audit procedures to specifically address the identified risk related to expenses being recorded in the incorrect accounting period. (AS 2301.08 and .13; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 61 For one component the firm did not identify and select manual journal entries for testing or perform other audit procedures to specifically address the identified risk related to expenses being recorded in the incorrect accounting period. (AS 2301.08 and .13; AS 2401.61) Triennially Inspected 5988 BDO AG 2023 Switzerland BDO International Limited 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 61 For another component the firm identified certain fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient procedures to test those journal entries because it limited its procedures to certain journal entries without having an appropriate rationale for limiting its procedures to those journal entries. Further the firm did not examine the underlying support for certain of the selected journal entries. (AS 2401.61) Triennially Inspected 6135 Baker Tilly WM LLP 2024 Canada 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 Other Non-PCAOB Standards The issuer engaged a specialist to perform a quantitative assessment of the impairment of certain goodwill. The following deficiency was identified: · The firm did not perform procedures to address the appropriateness of certain significant assumptions developed and used by management's expert in the quantitative assessment. (CAS 500.8; CAS 540.24) Triennially Inspected 6135 Baker Tilly WM LLP 2024 Canada 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 2 Other Non-PCAOB Standards The issuer engaged a specialist to perform a quantitative assessment of the impairment of certain goodwill. The following deficiency was identified: · The firm did not perform procedures to address the relevance and reliability of certain data the issuer used to develop certain significant assumptions which management's expert used in the quantitative assessment. (CAS 540.25) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Litigation, Claims, and Assessments 1 AS 2505 5 The firm's procedures for identifying litigation claims and assessments and determining whether the financial accounting and reporting of such matters was complete and accurate consisted solely of obtaining letters of audit inquiry from the client's lawyers without evaluating such responses and performing other necessary procedures. (AS 2505.05) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2301 8 The firm did not perform any substantive procedures to test certain revenue. (AS 2301.08) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 3 AS 2301 8 For certain other revenue the following deficiency was identified: · The firm did not perform procedures to evaluate whether the issuer's recognition of this revenue was in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 4 AS 2315 16 For certain other revenue the following deficiency was identified: · The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because in determining its sample the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 4 AS 2315 19 For certain other revenue the following deficiency was identified: · The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because in determining its sample the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 4 AS 2315 23 For certain other revenue the following deficiency was identified: · The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because in determining its sample the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 4 AS 2315 23A For certain other revenue the following deficiency was identified: · The sample size the firm used in its substantive procedures to test this revenue was too small to provide sufficient appropriate audit evidence because in determining its sample the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 5 AS 2810 30 For certain other revenue the following deficiency was identified: · The firm did not identify and evaluate a GAAP departure related to the issuer's omission of disclosures related to significant payment terms for its customer contracts as required by FASB ASC Topic 606. (AS 2810.30 and .31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 5 AS 2810 31 For certain other revenue the following deficiency was identified: · The firm did not identify and evaluate a GAAP departure related to the issuer's omission of disclosures related to significant payment terms for its customer contracts as required by FASB ASC Topic 606. (AS 2810.30 and .31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 6 AS 2301 8 The issuer reported convertible notes payable with conversion features that were recorded as derivative liabilities. The following deficiency was identified with respect to convertible notes payable: · The firm did not perform any procedures to test certain convertible notes payable. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 6 AS 2301 11 The issuer reported convertible notes payable with conversion features that were recorded as derivative liabilities. The following deficiency was identified with respect to convertible notes payable: · The firm did not perform any procedures to test certain convertible notes payable. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 7 AS 2310 33 The issuer reported convertible notes payable with conversion features that were recorded as derivative liabilities. The following deficiency was identified with respect to convertible notes payable: · The firm sent a positive confirmation request to the issuer's lender for a convertible note payable. The confirmation was returned with an exception and the firm did not consider the nature of the exception and whether additional evidence was needed. (AS 2310.33) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 8 AS 2301 8 The issuer reported convertible notes payable with conversion features that were recorded as derivative liabilities. The following deficiency was identified with respect to convertible notes payable: · The firm did not perform any procedures to test the unamortized debt discount related to the convertible notes payable. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 8 AS 2301 11 The issuer reported convertible notes payable with conversion features that were recorded as derivative liabilities. The following deficiency was identified with respect to convertible notes payable: · The firm did not perform any procedures to test the unamortized debt discount related to the convertible notes payable. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 9 AS 2301 8 The issuer reported convertible notes payable with conversion features that were recorded as derivative liabilities. The following deficiency was identified with respect to convertible notes payable: · The firm did not perform any procedures to test the disclosures related to the convertible notes payable. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 9 AS 2301 11 The issuer reported convertible notes payable with conversion features that were recorded as derivative liabilities. The following deficiency was identified with respect to convertible notes payable: · The firm did not perform any procedures to test the disclosures related to the convertible notes payable. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Derivative Liabilities Significant Risk 10 AS 2301 8 The following deficiency was identified with respect to the derivative liabilities recorded for the conversion features embedded in the convertible debt: · The firm did not perform any procedures to evaluate the accounting treatment of the embedded conversion features as derivative liabilities. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Derivative Liabilities Significant Risk 10 AS 2301 11 The following deficiency was identified with respect to the derivative liabilities recorded for the conversion features embedded in the convertible debt: · The firm did not perform any procedures to evaluate the accounting treatment of the embedded conversion features as derivative liabilities. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Derivative Liabilities Significant Risk 11 AS 2501 7 The following deficiency was identified with respect to the derivative liabilities recorded for the conversion features embedded in the convertible debt: · The firm did not perform substantive procedures to test the fair value of the derivative liabilities beyond obtaining and reading a company-provided memo. (AS 2501.07) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Derivative Liabilities Significant Risk 12 AS 2301 8 The following deficiency was identified with respect to the derivative liabilities recorded for the conversion features embedded in the convertible debt: · The firm did not perform any procedures to test the disclosures related to the derivative liabilities. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Derivative Liabilities Significant Risk 12 AS 2301 11 The following deficiency was identified with respect to the derivative liabilities recorded for the conversion features embedded in the convertible debt: · The firm did not perform any procedures to test the disclosures related to the derivative liabilities. (AS 2301.08 and .11) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 13 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Liability Significant Risk 1 AS 2310 31 The firm sent a positive confirmation request for a liability at year end. The respondent did not respond to the aspect of the confirmation request related to the amount of liability outstanding and informed the firm that the loans were sold to another entity. The firm did not perform any alternative procedures including confirmation with the purchaser of the loans. (AS 2310.31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 2 AS 2410 12 he firm did not perform procedures to test the identified transactions with related parties including whether the transactions were properly accounted for and disclosed in the issuer's financial statements beyond inquiry and obtaining information provided by the issuer about the transactions. (AS 2410.12 and .17) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 2 AS 2410 17 he firm did not perform procedures to test the identified transactions with related parties including whether the transactions were properly accounted for and disclosed in the issuer's financial statements beyond inquiry and obtaining information provided by the issuer about the transactions. (AS 2410.12 and .17) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 3 AS 2410 14 The firm did not evaluate whether the issuer had properly identified all of its related parties and relationships and transactions with related parties including testing the accuracy and completeness of the related parties and relationships and transactions with related parties identified by the issuer. (AS 2410.14 and .17) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 3 AS 2410 17 The firm did not evaluate whether the issuer had properly identified all of its related parties and relationships and transactions with related parties including testing the accuracy and completeness of the related parties and relationships and transactions with related parties identified by the issuer. (AS 2410.14 and .17) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 4 AS 2410 17 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of disclosures required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; 2810.30 and .31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 4 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of disclosures required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; 2810.30 and .31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 4 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of disclosures required by FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; 2810.30 and .31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transactions 5 AS 2401 67 The issuer entered into certain significant transactions during the year. The firm did not evaluate the business purpose (or lack thereof) of these transactions that appeared unusual due to the timing size or nature including whether they may have been entered into to engage in fraudulent financial reporting or conceal misappropriation of assets given certain facts regarding these transactions. (AS 2401.67) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Transactions 6 AS 2301 8 In addition the firm did not perform procedures to test the transactions including the appropriateness of the accounting treatment the valuation and the related disclosures. (AS 2301.08) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 7 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Subsequent Events 8 AS 2301 8 The firm did not perform procedures to test a subsequent event transaction beyond inquiry and obtaining a board resolution regarding the planned transaction. (AS 2301.08) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Liabilities 1 AS 2301 8 The firm did not perform any procedures to test certain liabilities. (AS 2301.08) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Liabilities 2 AS 2310 29 To test another liability the firm sent a positive confirmation request to an external party and received the response via email. The firm did not consider performing procedures to address the risks associated with electronic responses such as verifying the source and contents of the confirmation responses. (AS 2310.29) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Liabilities 3 AS 2301 8 To test another liability the firm sent a positive confirmation request to an external party and received the response via email. The firm obtained bank statements showing certain deposits related to this liability. The firm did not perform procedures to verify the source of those deposits. (AS 2301.08) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 4 AS 2410 12 The firm did not perform procedures to test certain related party transactions and balances including whether they were properly disclosed in the financial statements beyond inquiry with management. (AS 2410.12 and .17) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 4 AS 2410 17 The firm did not perform procedures to test certain related party transactions and balances including whether they were properly disclosed in the financial statements beyond inquiry with management. (AS 2410.12 and .17) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Share-Based Payment Transactions 5 AS 2301 8 The issuer issued stock in exchange for services provided. The firm did not perform any procedures to test whether share-based expenses were recognized in the appropriate period and in accordance with the terms of the relevant agreements including whether the issuance of shares of common stock was approved by the issuer's Board of Directors. (AS 2301.08) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Share-Based Payment Transactions 6 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures related to certain share-based payment transactions required by FASB ASC Topic 718 Compensation—Stock Compensation. (AS 2810.30 and .31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Share-Based Payment Transactions 6 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures related to certain share-based payment transactions required by FASB ASC Topic 718 Compensation—Stock Compensation. (AS 2810.30 and .31) Triennially Inspected 6662 M. S. Madhava Rao 2023 India 2025-04-28T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 7 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 2201 42 The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm selected for testing certain reserve governance controls that included the issuer's (1) review and verification of the internal and external data including non-financial data future production volumes (“production profiles”) and other relevant data used to determine its reserve estimates (2) evaluation of the appropriateness of its reserve classifications and (3) evaluation of the consistency of its reserve estimates with the results of the review performed by the company's engaged specialists. The following deficiencies were identified: · The firm did not test aspects of the reserve governance controls that (1) addressed the accuracy and completeness of non-financial data produced by the issuer and (2) evaluated the relevance and reliability of non-financial data from external sources used by the control owners in their review of the production profiles. (AS 2201.42 and .44) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 2201 44 The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm selected for testing certain reserve governance controls that included the issuer's (1) review and verification of the internal and external data including non-financial data future production volumes (“production profiles”) and other relevant data used to determine its reserve estimates (2) evaluation of the appropriateness of its reserve classifications and (3) evaluation of the consistency of its reserve estimates with the results of the review performed by the company's engaged specialists. The following deficiencies were identified: · The firm did not test aspects of the reserve governance controls that (1) addressed the accuracy and completeness of non-financial data produced by the issuer and (2) evaluated the relevance and reliability of non-financial data from external sources used by the control owners in their review of the production profiles. (AS 2201.42 and .44) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 2 AS 2201 42 The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm selected for testing certain reserve governance controls that included the issuer's (1) review and verification of the internal and external data including non-financial data future production volumes (“production profiles”) and other relevant data used to determine its reserve estimates (2) evaluation of the appropriateness of its reserve classifications and (3) evaluation of the consistency of its reserve estimates with the results of the review performed by the company's engaged specialists. The following deficiencies were identified: · The firm did not evaluate the specific review procedures that the control owners performed to evaluate the (1) reasonableness of the production profiles and (2) appropriateness of the methods used to determine the reserve estimates. (AS 2201.42 and .44) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 2 AS 2201 44 The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm selected for testing certain reserve governance controls that included the issuer's (1) review and verification of the internal and external data including non-financial data future production volumes (“production profiles”) and other relevant data used to determine its reserve estimates (2) evaluation of the appropriateness of its reserve classifications and (3) evaluation of the consistency of its reserve estimates with the results of the review performed by the company's engaged specialists. The following deficiencies were identified: · The firm did not evaluate the specific review procedures that the control owners performed to evaluate the (1) reasonableness of the production profiles and (2) appropriateness of the methods used to determine the reserve estimates. (AS 2201.42 and .44) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 1105 A8a The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Test the accuracy and completeness of the non-financial data prepared by the issuer and used by the company's employed specialists to develop the reserve estimates; (AS 1105.A8a) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 4 AS 1105 A8a The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Evaluate the relevance and reliability of external data used by the company's employed specialists to develop the reserve estimates; (AS 1105.A8a) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 5 AS 1105 A8b The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Evaluate the reasonableness of the production profiles which were considered significant assumptions by the firm developed by the company's employed specialists and used to develop the reserve estimates; (AS 1105.A8b) Triennially Inspected 30 PricewaterhouseCoopers SpA 2023 Italy PricewaterhouseCoopers International Limited 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 6 AS 1105 A8c The issuer utilized internal specialists (company's employed specialists) including reserve engineers to estimate its oil and gas reserves (“reserve estimates”) which were then used in the (1) calculation of depreciation depletion and amortization and (2) impairment analysis of long-lived assets. The issuer also engaged external reserve engineers (company's engaged specialists) to audit and evaluate its proven reserves on a rotational basis. The firm's approach for substantively testing the reserve estimates was to test the issuer's process. The firm did not perform sufficient procedures to test the reserve estimates because the firm did not: · Evaluate whether the methods used by the company's engaged specialists to develop the reserve estimates were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework beyond inquiry of the methods used with the company's engaged specialists. (AS 1105.A8c) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 1 AS 2201 42 The issuer's general reserve component of the ALL included a qualitative reserve component that was determined by certain qualitative factors. The firm selected for testing a control that included the review of the qualitative component of the general reserve. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 1 AS 2201 44 The issuer's general reserve component of the ALL included a qualitative reserve component that was determined by certain qualitative factors. The firm selected for testing a control that included the review of the qualitative component of the general reserve. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 9 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and (3) assessing whether certain changes or lack thereof to the basis points from prior year were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 10 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and (3) assessing whether certain changes or lack thereof to the basis points from prior year were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 11 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and (3) assessing whether certain changes or lack thereof to the basis points from prior year were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 1 AS 2201 42 The issuer's general reserve component of the ALL included a qualitative reserve component that was determined by certain qualitative factors. The firm selected for testing a control that included the review of the qualitative component of the general reserve. The firm did not evaluate the review procedures that the control owner performed with respect to certain qualitative factors 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) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 1 AS 2201 44 The issuer's general reserve component of the ALL included a qualitative reserve component that was determined by certain qualitative factors. The firm selected for testing a control that included the review of the qualitative component of the general reserve. The firm did not evaluate the review procedures that the control owner performed with respect to certain qualitative factors 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) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 9 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to certain qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and (3) assessing whether certain changes or lack thereof to the basis points from the prior year were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 10 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to certain qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and (3) assessing whether certain changes or lack thereof to the basis points from the prior year were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 11 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to certain qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and (3) assessing whether certain changes or lack thereof to the basis points from the prior year were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 1 AS 2201 42 The issuer's general reserve component of the ALL included a qualitative reserve component that was determined by certain qualitative factors. The firm selected for testing a control that included the review of the qualitative component of the general reserve. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 1 AS 2201 44 The issuer's general reserve component of the ALL included a qualitative reserve component that was determined by certain qualitative factors. The firm selected for testing a control that included the review of the qualitative component of the general reserve. The firm did not evaluate the review procedures that the control owner 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) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 9 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and performing a trend analysis and (3) assessing whether certain changes or lack thereof to the basis points from the prior year and the results from the resulting from the comparison and trend analysis were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 10 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and performing a trend analysis and (3) assessing whether certain changes or lack thereof to the basis points from the prior year and the results from the resulting from the comparison and trend analysis were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 57 Dixon Hughes Goodman LLP 2020 United States 2025-03-27T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 2 AS 2501 11 The firm's approach for substantively testing the ALL was to review and test management's process. The firm did not perform procedures to evaluate the reasonableness of the basis points that were applied to qualitative factors beyond (1) reading the issuer's analysis (2) comparing the basis points that were applied to the qualitative factors to the basis points that were applied in the prior year and performing a trend analysis and (3) assessing whether certain changes or lack thereof to the basis points from the prior year and the results from the resulting from the comparison and trend analysis were directionally consistent with internal or external data. (AS 2501.09 .10 and .11) Triennially Inspected 58 Fitzgerald & Co., CPAS, P.C. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 1 AS 2301 8 The firm did not perform any substantive procedures to test whether inventory was recorded at the lower of cost or net realizable value. (AS 2301.08 and .11) Triennially Inspected 58 Fitzgerald & Co., CPAS, P.C. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 1 AS 2301 11 The firm did not perform any substantive procedures to test whether inventory was recorded at the lower of cost or net realizable value. (AS 2301.08 and .11) Triennially Inspected 58 Fitzgerald & Co., CPAS, P.C. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 2 AS 1105 10 The firm's approach for substantively testing the excess or obsolete inventory reserve was to develop an independent expectation. The following deficiencies were identified: · The firm used certain data in its substantive procedures to test this reserve but did not perform any procedures to test or test any controls over the accuracy of this data. (AS 1105.10) Triennially Inspected 58 Fitzgerald & Co., CPAS, P.C. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 3 AS 2501 22 The firm's approach for substantively testing the excess or obsolete inventory reserve was to develop an independent expectation. The following deficiencies were identified: · The firm did not perform procedures to demonstrate it had a reasonable basis for certain assumptions it independently derived. (AS 2501.22) Triennially Inspected 58 Fitzgerald & Co., CPAS, P.C. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 4 AS 2501 21 The firm's approach for substantively testing the excess or obsolete inventory reserve was to develop an independent expectation. The following deficiencies were identified: · The firm did not perform sufficient procedures to demonstrate it had a reasonable basis for the method used to develop its independent expectation because it did not demonstrate how its method took into account its understanding of the issuer's process including the significant assumptions used by the issuer so that its expectation considered the factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 58 Fitzgerald & Co., CPAS, P.C. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 4 AS 2501 22 The firm's approach for substantively testing the excess or obsolete inventory reserve was to develop an independent expectation. The following deficiencies were identified: · The firm did not perform sufficient procedures to demonstrate it had a reasonable basis for the method used to develop its independent expectation because it did not demonstrate how its method took into account its understanding of the issuer's process including the significant assumptions used by the issuer so that its expectation considered the factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Expenses 1 AS 1105 10 The firm's approach for substantively testing certain expenses was to test the issuer's process. The firm did not perform procedures to test or test controls over the accuracy and completeness of data it used to substantively test the expenses. (AS 1105.10) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Expenses 2 AS 2501 16 The firm's approach for substantively testing certain expenses was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions used by the issuer to estimate the expenses. (AS 2501.16) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Debt 3 AS 2301 8 The firm did not evaluate whether the issuer's accounting for and disclosure of certain notes payable was in conformity with GAAP. (AS 2301.08) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries 4 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatements due to fraud. (AS 2401.58) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Expenses 1 AS 2301 8 The firm did not perform procedures to test certain expenses beyond inquiry of the issuer's external accountant. (AS 2301.08; AS 2501.07) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Expenses 1 AS 2501 7 The firm did not perform procedures to test certain expenses beyond inquiry of the issuer's external accountant. (AS 2301.08; AS 2501.07) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Related Party Transactions 2 AS 2301 8 The firm did not perform procedures to test an amount due to a related party beyond reviewing minutes from the Board of Directors meetings. (AS 2301.08) Triennially Inspected 473 Liebman Hymowitz, LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries 3 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatements due to fraud. (AS 2401.58) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 1 AS 2501 16 The issuer used various qualitative factors to determine the qualitative component of the ALL. The firm's approach for testing the qualitative reserve was to test the issuer's process. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of the significant assumptions related to the qualitative factors the issuer used to determine the qualitative reserve because it limited its procedures to reading the issuer's ALL methodology and evaluating the consistency of the assumptions with those used in prior periods. (AS 2501.16) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 2 AS 1105 4 The issuer used various qualitative factors to determine the qualitative component of the ALL. The firm's approach for testing the qualitative reserve was to test the issuer's process. The following deficiencies were identified: · The firm did not perform procedures to evaluate the relevance and reliability of external information that the issuer used to develop the significant assumptions related to qualitative factors. (AS 1105.04 and .06) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 2 AS 1105 6 The issuer used various qualitative factors to determine the qualitative component of the ALL. The firm's approach for testing the qualitative reserve was to test the issuer's process. The following deficiencies were identified: · The firm did not perform procedures to evaluate the relevance and reliability of external information that the issuer used to develop the significant assumptions related to qualitative factors. (AS 1105.04 and .06) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 3 AS 1105 10 The issuer used various qualitative factors to determine the qualitative component of the ALL. The firm's approach for testing the qualitative reserve was to test the issuer's process. The following deficiencies were identified: · The firm did not perform sufficient procedures to test or identify and test any controls over the accuracy and completeness of issuer-produced information that the issuer used to develop the significant assumptions related to the qualitative factors because it limited its procedures to inquiries and performing certain recalculations and comparisons of certain of the information to other issuer-prepared information. (AS 1105.10) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 4 AS 1105 A8a The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not test the accuracy and completeness of issuer-produced information and evaluate the relevance and reliability of external information used by the company's specialists to determine the fair value of the properties used as collateral. (AS 1105.A8a) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 5 AS 1105 A8b The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of significant assumptions used by the company's specialists to determine the fair value of the properties used as collateral. (AS 1105.A8b; AS 2501.16) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 5 AS 2501 16 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of significant assumptions used by the company's specialists to determine the fair value of the properties used as collateral. (AS 1105.A8b; AS 2501.16) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 6 AS 1105 A10 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not sufficiently evaluate the relevance and reliability of the work performed by the company's specialists and whether the specialists' findings supported or contradicted the fair value of the collateral because it did not evaluate that the appraisals were not prepared as of the end of the year and perform additional procedures to address the potential effect of the timing difference on the fair value of the collateral. (AS 1105.A9 and .A10) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 6 AS 1105 A9 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not sufficiently evaluate the relevance and reliability of the work performed by the company's specialists and whether the specialists' findings supported or contradicted the fair value of the collateral because it did not evaluate that the appraisals were not prepared as of the end of the year and perform additional procedures to address the potential effect of the timing difference on the fair value of the collateral. (AS 1105.A9 and .A10) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 7 AS 2501 21 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform sufficient procedures to demonstrate it had a reasonable basis for certain assumptions it developed because it did not demonstrate how its assumptions took into account its understanding of the company's process that included certain information about the properties used as collateral so that its expectations considered the factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 7 AS 2501 22 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform sufficient procedures to demonstrate it had a reasonable basis for certain assumptions it developed because it did not demonstrate how its assumptions took into account its understanding of the company's process that included certain information about the properties used as collateral so that its expectations considered the factors relevant to the estimate. (AS 2501.21 and .22) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 8 AS 1105 4 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reliability of external information that the firm used to develop its independent expectation of the specific reserve. (AS 1105.04 and .06) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 8 AS 1105 6 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reliability of external information that the firm used to develop its independent expectation of the specific reserve. (AS 1105.04 and .06) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 9 AS 2501 22 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform procedures to demonstrate it had a reasonable basis for another assumption it developed and used in its independent expectation of the specific reserve. (AS 2501.22) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Fraud Risk 10 AS 2501 16 The issuer's ALL also included a specific reserve for impaired loans. The issuer engaged external specialists to determine the fair value of certain property that served as collateral for certain impaired loans. The firm's approach for substantively testing the specific reserve was to develop an independent expectation of the specific reserve that included use of the work of the company's specialists as audit evidence. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of another significant assumption that the issuer developed and it used in its independent expectation of the specific reserve. (AS 2501.16) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 11 AS 2601 16 The issuer used a service organization to process and record transactions related to deposit liabilities. The firm's approach to testing deposit liabilities included reliance on controls. The following deficiencies were identified: · The service auditor's report for the service organization contained a qualified opinion because controls were not operating effectively to achieve a control objective related to logical access to programs data and computer resources. The firm did not perform sufficient procedures to evaluate whether the service auditor's report provided sufficient appropriate audit evidence to support the firm's reliance on the service organization's controls because it concluded that the identified control deficiencies did not have an effect on its reliance on controls without performing procedures to support its conclusion. Further given the length of period under audit not covered by the service auditor's report the firm inappropriately limited its procedures to reading the bridge letter that only addressed a portion of that period of time. (AS 2601.16) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 12 AS 2601 14 The issuer used a service organization to process and record transactions related to deposit liabilities. The firm's approach to testing deposit liabilities included reliance on controls. The following deficiencies were identified: · The firm did not perform procedures to test beyond inquiring of management certain complementary user controls over deposit liabilities identified in the service auditor's report. (AS 2601.14) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 13 AS 2301 16 The sample sizes the firm used in its substantive procedures to test deposit liabilities were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 13 AS 2301 18 The sample sizes the firm used in its substantive procedures to test deposit liabilities were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 13 AS 2301 37 The sample sizes the firm used in its substantive procedures to test deposit liabilities were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 13 AS 2315 19 The sample sizes the firm used in its substantive procedures to test deposit liabilities were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 13 AS 2315 23 The sample sizes the firm used in its substantive procedures to test deposit liabilities were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Deposit Liabilities 13 AS 2315 23A The sample sizes the firm used in its substantive procedures to test deposit liabilities were too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 601 LaPorte, A Professional Accounting Corporation 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 14 AS 2401 61 The firm identified characteristics of potentially fraudulent entries or adjustments for testing determined that certain journal entries met those characteristics but limited its testing to haphazardly selected journal entries. (AS 2401.61) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 1 AS 2501 16 The firm's approach for substantively testing the issuer's impairment analysis for certain intangible assets was to develop an independent expectation which included significant assumptions that were developed by the issuer and the firm. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of a certain significant assumption that was developed by the issuer because the firm did not (1) evaluate whether the issuer had a reasonable basis for this assumption and (2) take into account the issuer's intent and ability to carry out this assumption beyond performing inquiries of management and inspecting invoices. (AS 2501.16 and .17) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 1 AS 2501 17 The firm's approach for substantively testing the issuer's impairment analysis for certain intangible assets was to develop an independent expectation which included significant assumptions that were developed by the issuer and the firm. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of a certain significant assumption that was developed by the issuer because the firm did not (1) evaluate whether the issuer had a reasonable basis for this assumption and (2) take into account the issuer's intent and ability to carry out this assumption beyond performing inquiries of management and inspecting invoices. (AS 2501.16 and .17) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 2 AS 2501 21 The firm's approach for substantively testing the issuer's impairment analysis for certain intangible assets was to develop an independent expectation which included significant assumptions that were developed by the issuer and the firm. The following deficiencies were identified: · The firm did not perform any procedures to demonstrate that it had a reasonable basis for a certain significant assumption that was developed by the firm including taking into account the requirements of certain elements of the applicable financial framework. (AS 2501.21 and .22) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 2 AS 2501 22 The firm's approach for substantively testing the issuer's impairment analysis for certain intangible assets was to develop an independent expectation which included significant assumptions that were developed by the issuer and the firm. The following deficiencies were identified: · The firm did not perform any procedures to demonstrate that it had a reasonable basis for a certain significant assumption that was developed by the firm including taking into account the requirements of certain elements of the applicable financial framework. (AS 2501.21 and .22) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 16 The issuer used an information technology (IT) application to process inventory transactions and calculate inventory costs. To reduce the extent of its substantive procedures over the valuation of inventory the firm tested and placed reliance on certain application controls. The following deficiencies were identified: · The firm selected for testing a logical access control over this IT application. The firm did not perform procedures to test the design and operating effectiveness of this control beyond observing the control owner perform a point in time logical access review. (AS 2301.16) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 4 AS 2301 34 The issuer used an information technology (IT) application to process inventory transactions and calculate inventory costs. To reduce the extent of its substantive procedures over the valuation of inventory the firm tested and placed reliance on certain application controls. The following deficiencies were identified: · The firm selected for testing a logical access control over this IT application. The firm identified a control deficiency in its testing of this control but did not evaluate the severity of this deficiency and its effect on its control risk assessment. (AS 2301.34) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 5 AS 2301 16 The issuer used an information technology (IT) application to process inventory transactions and calculate inventory costs. To reduce the extent of its substantive procedures over the valuation of inventory the firm tested and placed reliance on certain application controls. The following deficiencies were identified: · The firm did not identify and test any controls related to program changes for this IT system. (AS 2301.16) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2301 16 The firm did not perform sufficient substantive procedures to test the valuation of inventory as follows: · The sample size the firm used in certain of its substantive procedures to test the valuation of inventory was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2301 18 The firm did not perform sufficient substantive procedures to test the valuation of inventory as follows: · The sample size the firm used in certain of its substantive procedures to test the valuation of inventory was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2301 37 The firm did not perform sufficient substantive procedures to test the valuation of inventory as follows: · The sample size the firm used in certain of its substantive procedures to test the valuation of inventory was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2315 19 The firm did not perform sufficient substantive procedures to test the valuation of inventory as follows: · The sample size the firm used in certain of its substantive procedures to test the valuation of inventory was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2315 23 The firm did not perform sufficient substantive procedures to test the valuation of inventory as follows: · The sample size the firm used in certain of its substantive procedures to test the valuation of inventory was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 6 AS 2315 23A The firm did not perform sufficient substantive procedures to test the valuation of inventory as follows: · The sample size the firm used in certain of its substantive procedures to test the valuation of inventory was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Inventory 7 AS 1105 10 The firm did not perform sufficient substantive procedures to test the valuation of inventory as follows: · The firm did not perform any procedures to test or sufficiently test controls over the accuracy and completeness of certain system-generated data that it used to substantively test the valuation of inventory. (AS 1105.10) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 8 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient procedures to test those journal entries because other than inquiries of management it limited its procedures to one journal entry without having an appropriate rationale for limiting its testing to that journal entry. (AS 2401.61) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 1 AS 2501 16 The firm did not perform any procedures to test certain significant assumptions used by the issuer to determine the cost of certain inventory. (AS 2501.16) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform any procedures to test these journal entries. (AS 2401.61) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A8a The issuer engaged a specialist to develop significant inputs used to determine the fair value of certain long-lived assets. The following deficiencies were identified: · The firm did not test the accuracy and completeness of certain company-produced data used by the company's specialist. (AS 1105.A8a) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 2 AS 1105 A8a The issuer engaged a specialist to develop significant inputs used to determine the fair value of certain long-lived assets. The following deficiencies were identified: · The firm did not evaluate the relevance and reliability of certain data from external sources used by the company's specialist. (AS 1105.A8a) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 1105 A8b The issuer engaged a specialist to develop significant inputs used to determine the fair value of certain long-lived assets. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialist and the issuer. (AS 1105.A8b; AS 2501.16) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2501 16 The issuer engaged a specialist to develop significant inputs used to determine the fair value of certain long-lived assets. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialist and the issuer. (AS 1105.A8b; AS 2501.16) Triennially Inspected 995 Smythe LLP 2024 Canada 2025-03-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 4 AS 1105 A8c The issuer engaged a specialist to develop significant inputs used to determine the fair value of certain long-lived assets. The following deficiencies were identified: · The firm did not evaluate whether the methods used by the company's specialist were appropriate under the circumstances taking into account the requirements of IFRS. (AS 1105.A8c) Triennially Inspected 1247 Ernst & Young LLP 2024 Singapore Ernst & Young Global Limited 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Certain Assets 1 AS 2501 7 The firm did not perform substantive procedures to test the fair value of certain assets. (AS 2501.07) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 1 AS 2201 B21 The issuer used a service organization to process and record transactions related to loans and for information it used to determine the ALL. In addition the issuer used data and reports from this service organization in the operation of certain controls the firm selected for testing. The firm did not evaluate whether the service auditor's report provided sufficient evidence because the firm did not assess the scope of the examination and applications covered the controls tested the way in which the tested controls related to the issuer's controls and the results for those tests of controls. (AS 2201.B21) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Loans 1 AS 2201 B21 The issuer used a service organization to process and record transactions related to loans and for information it used to determine the ALL. In addition the issuer used data and reports from this service organization in the operation of certain controls the firm selected for testing. The firm did not evaluate whether the service auditor's report provided sufficient evidence because the firm did not assess the scope of the examination and applications covered the controls tested the way in which the tested controls related to the issuer's controls and the results for those tests of controls. (AS 2201.B21) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 2 AS 2201 42 The firm selected for testing a control over the review of the adequacy of the ALL. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of certain assumptions used to determine the ALL. (AS 2201.42 and .44) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 2 AS 2201 44 The firm selected for testing a control over the review of the adequacy of the ALL. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of certain assumptions used to determine the ALL. (AS 2201.42 and .44) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 3 AS 2201 39 The firm selected for testing a control over the review of the adequacy of the ALL. The firm did not identify and test any controls over the appropriateness of the loan grades that were an important factor in estimating the ALL. (AS 2201.39) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 4 AS 1105 4 The firm's approach for substantively testing the ALL was to test the issuer's process. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions because the firm did not evaluate whether the issuer had a reasonable basis for these assumptions. Further the firm used certain external data to develop an expectation for the range of these significant assumptions but did not perform procedures to evaluate the relevance of this data. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 4 AS 1105 6 The firm's approach for substantively testing the ALL was to test the issuer's process. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions because the firm did not evaluate whether the issuer had a reasonable basis for these assumptions. Further the firm used certain external data to develop an expectation for the range of these significant assumptions but did not perform procedures to evaluate the relevance of this data. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 4 AS 2501 16 The firm's approach for substantively testing the ALL was to test the issuer's process. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions because the firm did not evaluate whether the issuer had a reasonable basis for these assumptions. Further the firm used certain external data to develop an expectation for the range of these significant assumptions but did not perform procedures to evaluate the relevance of this data. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 5 AS 2501 16 The firm's approach for substantively testing the ALL was to test the issuer's process. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the reasonableness of certain other significant assumptions. (AS 2501.16) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 6 AS 2301 8 The firm's approach for substantively testing the ALL was to test the issuer's process. The following deficiencies were identified: · The firm did not perform any procedures to test or in the alternative sufficiently test controls over the accuracy of certain data produced by the service organization and used by the issuer in estimating the ALL. (AS 2301.08 and .11) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 6 AS 2301 11 The firm's approach for substantively testing the ALL was to test the issuer's process. The following deficiencies were identified: · The firm did not perform any procedures to test or in the alternative sufficiently test controls over the accuracy of certain data produced by the service organization and used by the issuer in estimating the ALL. (AS 2301.08 and .11) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 7 AS 2201 39 The firm did not identify and test any controls over journal entries to address the risk of management override of controls. (AS 2201.39) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 1 AS 1105 4 The firm's approach for substantively testing the ALL was to test the issuer's process. The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions because the firm did not evaluate whether the issuer had a reasonable basis for these assumptions. Further the firm used certain external data to develop an expectation for the range of these significant assumptions but did not perform procedures to evaluate the relevance of this data. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 1 AS 1105 6 The firm's approach for substantively testing the ALL was to test the issuer's process. The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions because the firm did not evaluate whether the issuer had a reasonable basis for these assumptions. Further the firm used certain external data to develop an expectation for the range of these significant assumptions but did not perform procedures to evaluate the relevance of this data. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 1 AS 2501 16 The firm's approach for substantively testing the ALL was to test the issuer's process. The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions because the firm did not evaluate whether the issuer had a reasonable basis for these assumptions. Further the firm used certain external data to develop an expectation for the range of these significant assumptions but did not perform procedures to evaluate the relevance of this data. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 2 AS 2301 8 The firm's approach for substantively testing the ALL was to test the issuer's process. The issuer used certain data produced by its service organization to develop the ALL. The firm did not perform procedures to test the accuracy of this data. (AS 2301.08 and .11) Triennially Inspected 1884 Bonadio & Co., LLP 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 2 AS 2301 11 The firm's approach for substantively testing the ALL was to test the issuer's process. The issuer used certain data produced by its service organization to develop the ALL. The firm did not perform procedures to test the accuracy of this data. (AS 2301.08 and .11) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2310 28 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. To test certain revenue the firm relied on confirmations from customers. The issuer's sales personnel directly contacted the customers and obtained customer signatures as proof of customer receipt of goods purchased. The issuer provided the firm with the signed confirmations. The firm did not maintain control over the confirmation requests and responses through direct communication between the firm and the intended recipients of the confirmation requests. (AS 2310.28) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain other revenue the firm vouched monthly total cash receipts for certain payment methods for certain months to bank statements and for the remaining months selected three cash receipts per month and vouched them to bank statements. The firm did not: · Perform any procedures to test whether the performance obligations had been satisfied before revenue was recognized; (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain other revenue the firm vouched monthly total cash receipts for certain payment methods for certain months to bank statements and for the remaining months selected three cash receipts per month and vouched them to bank statements. The firm did not: · Perform any procedures to test whether the performance obligations had been satisfied before revenue was recognized; (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 4 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain other revenue the firm vouched monthly total cash receipts for certain payment methods for certain months to bank statements and for the remaining months selected three cash receipts per month and vouched them to bank statements. The firm did not: · Evaluate the relevance of the cash receipts information that was used in its testing; (AS 1105.04 and .06) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 6 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain other revenue the firm vouched monthly total cash receipts for certain payment methods for certain months to bank statements and for the remaining months selected three cash receipts per month and vouched them to bank statements. The firm did not: · Evaluate the relevance of the cash receipts information that was used in its testing; (AS 1105.04 and .06) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain other revenue the firm vouched monthly total cash receipts for certain payment methods for certain months to bank statements and for the remaining months selected three cash receipts per month and vouched them to bank statements. The firm did not: · Perform any procedures to test contra revenue. (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain other revenue the firm vouched monthly total cash receipts for certain payment methods for certain months to bank statements and for the remaining months selected three cash receipts per month and vouched them to bank statements. The firm did not: · Perform any procedures to test contra revenue. (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to another type of revenue the firm (1) obtained an issuer-produced summary of daily sales reports for the year and compared the total sales to the general ledger and (2) vouched total cash receipts recorded for the year in the general ledger for that type of revenue to bank statements noting a difference between the amounts. The firm did not: · Perform any procedures to test whether the performance obligations had been satisfied before revenue was recognized; (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to another type of revenue the firm (1) obtained an issuer-produced summary of daily sales reports for the year and compared the total sales to the general ledger and (2) vouched total cash receipts recorded for the year in the general ledger for that type of revenue to bank statements noting a difference between the amounts. The firm did not: · Perform any procedures to test whether the performance obligations had been satisfied before revenue was recognized; (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to another type of revenue the firm (1) obtained an issuer-produced summary of daily sales reports for the year and compared the total sales to the general ledger and (2) vouched total cash receipts recorded for the year in the general ledger for that type of revenue to bank statements noting a difference between the amounts. The firm did not: · Perform any procedures to evaluate the difference identified between total cash receipts for this type of revenue and revenue recorded in the general ledger; (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to another type of revenue the firm (1) obtained an issuer-produced summary of daily sales reports for the year and compared the total sales to the general ledger and (2) vouched total cash receipts recorded for the year in the general ledger for that type of revenue to bank statements noting a difference between the amounts. The firm did not: · Perform any procedures to evaluate the difference identified between total cash receipts for this type of revenue and revenue recorded in the general ledger; (AS 2301.08 and .13) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 7 AS 1105 4 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to another type of revenue the firm (1) obtained an issuer-produced summary of daily sales reports for the year and compared the total sales to the general ledger and (2) vouched total cash receipts recorded for the year in the general ledger for that type of revenue to bank statements noting a difference between the amounts. The firm did not: · Evaluate the relevance of the cash receipts information that was used in its testing. (AS 1105.04 and .06) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 7 AS 1105 6 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to another type of revenue the firm (1) obtained an issuer-produced summary of daily sales reports for the year and compared the total sales to the general ledger and (2) vouched total cash receipts recorded for the year in the general ledger for that type of revenue to bank statements noting a difference between the amounts. The firm did not: · Evaluate the relevance of the cash receipts information that was used in its testing. (AS 1105.04 and .06) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 8 AS 2310 31 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm sent positive confirmation requests to the issuer's customers for a sample of accounts receivable. The firm did not perform sufficient alternative procedures to determine that the recorded amounts of the accounts receivable existed as of the year end because the procedures were limited to tracing to internal documents indicating the date of product delivery. (AS 2310.31) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 9 AS 2501 7 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer entered into a significant transaction during the year. The following deficiencies were identified: · The firm did not perform any procedures to test the valuation of aspects of the transaction. (AS 2501.07) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 10 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer entered into a significant transaction during the year. The following deficiencies were identified: · The firm did not perform procedures to evaluate the accounting for the transaction including the subsequent accounting. (AS 2301.08) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 11 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer entered into a significant transaction during the year. The following deficiencies were identified: · The firm did not perform procedures to evaluate the presentation and disclosures related to the transaction. (AS 2301.08) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 12 AS 2401 67 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer entered into a significant transaction during the year. The following deficiencies were identified: · The firm did not evaluate the business purpose (or lack thereof) of the transaction that appeared unusual due to its timing size or nature including whether it may have been entered into to engage in fraudulent financial reporting or conceal misappropriation of assets given certain facts indicating the transaction was significant and unusual. (AS 2401.67) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Parties Fraud Risk 13 AS 2410 14 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not evaluate whether the issuer had properly identified its related parties and relationships and transactions with related parties including testing the accuracy and completeness of the related parties and relationships and transactions with related parties identified by the issuer. (AS 2410.14) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Parties Fraud Risk 14 AS 2410 17 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required under FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Parties Fraud Risk 14 AS 2810 30 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required under FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Related Parties Fraud Risk 14 AS 2810 31 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures required under FASB ASC Topic 850 Related Party Disclosures. (AS 2410.17; AS 2810.30 and .31) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2301 8 For certain revenue the firm did not sufficiently evaluate whether there was a contract with a customer. Specifically the firm did not assess whether it was probable that the issuer would collect substantially all of the consideration to which it would be entitled in exchange for the goods or services that would be transferred to the customer before revenue was recognized including consideration of contradictory evidence. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2301 13 For certain revenue the firm did not sufficiently evaluate whether there was a contract with a customer. Specifically the firm did not assess whether it was probable that the issuer would collect substantially all of the consideration to which it would be entitled in exchange for the goods or services that would be transferred to the customer before revenue was recognized including consideration of contradictory evidence. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 2851 KCCW Accountancy Corp. 2024 United States 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with a single deficiency Revenue Fraud Risk 1 AS 2810 3 For certain revenue the firm did not sufficiently evaluate whether there was a contract with a customer. Specifically the firm did not assess whether it was probable that the issuer would collect substantially all of the consideration to which it would be entitled in exchange for the goods or services that would be transferred to the customer before revenue was recognized including consideration of contradictory evidence. (AS 2301.08 and .13; AS 2810.03) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 8 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not test transaction prices used in recording revenue for one business entity. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 11 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not test transaction prices used in recording revenue for one business entity. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 1105 10 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not test or identify and test any controls over the completeness of a system-generated report used in its substantive procedures to test revenue for this business entity. (AS 1105.10) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 3 AS 2301 8 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform any procedures to test the occurrence and allocation of certain revenue for another business entity. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 3 AS 2301 11 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform any procedures to test the occurrence and allocation of certain revenue for another business entity. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2301 8 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform sufficient procedures to test certain revenue for the above business entity and a third business entity because its procedures were limited to (1) agreeing revenue to sales invoices and (2) documenting the terms of the agreement with customers for certain transactions. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2301 11 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform sufficient procedures to test certain revenue for the above business entity and a third business entity because its procedures were limited to (1) agreeing revenue to sales invoices and (2) documenting the terms of the agreement with customers for certain transactions. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 5 AS 2315 16 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test revenues for each of the three above business entities were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 5 AS 2315 19 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test revenues for each of the three above business entities were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 5 AS 2315 23 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test revenues for each of the three above business entities were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 5 AS 2315 23A The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test revenues for each of the three above business entities were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 6 AS 2301 8 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform sufficient procedures to test revenue for a fourth business entity because it did not test the adjustment of revenue for the redemption of gift cards. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 6 AS 2301 11 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform sufficient procedures to test revenue for a fourth business entity because it did not test the adjustment of revenue for the redemption of gift cards. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 7 AS 2301 8 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform sufficient procedures to test revenue for a fifth business entity because its procedures were limited to agreeing revenue to issuer-produced sales invoices. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 7 AS 2301 11 The issuer recognized revenue from multiple business entities. The following deficiencies were identified: · The firm did not perform sufficient procedures to test revenue for a fifth business entity because its procedures were limited to agreeing revenue to issuer-produced sales invoices. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 8 AS 2201 42 The firm selected for testing a control over the review of a revenue variance analysis but did not evaluate the review procedures that the control owner 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) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 8 AS 2201 44 The firm selected for testing a control over the review of a revenue variance analysis but did not evaluate the review procedures that the control owner 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) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 9 AS 2301 8 The firm did not perform any procedures to test the disclosure related to revenue allocated to remaining performance obligations. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 9 AS 2301 11 The firm did not perform any procedures to test the disclosure related to revenue allocated to remaining performance obligations. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 10 AS 2201 39 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm did not identify and test any controls over accounts receivable for one of the issuer's business entities. (AS 2201.39) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 11 AS 2201 42 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a control over the review of outstanding accounts receivable for another business entity but did not perform any procedures to test the design and operating effectiveness of the control. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 11 AS 2201 44 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a control over the review of outstanding accounts receivable for another business entity but did not perform any procedures to test the design and operating effectiveness of the control. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 12 AS 2201 42 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a control over the review of delinquent accounts receivable for a third business entity but did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the reserve for the recorded accounts receivable. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 12 AS 2201 44 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a control over the review of delinquent accounts receivable for a third business entity but did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the reserve for the recorded accounts receivable. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 13 AS 1105 10 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm did not test or test controls over the accuracy and completeness of system-generated reports used in its substantive testing. (AS 1105.10) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 14 AS 2301 8 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a sample of accounts receivable for certain business entities and unbilled receivables for certain other business entities. The following deficiencies were identified: · The firm did not perform any procedures over accounts receivable selected for testing that were not collected or were only partially collected in subsequent periods. (AS 2301.08) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 15 AS 2301 8 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a sample of accounts receivable for certain business entities and unbilled receivables for certain other business entities. The following deficiencies were identified: · The firm did not perform any procedures to test whether services had been rendered prior to the issuer's recording of certain unbilled receivables. (AS 2301.08) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 16 AS 2315 16 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a sample of accounts receivable for certain business entities and unbilled receivables for certain other business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 16 AS 2315 19 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a sample of accounts receivable for certain business entities and unbilled receivables for certain other business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 16 AS 2315 23 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a sample of accounts receivable for certain business entities and unbilled receivables for certain other business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 16 AS 2315 23A The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm selected for testing a sample of accounts receivable for certain business entities and unbilled receivables for certain other business entities. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures were too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the populations the allowable risk of incorrect acceptance and the characteristics of the populations. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 17 AS 2301 8 The issuer reported accounts receivables including unbilled receivables for multiple business entities. The firm did not perform sufficient procedures to test the valuation of accounts receivable and unbilled receivables because its procedures to test the allowance for doubtful accounts were limited to inquiry of management. (AS 2301.08) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cash Significant Risk 18 AS 2301 45 The firm did not perform procedures beyond obtaining a certification from issuer personnel to extend its conclusions regarding the existence of cash on hand from the interim date in which the audit procedures were performed to year end. (AS 2301.45) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cash Significant Risk 19 AS 2301 8 The firm did not perform any procedures to test certain other cash held at banking institutions. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cash Significant Risk 19 AS 2301 11 The firm did not perform any procedures to test certain other cash held at banking institutions. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 20 AS 2201 42 The firm selected for testing certain controls that included the review of goodwill and intangible assets for potential impairment. The firm did not evaluate the specific review procedures performed by the control owners to assess the reasonableness of the methodologies and assumptions used in the issuer's goodwill and indefinite-lived intangible assets impairment analyses. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets 20 AS 2201 42 The firm selected for testing certain controls that included the review of goodwill and intangible assets for potential impairment. The firm did not evaluate the specific review procedures performed by the control owners to assess the reasonableness of the methodologies and assumptions used in the issuer's goodwill and indefinite-lived intangible assets impairment analyses. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 20 AS 2201 44 The firm selected for testing certain controls that included the review of goodwill and intangible assets for potential impairment. The firm did not evaluate the specific review procedures performed by the control owners to assess the reasonableness of the methodologies and assumptions used in the issuer's goodwill and indefinite-lived intangible assets impairment analyses. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets 20 AS 2201 44 The firm selected for testing certain controls that included the review of goodwill and intangible assets for potential impairment. The firm did not evaluate the specific review procedures performed by the control owners to assess the reasonableness of the methodologies and assumptions used in the issuer's goodwill and indefinite-lived intangible assets impairment analyses. (AS 2201.42 and .44) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 21 AS 2301 8 The firm did not perform any procedures to test (1) the appropriateness of the issuer's determination that it operated as a single reporting unit for purposes of its impairment analysis in accordance with FASB ASC Topic 350 Intangibles – Goodwill and Other and (2) whether the issuer's conclusion that the customer relationship intangible asset had an indefinite life was in accordance with FASB ASC Topic 350. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets 21 AS 2301 8 The firm did not perform any procedures to test (1) the appropriateness of the issuer's determination that it operated as a single reporting unit for purposes of its impairment analysis in accordance with FASB ASC Topic 350 Intangibles – Goodwill and Other and (2) whether the issuer's conclusion that the customer relationship intangible asset had an indefinite life was in accordance with FASB ASC Topic 350. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 21 AS 2301 11 The firm did not perform any procedures to test (1) the appropriateness of the issuer's determination that it operated as a single reporting unit for purposes of its impairment analysis in accordance with FASB ASC Topic 350 Intangibles – Goodwill and Other and (2) whether the issuer's conclusion that the customer relationship intangible asset had an indefinite life was in accordance with FASB ASC Topic 350. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets 21 AS 2301 11 The firm did not perform any procedures to test (1) the appropriateness of the issuer's determination that it operated as a single reporting unit for purposes of its impairment analysis in accordance with FASB ASC Topic 350 Intangibles – Goodwill and Other and (2) whether the issuer's conclusion that the customer relationship intangible asset had an indefinite life was in accordance with FASB ASC Topic 350. (AS 2301.08 and .11) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 22 AS 2401 61 The firm did not (1) appropriately consider the characteristics of potentially fraudulent journal entries when identifying and selecting journal entries for testing and (2) examine the underlying support for journal entries selected for testing. (AS 2401.61) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Corrected and Uncorrected Misstatements 23 AS 2810 17 The firm identified corrected and uncorrected misstatements during its substantive audit procedures. The firm did not evaluate whether the uncorrected misstatements were material individually or in combination with other misstatements. (AS 2810.17) Triennially Inspected 3199 K G Somani & Co. LLP 2024 India 2025-03-27T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Corrected and Uncorrected Misstatements 24 AS 2201 B8 The firm identified corrected and uncorrected misstatements during its substantive audit procedures. The firm did not evaluate the effects of the corrected and uncorrected misstatements on its conclusions regarding the effectiveness of ICFR. (AS 2201.B8) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets 1 AS 2501 16 The issuer performed a quantitative assessment of impairment of its intangible assets. The firm did not perform procedures to evaluate the reasonableness of certain significant assumptions used in the issuer's quantitative assessment beyond (1) inquiry (2) obtaining and reading the issuer's analysis certain internal documentation and letters of intent from customers and (3) performing a sensitivity analysis. (AS 2501.16) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets 2 AS 2501 16 The issuer performed a quantitative assessment of impairment of its intangible assets. The firm did not sufficiently evaluate the reasonableness of the significant assumption related to the discount rate the issuer used in the quantitative assessment because it limited its procedures to comparing this assumption to the issuer's cost of borrowing. (AS 2501.16) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 3 AS 2810 30 During the year the issuer completed a significant transaction. The firm did not identify and evaluate departures from GAAP related to the issuer's presentation of this transaction in the financial statements. (AS 2810.30 and .31) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 3 AS 2810 31 During the year the issuer completed a significant transaction. The firm did not identify and evaluate departures from GAAP related to the issuer's presentation of this transaction in the financial statements. (AS 2810.30 and .31) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 4 AS 2810 30 During the year the issuer completed a significant transaction. The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain required disclosures related to this transaction. (AS 2810.30 and .31) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Transaction 4 AS 2810 31 During the year the issuer completed a significant transaction. The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain required disclosures related to this transaction. (AS 2810.30 and .31) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2501 7 The issuer recognized certain revenue based on its estimated progress toward complete satisfaction of the performance obligations. The firm did not perform procedures to test this revenue beyond selecting a sample of revenue transactions and vouching them to contracts and invoices. (AS 2501.07) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The issuer recognized certain revenue based on its estimated progress toward complete satisfaction of the performance obligations. The firm did not perform any procedures to test a disclosure related to this revenue. (AS 2301.08) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Significant Account 1 AS 2301 8 The issuer recorded a significant account based on an agreement with an external party. The firm did not perform sufficient procedures to evaluate whether the issuer appropriately accounted for this significant account in accordance with GAAP because it limited its procedures to concluding that the significant account was appropriately recorded based on certain GAAP guidance that specifically excluded the significant account. (AS 2301.08) Triennially Inspected 6743 J&S Associate PLT 2024 Malaysia 2025-03-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Significant Account 2 AS 2301 8 The issuer recorded a significant account based on an agreement with an external party. The firm did not evaluate the effect of the issuer's non-compliance with a requirement of the agreement on the accounting for the significant account. (AS 2301.08) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 1105 A10 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform procedures to test the quantitative assessment of goodwill performed during the year beyond inquiry and obtaining and reading the company's specialist report. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 1105 A6 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform procedures to test the quantitative assessment of goodwill performed during the year beyond inquiry and obtaining and reading the company's specialist report. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 1105 A7 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform procedures to test the quantitative assessment of goodwill performed during the year beyond inquiry and obtaining and reading the company's specialist report. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 1105 A8 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform procedures to test the quantitative assessment of goodwill performed during the year beyond inquiry and obtaining and reading the company's specialist report. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 1105 A9 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform procedures to test the quantitative assessment of goodwill performed during the year beyond inquiry and obtaining and reading the company's specialist report. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2501 7 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform procedures to test the quantitative assessment of goodwill performed during the year beyond inquiry and obtaining and reading the company's specialist report. Further the firm did not perform any procedures to evaluate the work of the company's specialist. (AS 1105.A6 - .A10; AS 2501.07) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 2 AS 1105 A8a The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the relevance of data related to comparable companies used by the company's specialist in the year-end quantitative assessment because it did not evaluate (1) the relative values of income statement accounts in concluding that the companies were comparable and (2) that the data used from certain of the comparable companies was significantly dated. (AS 1105.A8a) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 3 AS 1105 A8a The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the reasonableness of a significant assumption developed and used by the company's specialist in the year-end quantitative assessment. (AS 1105.A8b) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2810 30 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not identify and evaluate a GAAP departure related to the issuer's omission of a disclosure related to goodwill that is required by FASB ASC Topic 350 Intangibles – Goodwill and Other. (AS 2810.30 and .31) Triennially Inspected 106 Salberg & Company, P.A. 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill Significant Risk 4 AS 2810 31 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. During the year after identifying impairment indicators the issuer performed a quantitative assessment of impairment. At year end the issuer performed its annual goodwill impairment assessment using a quantitative assessment. The issuer engaged a specialist to perform both assessments. The following deficiencies were identified: · The firm did not identify and evaluate a GAAP departure related to the issuer's omission of a disclosure related to goodwill that is required by FASB ASC Topic 350 Intangibles – Goodwill and Other. (AS 2810.30 and .31) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 19 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer used a customized application for processing and recording transactions related to revenue. The firm tested the design and operating effectiveness of information technology general controls (ITGCs) and certain automated and IT-dependent manual controls over this application in order to rely on the completeness and accuracy of data and reports produced by the application and used by the firm in its substantive procedures. The following deficiencies were identified: · The firm selected for testing controls over the review and approval of program changes but did not evaluate whether the controls were designed to address the risk that developers have the ability to develop and promote changes to production environments. (AS 2301.19) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer used a customized application for processing and recording transactions related to revenue. The firm tested the design and operating effectiveness of information technology general controls (ITGCs) and certain automated and IT-dependent manual controls over this application in order to rely on the completeness and accuracy of data and reports produced by the application and used by the firm in its substantive procedures. The following deficiencies were identified: · The firm selected for testing controls 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 application. (AS 1105.10) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 18 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer used a customized application for processing and recording transactions related to revenue. The firm tested the design and operating effectiveness of information technology general controls (ITGCs) and certain automated and IT-dependent manual controls over this application in order to rely on the completeness and accuracy of data and reports produced by the application and used by the firm in its substantive procedures. The following deficiencies were identified: · The firm selected for testing certain automated and IT-dependent manual controls over this revenue. The firm's approach to testing these controls depended on effective ITGCs including controls over change management. As a result of the deficiencies in the firm's testing of the controls discussed above the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2301.18) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 16 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer used a customized application for processing and recording transactions related to revenue. The firm tested the design and operating effectiveness of information technology general controls (ITGCs) and certain automated and IT-dependent manual controls over this application in order to rely on the completeness and accuracy of data and reports produced by the application and used by the firm in its substantive procedures. The following deficiencies were identified: · The firm did not identify and test controls that addressed the issuer's evaluation of the reliability of external information used in the operation of certain controls the firm selected for testing. (AS 2301.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm did not perform procedures to test the issuer's segment reporting disclosures related to revenue beyond obtaining an issuer-prepared schedule. (AS 2301.08) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Significant Risk 6 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm used certain information produced by the issuer's service organization to test digital assets but did not perform procedures that addressed the accuracy and completeness of this data. (AS 2301.08 and .11) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Significant Risk 6 AS 2301 11 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm used certain information produced by the issuer's service organization to test digital assets but did not perform procedures that addressed the accuracy and completeness of this data. (AS 2301.08 and .11) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Significant Risk 7 AS 1105 4 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm used certain other external information to test digital assets but did not perform procedures to evaluate the reliability of the information beyond obtaining an understanding of the source of the data. (AS 1105.04 and .06) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Digital Assets Significant Risk 7 AS 1105 6 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm used certain other external information to test digital assets but did not perform procedures to evaluate the reliability of the information beyond obtaining an understanding of the source of the data. (AS 1105.04 and .06) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 34 The issuer used a customized application for processing and recording transactions related to revenue. The firm tested the design and operating effectiveness of ITGCs and certain automated controls over this application in order to rely on the completeness and accuracy of data and reports produced by the application and used by the firm in its substantive procedures over certain revenue. The firm determined that certain ITGCs were not effective at year end. The following deficiencies were identified: · The firm did not evaluate the severity of the ITGC deficiencies and the effect on its control risk assessment. (AS 2301.34) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 18 The issuer used a customized application for processing and recording transactions related to revenue. The firm tested the design and operating effectiveness of ITGCs and certain automated controls over this application in order to rely on the completeness and accuracy of data and reports produced by the application and used by the firm in its substantive procedures over certain revenue. The firm determined that certain ITGCs were not effective at year end. The following deficiencies were identified: · The firm's approach to testing certain automated controls depended on effective ITGCs. As a result of the control deficiencies that the firm identified as discussed above the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2301.18) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Restricted Cash 3 AS 2301 8 The firm did not perform procedures to test certain disclosures related to the nature of restrictions for restricted cash beyond reading the issuer's prior year financial statements. (AS 2301.08) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm selected a sample of transactions to test revenue. The firm did not perform procedures other than reviewing certain information on selected invoices to test whether the delivery of services had occurred prior to the issuer's recognition of revenue for certain sampled transactions. (AS 2301.08 and .13) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm selected a sample of transactions to test revenue. The firm did not perform procedures other than reviewing certain information on selected invoices to test whether the delivery of services had occurred prior to the issuer's recognition of revenue for certain sampled transactions. (AS 2301.08 and .13) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 24 The firm selected a sample of transactions to test revenue. The firm selected its sample of transactions from three of the four types of revenue. The firm did not perform any procedures to test the fourth type of revenue. (AS 2315.24) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Business Combination 3 AS 1105 10 During the year the issuer acquired a business that resulted in an acquired intangible asset. The firm did not perform any procedures to test or identify and test controls over the accuracy and completeness of issuer-produced data it used to evaluate the reasonableness of a significant assumption. (AS 1105.10) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Business Combination 4 AS 2810 30 During the year the issuer acquired a business that resulted in an acquired intangible asset. The firm did not identify and evaluate the issuer's omission of certain disclosures related to this business combination that were required by FASB ASC Topic 805 Business Combinations. (AS 2810.30 and .31) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Business Combination 4 AS 2810 31 During the year the issuer acquired a business that resulted in an acquired intangible asset. The firm did not identify and evaluate the issuer's omission of certain disclosures related to this business combination that were required by FASB ASC Topic 805 Business Combinations. (AS 2810.30 and .31) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 1 AS 1105 4 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to comparing the assumptions to industry information. Further the firm did not perform any procedures to evaluate the reliability of the industry information. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 1 AS 1105 6 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to comparing the assumptions to industry information. Further the firm did not perform any procedures to evaluate the reliability of the industry information. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 1 AS 2501 16 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer because it limited its procedures to comparing the assumptions to industry information. Further the firm did not perform any procedures to evaluate the reliability of the industry information. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 2 AS 1105 4 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of another significant assumption developed by the issuer because it limited its procedures to comparing the assumption to industry information without evaluating the significant difference between the assumption and the industry information. Further the firm did not evaluate the reliability of the industry information. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 2 AS 1105 6 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of another significant assumption developed by the issuer because it limited its procedures to comparing the assumption to industry information without evaluating the significant difference between the assumption and the industry information. Further the firm did not evaluate the reliability of the industry information. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 2 AS 2501 16 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of another significant assumption developed by the issuer because it limited its procedures to comparing the assumption to industry information without evaluating the significant difference between the assumption and the industry information. Further the firm did not evaluate the reliability of the industry information. (AS 1105.04 and .06; AS 2501.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 3 AS 1105 A8a During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform any procedures to test the accuracy and completeness of certain issuer-produced data used by the company's specialist to develop a significant assumption. (AS 1105.A8a) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 4 AS 1105 4 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the reliability of industry information it used to evaluate the reasonableness of an assumption developed by the company's specialist. (AS 1105.04 and .06) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 4 AS 1105 6 During the year the issuer acquired a business and engaged a specialist to determine the fair value of an acquired intangible asset. The following deficiencies were identified: · The firm did not perform any procedures to evaluate the reliability of industry information it used to evaluate the reasonableness of an assumption developed by the company's specialist. (AS 1105.04 and .06) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 16 The firm tested the design and operating effectiveness of certain ITGCs over the issuer's general ledger and other systems in order to rely on the accuracy and completeness of underlying data produced by the issuer that was used in the firm's substantive testing of certain revenue. The firm identified deficiencies in its testing of certain ITGCs. The following deficiencies were identified: · The firm identified compensating controls but did not perform any procedures to test the design and operating effectiveness of those controls during the entire period of reliance. (AS 2301.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 18 The firm tested the design and operating effectiveness of certain ITGCs over the issuer's general ledger and other systems in order to rely on the accuracy and completeness of underlying data produced by the issuer that was used in the firm's substantive testing of certain revenue. The firm identified deficiencies in its testing of certain ITGCs. The following deficiencies were identified: · The firm selected for testing certain automated and IT-dependent manual controls over this revenue. The firm's approach to testing these controls depended on effective IT general controls (ITGCs). As a result of the deficiency in the firm's testing of the controls discussed above the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2301.18) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer's customer determined the amount of consideration for the performance obligations at the time the issuer satisfied its obligations. The firm did not perform procedures to assess whether (1) the issuer's determination of transaction price used to recognize revenue was appropriate and (2) the issuer satisfied its performance obligations prior to the recognition of revenue beyond reading the issuer's revenue recognition memo and confirming with the issuer's customer the payments made to the issuer. (AS 2301.08 and .13) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The issuer's customer determined the amount of consideration for the performance obligations at the time the issuer satisfied its obligations. The firm did not perform procedures to assess whether (1) the issuer's determination of transaction price used to recognize revenue was appropriate and (2) the issuer satisfied its performance obligations prior to the recognition of revenue beyond reading the issuer's revenue recognition memo and confirming with the issuer's customer the payments made to the issuer. (AS 2301.08 and .13) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2305 16 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm's substantive procedures to test revenue included substantive analytical procedures. The firm used external data and data derived from the recorded amounts of revenue to develop its expectation. The firm did not evaluate whether the external data was sufficiently reliable for purposes of achieving its audit objective beyond obtaining an understanding of the source of the data. (AS 2305.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 4 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm's substantive procedures to test revenue included substantive analytical procedures. The firm used external data and data derived from the recorded amounts of revenue to develop its expectation. The firm did not evaluate whether the data derived from recorded amounts of revenue was sufficiently relevant and reliable for the purpose of achieving its audit objective. (AS 1105.04 and .06; AS 2305.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 6 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm's substantive procedures to test revenue included substantive analytical procedures. The firm used external data and data derived from the recorded amounts of revenue to develop its expectation. The firm did not evaluate whether the data derived from recorded amounts of revenue was sufficiently relevant and reliable for the purpose of achieving its audit objective. (AS 1105.04 and .06; AS 2305.16) Triennially Inspected 206 MaloneBailey, LLP 2023 United States 2025-02-27T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2305 16 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm's substantive procedures to test revenue included substantive analytical procedures. The firm used external data and data derived from the recorded amounts of revenue to develop its expectation. The firm did not evaluate whether the data derived from recorded amounts of revenue was sufficiently relevant and reliable for the purpose of achieving its audit objective. (AS 1105.04 and .06; AS 2305.16) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 1 AS 2315 44 The firm designed a substantive procedure for testing four types of revenue as a dual-purpose test. The firm performed its substantive procedure using the sample size it determined for its control testing. This sample size was too small to provide sufficient appropriate audit evidence for the substantive procedure because the firm did not use the larger of the sample sizes that would otherwise have been designed for the two separate purposes. (AS 2315.44) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 2 AS 2301 8 The firm designed a substantive procedure for testing four types of revenue as a dual-purpose test. The firm performed its substantive procedure using the sample size it determined for its control testing. For the selected revenue transactions the firm did not perform procedures to test whether the issuer satisfied its performance obligations prior to the recognition of revenue beyond obtaining certain issuer-produced reports and testing the timing of cash receipts. (AS 2301.08 and .11) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 2 AS 2301 11 The firm designed a substantive procedure for testing four types of revenue as a dual-purpose test. The firm performed its substantive procedure using the sample size it determined for its control testing. For the selected revenue transactions the firm did not perform procedures to test whether the issuer satisfied its performance obligations prior to the recognition of revenue beyond obtaining certain issuer-produced reports and testing the timing of cash receipts. (AS 2301.08 and .11) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 3 AS 2305 13 The firm's substantive procedures to test three of these types of revenue included analytical procedures. The following deficiencies were identified: · The firm did not determine whether the expectations for the three types of revenue used in these analytical procedures were based on predictable relationships. (AS 2305.13 and .14) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 3 AS 2305 14 The firm's substantive procedures to test three of these types of revenue included analytical procedures. The following deficiencies were identified: · The firm did not determine whether the expectations for the three types of revenue used in these analytical procedures were based on predictable relationships. (AS 2305.13 and .14) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 4 AS 2305 20 The firm's substantive procedures to test three of these types of revenue included analytical procedures. The following deficiencies were identified: · The threshold that the firm established to investigate differences for two types of revenue was too high to identify misstatements that could be material either individually or in the aggregate. (AS 2305.20) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 5 AS 2305 21 The firm's substantive procedures to test three of these types of revenue included analytical procedures. The following deficiencies were identified: · The firm identified a difference in excess of the firm's established threshold for the third type of revenue but did not evaluate this difference beyond inquiry of management. (AS 2305.21) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 6 AS 2305 16 The firm's substantive procedures to test three of these types of revenue included analytical procedures. The following deficiencies were identified: · The firm used issuer-produced information to develop its expectation of one of these types of revenue but did not test or in the alternative test any controls over the accuracy of this information. (AS 2305.16) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 7 AS 2301 8 The firm did not perform any substantive procedures to test a fifth type of revenue. (AS 2301.08 and .11) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 7 AS 2301 11 The firm did not perform any substantive procedures to test a fifth type of revenue. (AS 2301.08 and .11) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue and Related Accounts Significant Risk 8 AS 2301 8 The firm did not perform substantive procedures to test the deferred revenue at year end. (AS 2301.08) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Income Taxes Significant Risk 9 AS 2301 8 The firm did not perform procedures to test certain permanent and temporary differences used in calculating the income tax provision beyond vouching these amounts to issuer-prepared schedules. (AS 2301.08 and.11) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Income Taxes Significant Risk 9 AS 2301 11 The firm did not perform procedures to test certain permanent and temporary differences used in calculating the income tax provision beyond vouching these amounts to issuer-prepared schedules. (AS 2301.08 and.11) Triennially Inspected 237 Brown Armstrong Accountancy Corporation 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 10 AS 2401 61 The firm identified fraud criteria for purposes of identifying and selecting journal entries for testing. The firm did not perform procedures to determine whether any journal entries met one of its fraud criteria. In addition the firm obtained a listing of journal entries that met certain of the criteria. The firm did not perform sufficient procedures to test the journal entries in this listing because it limited its procedures to certain entries without having an appropriate rationale for limiting its testing to those journal entries. (AS 2401.61) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 1 AS 1105 10 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 2 AS 2301 18 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 18 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 3 AS 2301 16 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 16 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 3 AS 2301 18 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 18 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 3 AS 2301 37 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 37 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 3 AS 2315 19 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 19 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 3 AS 2315 23 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 23 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Accounts Receivable 3 AS 2315 23A 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2315 23A 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) Triennially Inspected 1390 Doane Grant Thornton LLP 2024 Canada Grant Thornton International Limited 2025-02-27T00:00:00 Part I.A A Yes Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 4 AS 2401 61 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) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform any substantive procedures to evaluate whether the issuer met the revenue recognition criteria prior to recognizing revenue. (AS 2301.08 and .13) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform any substantive procedures to evaluate whether the issuer met the revenue recognition criteria prior to recognizing revenue. (AS 2301.08 and .13) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets 2 AS 2301 8 The firm did not evaluate whether the issuer's accounting for and disclosures related to goodwill and certain intangible assets were in conformity with GAAP. (AS 2301.08) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 58 The firm did not perform any 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) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform any substantive procedures to evaluate whether the issuer met the revenue recognition criteria prior to recognizing revenue. (AS 2301.08 and .13) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform any substantive procedures to evaluate whether the issuer met the revenue recognition criteria prior to recognizing revenue. (AS 2301.08 and .13) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Equity-Related Transactions 2 AS 2501 16 The firm did not perform procedures to evaluate whether the issuer had a reasonable basis for the significant assumptions used to estimate the fair value of the issuer's common stock issued in various share-based transactions beyond obtaining and reading certain issuer-prepared documents. (AS 2501.16) Triennially Inspected 2807 Bansal & Co LLP 2024 India 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 58 The firm did not perform any 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) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Audit Evidence 1 AS 1105 4 The firm did not complete all necessary procedures and obtain sufficient evidence to support the representations in the auditor's report. Specifically the firm did not review the work of engagement team members to evaluate whether the (1) work was performed and documented (2) objectives of the procedures were achieved and (3) results of the procedures performed supported the conclusions reached. (AS 1105.04; AS 1201.05) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Audit Evidence 1 AS 1201 5 The firm did not complete all necessary procedures and obtain sufficient evidence to support the representations in the auditor's report. Specifically the firm did not review the work of engagement team members to evaluate whether the (1) work was performed and documented (2) objectives of the procedures were achieved and (3) results of the procedures performed supported the conclusions reached. (AS 1105.04; AS 1201.05) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Debt 2 AS 2810 30 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain required disclosures related to debt. (AS 2810.30 and .31) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Debt 2 AS 2810 31 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain required disclosures related to debt. (AS 2810.30 and .31) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Debt 3 AS 2301 8 The firm did not evaluate whether the issuer's accounting for debt was in conformity with certain requirements of GAAP. (AS 2301.08) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Account 4 AS 2501 7 The firm did not perform any substantive procedures to test an accounting estimate in a significant account. (AS 2501.07) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 16 The firm selected a sample to test revenue transactions. The following deficiencies were identified: · The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 19 The firm selected a sample to test revenue transactions. The following deficiencies were identified: · The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23 The firm selected a sample to test revenue transactions. The following deficiencies were identified: · The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23A The firm selected a sample to test revenue transactions. The following deficiencies were identified: · The sample size the firm used to perform these substantive procedures was too small to provide sufficient appropriate audit evidence because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 8 The firm selected a sample to test revenue transactions. The following deficiencies were identified: · For the transactions selected for testing the firm did not perform any procedures to evaluate the terms and conditions of the issuer's contracts with these customers to determine if the revenue was recognized in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2301 13 The firm selected a sample to test revenue transactions. The following deficiencies were identified: · For the transactions selected for testing the firm did not perform any procedures to evaluate the terms and conditions of the issuer's contracts with these customers to determine if the revenue was recognized in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 6580 GreenGrowth CPAs 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 7 AS 2401 61 The firm did not perform procedures to identify and test the journal entries that met certain of its fraud criteria. In addition the firm obtained a listing of journal entries and used it to identify journal entries that met certain other of its fraud criteria. The firm did not perform sufficient substantive procedures to test the journal entries that met this other criteria because it (i) limited its procedures to certain journal entries without having an appropriate rationale for limiting its testing to those journal entries and (ii) did not examine the underlying support for those entries it selected for testing. (AS 2401.61) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2101 11 The issuer recognized revenue from multiple business units. In determining the extent to which audit procedures over revenue should be performed at certain business units the firm did not evaluate whether (1) specific risks of material misstatement existed at these business units and (2) the risks of material misstatement the firm identified for the business units subject to more extensive audit procedures also applied to these business units such that in combination they presented a reasonable possibility of material misstatement. (AS 2101.11 and .12) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2101 12 The issuer recognized revenue from multiple business units. In determining the extent to which audit procedures over revenue should be performed at certain business units the firm did not evaluate whether (1) specific risks of material misstatement existed at these business units and (2) the risks of material misstatement the firm identified for the business units subject to more extensive audit procedures also applied to these business units such that in combination they presented a reasonable possibility of material misstatement. (AS 2101.11 and .12) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Investments Significant Risk 2 AS 1105 A8b The issuer engaged an external specialist to determine the fair value of certain investments. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of the significant assumptions developed by the issuer or the company's specialist that were used by the company's specialist in determining the fair value for certain investments. (AS 1105.A8b; AS 2501.16) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Investments Significant Risk 2 AS 2501 16 The issuer engaged an external specialist to determine the fair value of certain investments. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of the significant assumptions developed by the issuer or the company's specialist that were used by the company's specialist in determining the fair value for certain investments. (AS 1105.A8b; AS 2501.16) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Investments Significant Risk 3 AS 1105 A8a The issuer engaged an external specialist to determine the fair value of certain investments. The following deficiencies were identified: · The firm did not evaluate the relevance and reliability of certain data from sources external to the issuer that the company's specialist used to determine the fair value for certain investments. (AS 1105.A8a) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Investments Significant Risk 4 AS 1105 B1 The issuer engaged an external specialist to determine the fair value of certain investments. The following deficiencies were identified: · The firm did not perform or arrange to have another auditor perform auditing procedures to an investee's unaudited financial statements that the company's specialist used to determine the fair value of an investment. (AS 1105.B1 and .B3) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Investments Significant Risk 4 AS 1105 B3 The issuer engaged an external specialist to determine the fair value of certain investments. The following deficiencies were identified: · The firm did not perform or arrange to have another auditor perform auditing procedures to an investee's unaudited financial statements that the company's specialist used to determine the fair value of an investment. (AS 1105.B1 and .B3) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Cash 5 AS 2310 28 The firm used an external digital confirmation platform to confirm certain cash but did not perform any procedures to support its reliance on this digital platform's ability to maintain control over the confirmation requests and responses. (AS 2310.28) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 6 AS 2401 61 For certain of the issuer's business units the firm did not identify and select journal entries and other adjustments for testing without having an appropriate basis for excluding those business units. (AS 2401.61) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2501 10 The firm did not evaluate whether the method used by the issuer to recognize estimated revenue was in conformity with certain requirements of FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2501.10) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not sufficiently evaluate whether the issuer's method to recognize revenue on a gross basis was appropriate because the firm did not evaluate certain indicators of net basis that existed. (AS 2301.08 and .13) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm did not sufficiently evaluate whether the issuer's method to recognize revenue on a gross basis was appropriate because the firm did not evaluate certain indicators of net basis that existed. (AS 2301.08 and .13) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures related to revenue required by FASB ASC Topic 606. (AS 2810.30 and .31) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of certain disclosures related to revenue required by FASB ASC Topic 606. (AS 2810.30 and .31) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Cash 4 AS 2310 28 The firm used an external digital confirmation platform to confirm certain cash but did not perform sufficient procedures to support its reliance on this digital platform's ability to maintain control over the confirmation requests and responses because its procedures were limited to obtaining an understanding of only certain aspects of this digital platform. (AS 2310.28) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 1 AS 1105 4 The firm did not evaluate the relevance of certain evidence it used in its assessment of the recoverability of amounts due from related parties. (AS 1105.04 and .06) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 1 AS 1105 6 The firm did not evaluate the relevance of certain evidence it used in its assessment of the recoverability of amounts due from related parties. (AS 1105.04 and .06) Triennially Inspected 6723 JP Centurion & Partners PLT 2024 Malaysia 2025-02-27T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Related Party Transactions Significant Risk 2 AS 2410 17 The firm did not evaluate the presentation as a current asset of a portion of amounts due from a related party. (AS 2410.17) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2301 8 The firm did not evaluate the appropriateness of the issuer's revenue recognition policy for certain revenue. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2301 8 The firm did not perform sufficient procedures to test a subset of this revenue because it limited its procedures to tracing certain transactions to cash receipts. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 3 AS 2301 8 The firm did not perform procedures to test another subset of revenue beyond reviewing a sales listing obtained from an external source. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 4 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue 4 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 5 AS 2301 8 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not perform procedures to test the rights and obligations of these assets. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 6 AS 1105 4 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not evaluate the relevance and reliability of information it obtained from external sources and used to test these assets. (AS 1105.04 and .06) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 6 AS 1105 6 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not evaluate the relevance and reliability of information it obtained from external sources and used to test these assets. (AS 1105.04 and .06) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 7 AS 2301 8 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not perform any procedures to test the existence of certain of these assets. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 8 AS 2301 8 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not evaluate whether the issuer's (1) accounting for certain of these assets and (2) presentation of certain other of these assets were appropriate. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 9 AS 2301 8 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not sufficiently evaluate the issuer's determination that there were no indicators of impairment for certain of these assets at certain dates because it did not evaluate whether the issuer had appropriately applied GAAP in identifying indicators of impairment. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 10 AS 2301 8 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not perform procedures to test activity reported in the statement of cash flows related to these assets beyond tracing amounts to summarized account activity in the issuer's general ledger. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 11 AS 2501 10 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not evaluate whether the method used by the issuer to develop an estimate of certain of these assets was in conformity with certain applicable GAAP requirements. (AS 2501.10) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 12 AS 2810 30 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 12 AS 2810 31 The issuer reported several types of certain assets. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 820 Fair Value Measurement. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Significant Risk 13 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether the issuer satisfied its performance obligations prior to the recognition of revenue because it limited its procedures to testing cash receipts. (AS 2301.08 and .13) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform sufficient procedures to evaluate whether the issuer satisfied its performance obligations prior to the recognition of revenue because it limited its procedures to testing cash receipts. (AS 2301.08 and .13) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not perform procedures to test sales discounts. (AS 2301.08 and .13) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm did not perform procedures to test sales discounts. (AS 2301.08 and .13) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 10 The firm also did not perform procedures to test or test any controls over the completeness of certain information it used to test revenue. (AS 1105.10) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2810 30 The firm did not identify and evaluate that certain of the issuer's disclosures related to revenue were inaccurate. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2810 31 The firm did not identify and evaluate that certain of the issuer's disclosures related to revenue were inaccurate. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2810 30 The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2810 31 The firm did not identify and evaluate the issuer's omission of certain disclosures required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts 6 AS 2501 16 The firm did not perform procedures beyond inquiry to evaluate the reasonableness of certain significant assumptions the issuer used to develop its valuation of certain significant accounts. (AS 2501.16) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts 7 AS 2501 10 The firm did not evaluate whether the method used by the issuer to develop its estimate related to one of these significant accounts was in conformity with GAAP. (AS 2501.10) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts 8 AS 2501 7 The firm did not perform any procedures to test the valuation of another significant account. (AS 2501.07) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts 9 AS 2301 8 The firm did not perform procedures to evaluate and test certain aspects of this significant account. (AS 2301.08) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Statement of Cash Flows Significant Risk 10 AS 2301 8 The firm did not perform any procedures to test certain information reported in the statement of cash flows including an evaluation of evidence that indicated that the information reported was potentially inaccurate. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Statement of Cash Flows Significant Risk 10 AS 2301 11 The firm did not perform any procedures to test certain information reported in the statement of cash flows including an evaluation of evidence that indicated that the information reported was potentially inaccurate. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Statement of Cash Flows Significant Risk 10 AS 2810 3 The firm did not perform any procedures to test certain information reported in the statement of cash flows including an evaluation of evidence that indicated that the information reported was potentially inaccurate. (AS 2301.08 and .11; AS 2810.03) Triennially Inspected 6771 VICTOR MOKUOLU CPA PLLC 2024 United States 2025-02-27T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Significant Risk 11 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 39 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm did not identify and test any controls over the unsatisfied performance obligations the issuer expected to be recognized as revenue within the next 12 months. (AS 2201.39) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 39 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of unsatisfied performance obligations that it expected to be recognized as revenue beyond the next 12 months. The firm did not identify and test any controls over the accuracy and completeness of the report used in the operation of this control. (AS 2201.39) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2305 13 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm performed a substantive analytical procedure to test this disclosure. The firm did not determine whether the expectation it used in this analytical procedure was based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2305 14 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm performed a substantive analytical procedure to test this disclosure. The firm did not determine whether the expectation it used in this analytical procedure was based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 16 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm established its threshold for investigating differences based on a level of control reliance that was not supported due to the above deficiencies in the firm's testing of controls. As a result the threshold that the firm used did not provide the desired level of assurance that misstatements that could have been material would be identified. (AS 2301.16 .18 and .37; AS 2305.20) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 18 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm established its threshold for investigating differences based on a level of control reliance that was not supported due to the above deficiencies in the firm's testing of controls. As a result the threshold that the firm used did not provide the desired level of assurance that misstatements that could have been material would be identified. (AS 2301.16 .18 and .37; AS 2305.20) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 37 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm established its threshold for investigating differences based on a level of control reliance that was not supported due to the above deficiencies in the firm's testing of controls. As a result the threshold that the firm used did not provide the desired level of assurance that misstatements that could have been material would be identified. (AS 2301.16 .18 and .37; AS 2305.20) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2305 20 The issuer disclosed the amounts of unsatisfied performance obligations. The following deficiencies were identified: · The firm established its threshold for investigating differences based on a level of control reliance that was not supported due to the above deficiencies in the firm's testing of controls. As a result the threshold that the firm used did not provide the desired level of assurance that misstatements that could have been material would be identified. (AS 2301.16 .18 and .37; AS 2305.20) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Pension Assets 5 AS 2310 33 The firm sent a positive confirmation request to the custodian for certain pension plan assets which was returned with exceptions. The firm did not evaluate the nature of these exceptions. (AS 2310.33) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 48 The issuer assigned each loan a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review for a sample of loans of the loan risk ratings assigned to the loans. The firm identified deviations in the operation of this control but did not evaluate the effect of these deviations on the operating effectiveness of the control. (AS 2201.48) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 2 AS 2201 44 The issuer assigned each loan a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review for a sample of loans of the loan risk ratings assigned to the loans. In its testing of the operating effectiveness of this control the firm excluded certain loans from its testing population. (AS 2201.44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 3 AS 2301 8 The issuer assigned each loan a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm's substantive procedures to test the reasonableness of the assigned loan risk ratings for certain loans included making a selection of loans for testing. The firm identified differences in the assigned loan risk ratings but did not evaluate the effect of these differences on whether it had obtained sufficient appropriate audit evidence. Further the firm did not perform any substantive procedures to test the loan risk ratings for the loans that were excluded from the firm's control testing procedures discussed above. (AS 2301.08) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A C No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 42 The issuer determined the qualitative reserve component of the ACL using various qualitative factors. The firm selected for testing controls that included the issuer's reviews of these factors. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these factors. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A C No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 44 The issuer determined the qualitative reserve component of the ACL using various qualitative factors. The firm selected for testing controls that included the issuer's reviews of these factors. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these factors. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A C No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 2 AS 2201 42 The issuer assigned each loan a loan risk rating which was an important input in estimating the quantitative component of the ACL. The firm selected for testing a control that included the issuer's review of the risk ratings for certain loans. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these risk ratings. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A C No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 2 AS 2201 44 The issuer assigned each loan a loan risk rating which was an important input in estimating the quantitative component of the ACL. The firm selected for testing a control that included the issuer's review of the risk ratings for certain loans. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these risk ratings. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A C No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 3 AS 2201 39 The issuer assigned each loan a loan risk rating which was an important input in estimating the quantitative component of the ACL. The firm selected for testing a control that included the issuer's review of the risk ratings for certain loans. For this control and two other controls the firm selected for testing over the ACL the firm did not identify and test any controls over the accuracy and completeness of certain loan information used in the operation of these controls. (AS 2201.39) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 39 The issuer disclosed the amount of unsatisfied performance obligations. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of this disclosure. The firm did not identify and test any controls over the accuracy and completeness of the issuer-prepared schedules related to this disclosure that were used in the operation of this control. (AS 2201.39) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 1105 10 The issuer disclosed the amount of unsatisfied performance obligations. The following deficiencies were identified: · The firm used these issuer-prepared schedules in its substantive testing of this disclosure but did not perform any procedures to test or test any controls over the accuracy and completeness of these schedules. (AS 1105.10) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2810 30 The issuer disclosed the amount of unsatisfied performance obligations. The following deficiencies were identified: · The firm did not identify and evaluate a misstatement in this required disclosure under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2810 31 The issuer disclosed the amount of unsatisfied performance obligations. The following deficiencies were identified: · The firm did not identify and evaluate a misstatement in this required disclosure under FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 39 The issuer performed cycle counts of certain inventory. The firm did not identify and test any controls that addressed whether this inventory was counted with sufficient frequency in accordance with the issuer's cycle-count policy. (AS 2201.39) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2510 11 The firm did not obtain sufficient appropriate audit evidence that the cycle-count procedures the issuer used for this inventory were sufficiently reliable to produce results substantially the same as those that would have been obtained by a count of all items each year. (AS 2510.11) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Leases 1 AS 1105 A8a The issuer engaged specialists to determine the fair value of certain leased assets using various data and assumptions. The following deficiencies were identified: · The firm did not perform procedures to (1) test the accuracy and completeness of issuer-produced data used by the company's specialists and (2) evaluate the relevance and reliability of external information used by one of the company's specialists. (AS 1105.A8a) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Leases 2 AS 1105 A8b The issuer engaged specialists to determine the fair value of certain leased assets using various data and assumptions. The following deficiencies were identified: · The firm did not evaluate the reasonableness of significant assumptions used by the company's specialists. (AS 1105.A8b) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Leases 1 AS 2201 42 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's reviews of these operating results and cash-flow forecasts. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of excluding these costs. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 1 AS 2201 42 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's reviews of these operating results and cash-flow forecasts. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of excluding these costs. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Leases 1 AS 2201 44 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's reviews of these operating results and cash-flow forecasts. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of excluding these costs. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 1 AS 2201 44 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's reviews of these operating results and cash-flow forecasts. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of excluding these costs. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Leases 2 AS 2301 8 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm used these operating results in its substantive procedures to evaluate whether any impairment indicators existed for these assets. The firm did not evaluate whether these excluded costs were directly associated with the identified asset groups. (AS 2301.08) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 2 AS 2301 8 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm used these operating results in its substantive procedures to evaluate whether any impairment indicators existed for these assets. The firm did not evaluate whether these excluded costs were directly associated with the identified asset groups. (AS 2301.08) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Leases 3 AS 2501 10 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm's approach for substantively testing the recoverability of certain of these assets was to test the issuer's process. The firm did not evaluate whether the issuer's method to determine the recoverability of these assets using cash-flow forecasts that excluded these costs was in conformity with FASB ASC Topic 360 Property Plant and Equipment. (AS 2501.10) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 3 AS 2501 10 The issuer used (1) store-level operating results to evaluate whether any impairment indicators existed for its long-lived assets including lease right-of-use assets and (2) store-level cash-flow forecasts to evaluate the recoverability of certain of these assets. The issuer excluded certain costs from these analyses. The following deficiencies were identified: · The firm's approach for substantively testing the recoverability of certain of these assets was to test the issuer's process. The firm did not evaluate whether the issuer's method to determine the recoverability of these assets using cash-flow forecasts that excluded these costs was in conformity with FASB ASC Topic 360 Property Plant and Equipment. (AS 2501.10) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A H No ICFR audit only Audits with a single deficiency Investment Securities 1 AS 2201 42 The issuer recorded available-for-sale securities at fair value. The firm selected for testing a control that included comparing recorded prices from an external service provider to prices determined by the control owner. The firm did not evaluate the specific review procedures that the control owner performed to (1) determine the comparative prices and (2) to identify items for follow-up. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A H No ICFR audit only Audits with a single deficiency Investment Securities 1 AS 2201 44 The issuer recorded available-for-sale securities at fair value. The firm selected for testing a control that included comparing recorded prices from an external service provider to prices determined by the control owner. The firm did not evaluate the specific review procedures that the control owner performed to (1) determine the comparative prices and (2) to identify items for follow-up. (AS 2201.42 and .44) Annually Inspected 34 Deloitte & Touche LLP 2024 United States Deloitte Touche Tohmatsu Limited 2025-02-26T00:00:00 Part I.A I No Financial statement audit only Audits with a single deficiency Certain Assets 1 AS 2301 8 The firm did not perform sufficient procedures to evaluate the issuer's presentation of certain assets as current assets because it did not evaluate beyond inquiring of management the issuer's intent to consume all of these assets within one year from the balance sheet date. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 2 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing a control over the segregation of duties related to the ability to develop and implement changes to certain of these IT systems. The firm did not test whether users with the ability to implement code changes also had the ability to develop those changes. Further the firm did not test whether the ability to implement configuration changes was appropriately restricted to authorized users. (AS 2201.42 and .44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 2 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing a control over the segregation of duties related to the ability to develop and implement changes to certain of these IT systems. The firm did not test whether users with the ability to implement code changes also had the ability to develop those changes. Further the firm did not test whether the ability to implement configuration changes was appropriately restricted to authorized users. (AS 2201.42 and .44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 2 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing a control over the segregation of duties related to the ability to develop and implement changes to certain of these IT systems. The firm did not test whether users with the ability to implement code changes also had the ability to develop those changes. Further the firm did not test whether the ability to implement configuration changes was appropriately restricted to authorized users. (AS 2201.42 and .44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 2 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing a control over the segregation of duties related to the ability to develop and implement changes to certain of these IT systems. The firm did not test whether users with the ability to implement code changes also had the ability to develop those changes. Further the firm did not test whether the ability to implement configuration changes was appropriately restricted to authorized users. (AS 2201.42 and .44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 3 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing controls that consisted of the issuer's testing and approval of system changes prior to implementation into the production environment. In its testing of the operating effectiveness of certain of these controls the firm excluded certain types of changes from its testing population. (AS 2201.44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 3 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing controls that consisted of the issuer's testing and approval of system changes prior to implementation into the production environment. In its testing of the operating effectiveness of certain of these controls the firm excluded certain types of changes from its testing population. (AS 2201.44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 4 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing controls that consisted of the issuer's testing and approval of system changes prior to implementation into the production environment. For certain other of these controls the firm did not test or test any controls over the completeness of the population of items from which it selected its sample for testing. (AS 1105.10) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 4 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing controls that consisted of the issuer's testing and approval of system changes prior to implementation into the production environment. For certain other of these controls the firm did not test or test any controls over the completeness of the population of items from which it selected its sample for testing. (AS 1105.10) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 5 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing controls over the issuer's monitoring of system changes. The firm did not identify and test any controls over the accuracy and completeness of certain reports that the issuer 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 material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 5 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and the related deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. ·The firm selected for testing controls over the issuer's monitoring of system changes. The firm did not identify and test any controls over the accuracy and completeness of certain reports that the issuer 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 material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 6 AS 2201 42 The firm selected for testing two controls over the transfer of data between certain of the issuer's revenue systems and the general ledger. For the first control the firm did not test the configuration or programming of certain automated aspects of the control or perform other procedures to test this control that would have provided sufficient appropriate audit evidence that these automated aspects of the control 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 material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 6 AS 2201 44 The firm selected for testing two controls over the transfer of data between certain of the issuer's revenue systems and the general ledger. For the first control the firm did not test the configuration or programming of certain automated aspects of the control or perform other procedures to test this control that would have provided sufficient appropriate audit evidence that these automated aspects of the control 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 material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 7 AS 2201 39 The firm selected for testing two controls over the transfer of data between certain of the issuer's revenue systems and the general ledger. For the second control the firm did not identify and test any controls over the accuracy and completeness of certain data that the control owner used 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 material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 8 AS 2201 42 With respect to revenue and deferred revenue at certain business units that the firm subjected to more extensive audit procedures the following deficiencies were identified: The firm selected for testing two controls that consisted of the issuer's (1) identification of matters at its business units that could affect revenue recognition and (2) review of certain new and modified contracts for appropriate revenue recognition. The issuer used the matters identified in the first control as the population of contracts to be reviewed in the second control. The firm did not evaluate whether the first control was designed to address whether a complete population of these new and modified contracts was identified for review in the second control. (AS 2201.42) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 8 AS 2201 42 With respect to revenue and deferred revenue at certain business units that the firm subjected to more extensive audit procedures the following deficiencies were identified: The firm selected for testing two controls that consisted of the issuer's (1) identification of matters at its business units that could affect revenue recognition and (2) review of certain new and modified contracts for appropriate revenue recognition. The issuer used the matters identified in the first control as the population of contracts to be reviewed in the second control. The firm did not evaluate whether the first control was designed to address whether a complete population of these new and modified contracts was identified for review in the second control. (AS 2201.42) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 9 AS 2201 39 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the relative standalone selling prices. The relative standalone selling prices were determined based in part on the issuer's categorization of its product offerings and pricing discounts it offered its customers. The following deficiencies were identified: · The firm did not identify and test any controls over the issuer's categorization of its product offerings and pricing discounts that were used to determine the standalone selling prices. (AS 2201.39) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 10 AS 2201 44 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the relative standalone selling prices. The relative standalone selling prices were determined based in part on the issuer's categorization of its product offerings and pricing discounts it offered its customers. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review and approval of the selling price data used to determine the standalone selling prices. The firm did not evaluate the specific review procedures that the control owners performed to evaluate exceptions identified for certain items that were selected for testing. (AS 2201.44) In connection with our review the issuer reevaluated its controls over revenue including IT controls and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 11 AS 2201 39 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the relative standalone selling prices. The relative standalone selling prices were determined based in part on the issuer's categorization of its product offerings and pricing discounts it offered its customers. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review and approval of the selling price data used to determine the standalone selling prices. The firm did not identify and test any controls over the accuracy and completeness of a system-generated report that the control owners used 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 material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 12 AS 2201 39 The firm selected for testing a control over the automated recognition of certain revenue when electronic delivery occurred. The firm did not identify and test any controls over the accuracy and completeness of the electronic delivery dates used 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 material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include these additional material weaknesses. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Accounts Receivable 13 AS 1105 10 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The firm did not perform procedures to test or sufficiently test controls over the completeness of certain reports the firm used in its substantive testing. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 13 AS 1105 10 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The firm did not perform procedures to test or sufficiently test controls over the completeness of certain reports the firm used in its substantive testing. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 13 AS 1105 10 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The firm did not perform procedures to test or sufficiently test controls over the completeness of certain reports the firm used in its substantive testing. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Accounts Receivable 14 AS 2301 16 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 14 AS 2301 16 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 14 AS 2301 16 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Accounts Receivable 14 AS 2301 18 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 14 AS 2301 18 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 14 AS 2301 18 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Accounts Receivable 14 AS 2301 37 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 14 AS 2301 37 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 14 AS 2301 37 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Accounts Receivable 14 AS 2315 19 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 14 AS 2315 19 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 14 AS 2315 19 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Accounts Receivable 14 AS 2315 23 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 14 AS 2315 23 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 14 AS 2315 23 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Accounts Receivable 14 AS 2315 23A As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 14 AS 2315 23A As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 14 AS 2315 23A As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures over revenue deferred revenue and accounts receivable as follows: · The sample sizes the firm used in certain of its substantive procedures 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) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 15 AS 2201 39 With respect to revenue and deferred revenue at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's reconciliation of the business unit-level financial data to its consolidated general ledger. The firm did not identify and test any controls over the accuracy and completeness of the business unit-level data that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 15 AS 2201 39 With respect to revenue and deferred revenue at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's reconciliation of the business unit-level financial data to its consolidated general ledger. The firm did not identify and test any controls over the accuracy and completeness of the business unit-level data that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Deferred Revenue 16 AS 2301 8 With respect to revenue and deferred revenue at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm did not perform any substantive procedures to test revenue and deferred revenue for these business units. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 16 AS 2301 8 With respect to revenue and deferred revenue at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm did not perform any substantive procedures to test revenue and deferred revenue for these business units. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 1 AS 2201 39 The issuer recognized revenue from contracts with customers that included either standard or nonstandard terms. Certain contracts included an estimate of variable consideration in the transaction price. The following deficiencies were identified: · The firm selected for testing controls that included the issuer's identification and evaluation of contracts with nonstandard terms. The firm did not identify and test any controls over the completeness of certain information that the control owners used in the operation of these controls. (AS 2201.39) In connection with our review the issuer reevaluated its accounting for this revenue and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. The issuer also reevaluated its controls over revenue and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include this additional material weakness. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 2 AS 2201 39 The issuer recognized revenue from contracts with customers that included either standard or nonstandard terms. Certain contracts included an estimate of variable consideration in the transaction price. The following deficiencies were identified: · The firm did not identify and test any controls over the issuer's accounting for variable consideration included in contracts with standard terms. (AS 2201.39) In connection with our review the issuer reevaluated its accounting for this revenue and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. The issuer also reevaluated its controls over revenue and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include this additional material weakness. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 3 AS 2810 30 During the year the issuer received a one-time payment in connection with a contract modification that it recognized as revenue. The firm did not identify and evaluate that the issuer's accounting for this revenue was not in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30) In connection with our review the issuer reevaluated its accounting for this revenue and concluded that a material misstatement existed that had not been previously identified. The issuer subsequently corrected this misstatement in a restatement of its financial statements and the firm revised and reissued its report on the financial statements. The issuer also reevaluated its controls over revenue and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised and reissued its report on the effectiveness of the issuer's ICFR to include this additional material weakness. Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 1 AS 2201 42 The issuer used company-employed specialists to perform actuarial valuations of its insurance-related assets and liabilities including insurance reserves. With respect to the insurance-related liabilities recorded for certain insurance products the following deficiencies were identified: · The firm selected for testing certain IT-dependent manual controls over the data used to develop and record these insurance-related liabilities. The firm did not test the configuration or programming of certain queries that the issuer used to generate data used in the operation of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 1 AS 2201 44 The issuer used company-employed specialists to perform actuarial valuations of its insurance-related assets and liabilities including insurance reserves. With respect to the insurance-related liabilities recorded for certain insurance products the following deficiencies were identified: · The firm selected for testing certain IT-dependent manual controls over the data used to develop and record these insurance-related liabilities. The firm did not test the configuration or programming of certain queries that the issuer used to generate data used in the operation of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 2 AS 2201 39 The issuer used company-employed specialists to perform actuarial valuations of its insurance-related assets and liabilities including insurance reserves. With respect to the insurance-related liabilities recorded for certain insurance products the following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's (1) reviews of the actuarial valuation methodologies assumptions and models and (2) recalculations of the insurance reserves for these products and review of these recalculations. The firm did not identify and test any controls over the accuracy and completeness of certain data that the control owners used in the operation of these controls. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 3 AS 2201 42 The issuer used company-employed specialists to perform actuarial valuations of its insurance-related assets and liabilities including insurance reserves. With respect to the insurance-related liabilities recorded for certain insurance products the following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's (1) reviews of the actuarial valuation methodologies assumptions and models and (2) recalculations of the insurance reserves for these products and review of these recalculations. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain of these reserve recalculations. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 3 AS 2201 44 The issuer used company-employed specialists to perform actuarial valuations of its insurance-related assets and liabilities including insurance reserves. With respect to the insurance-related liabilities recorded for certain insurance products the following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's (1) reviews of the actuarial valuation methodologies assumptions and models and (2) recalculations of the insurance reserves for these products and review of these recalculations. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain of these reserve recalculations. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 4 AS 1105 A8a The issuer used company-employed specialists to perform actuarial valuations of its insurance-related assets and liabilities including insurance reserves. With respect to the insurance-related liabilities recorded for certain insurance products the following deficiencies were identified: · The firm did not test or sufficiently test controls over the accuracy and completeness of certain issuer-produced data that the company's specialists used to determine these actuarial valuations. (AS 1105.A8a) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 5 AS 2201 42 The issuer used company-employed specialists to perform actuarial valuations of its insurance-related assets and liabilities including insurance reserves. With respect to the insurance-related liabilities recorded for certain insurance products the following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's comparisons and reviews of the current-period insurance reserves and related trends to the prior-period amounts. In evaluating the design of these controls the firm did not evaluate whether the thresholds that the control owners used to identify items for investigation were sufficiently precise to detect material misstatements. (AS 2201.42) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 6 AS 2201 42 With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm selected for testing a control that included the issuer's reconciliations of loss experience data to its actuarial valuations which included the issuer's use of tools to transfer data and perform calculations. The firm did not sufficiently test the control attributes designed to address the accuracy of data transferred into these tools because the firm did not test whether these control attributes were designed to address and/or operated as designed for each relevant processing alternative. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 6 AS 2201 44 With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm selected for testing a control that included the issuer's reconciliations of loss experience data to its actuarial valuations which included the issuer's use of tools to transfer data and perform calculations. The firm did not sufficiently test the control attributes designed to address the accuracy of data transferred into these tools because the firm did not test whether these control attributes were designed to address and/or operated as designed for each relevant processing alternative. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 7 AS 2201 39 With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm selected for testing a control that included the issuer's reconciliations of loss experience data to its actuarial valuations which included the issuer's use of tools to transfer data and perform calculations. The firm did not identify and test any controls over the accuracy of the computations performed within these tools. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 8 AS 2201 39 With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the actuarial valuation methodologies and assumptions. The firm did not identify and test any controls over the accuracy and completeness of certain data that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 9 AS 1105 A8a With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm did not test or test any controls over the accuracy and/or completeness of certain issuer-produced data that the company's specialists used to determine these actuarial valuations. (AS 1105.A8a) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 10 AS 2201 42 With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's (1) recalculations of the insurance reserves for these products and review of these recalculations and (2) comparisons and reviews of the current-period insurance reserves and related trends to the prior-period amounts. The firm did not evaluate the specific review procedures that the control owners performed to investigate identified variances and determine whether items identified for follow up had been appropriately resolved. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 10 AS 2201 44 With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's (1) recalculations of the insurance reserves for these products and review of these recalculations and (2) comparisons and reviews of the current-period insurance reserves and related trends to the prior-period amounts. The firm did not evaluate the specific review procedures that the control owners performed to investigate identified variances and determine whether items identified for follow up had been appropriately resolved. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Assets and Liabilities, Including Insurance Reserves Fraud Risk 11 AS 2301 8 With respect to the insurance-related assets and liabilities recorded for certain other insurance products the following deficiencies were identified: · The firm did not perform substantive procedures to test whether the issuer had appropriately calculated the gross amounts of these insurance-related assets and liabilities that were presented in the issuer's financial statements. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 12 AS 2310 33 The issuer used a service organization to perform recordkeeping and processing of transactions for certain investment securities. The firm sent positive confirmation requests to the custodians for these investment securities but did not evaluate the nature of exceptions between the securities amounts included in the confirmation replies and the securities amounts that the issuer recorded. (AS 2310.33) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 42 The issuer performed its annual goodwill impairment assessment as of an interim date. The following deficiencies were identified: · The firm selected for testing controls that included the issuer's assessment of triggering events between its annual assessment date and year end. The firm did not evaluate whether the controls were designed to address whether certain adverse market conditions and deteriorating financial results that arose before year end would have required an impairment test as of year end. (AS 2201.42) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill Significant Risk 2 AS 2301 8 The issuer performed its annual goodwill impairment assessment as of an interim date. The following deficiencies were identified: · The firm did not sufficiently evaluate the issuer's determination that it did not need to test goodwill for impairment between its annual assessment and year end because it did not identify that the issuer's evaluation did not consider these adverse market conditions and deteriorating financial results that arose before year end. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 42 The firm's testing of certain automated controls over revenue at these business units was not sufficient because the firm did not test the configuration or programming of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 44 The firm's testing of certain automated controls over revenue at these business units was not sufficient because the firm did not test the configuration or programming of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2201 68 For the first business unit the firm identified control deficiencies related to the issuer's review of sales prices that were applied to certain customer orders and used to recognize revenue. The firm identified and tested various compensating controls that it believed would mitigate these deficiencies. The firm did not identify that these compensating controls did not address the risk of material misstatement related to the accuracy of these sales prices. (AS 2201.68) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2201 39 For the second business unit the firm selected for testing a control that consisted of the issuer's comparison of sales prices invoiced to the customer order. For electronically received customer orders the firm did not identify and test any controls over the accuracy of the data included in the customer orders that were used in the operation of the control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2201 42 For the second business unit the firm selected for testing a control that consisted of the issuer's comparison of sales prices invoiced to the customer order. For manually received customer orders the firm did not assess the effect of the same individual both entering and reviewing the sales prices in evaluating the design of the control. (AS 2201.42) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 7 AS 2201 39 The issuer performed cycle counts of inventory held at one of its locations. The issuer used a service organization to host and maintain an IT system that was used in its cycle-count procedures. The firm did not obtain an understanding of and test any relevant controls at this service organization. (AS 2201.39 and .B19) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 7 AS 2201 B19 The issuer performed cycle counts of inventory held at one of its locations. The issuer used a service organization to host and maintain an IT system that was used in its cycle-count procedures. The firm did not obtain an understanding of and test any relevant controls at this service organization. (AS 2201.39 and .B19) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 8 AS 2510 11 Due to the deficiency discussed above the firm did not obtain sufficient appropriate audit evidence that the cycle-count procedures that the issuer used for this inventory were sufficiently reliable to produce results substantially the same as those that would have been obtained by a count of all items each year. (AS 2510.11) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries 9 AS 2201 42 For one of the issuer's business units the firm selected for testing a control that consisted of the control owner's review of a selection of journal entries for appropriateness. When evaluating the design of this control the firm did not evaluate the number of items the control owner reviewed to assess whether it was sufficient to address the risks of material misstatement. (AS 2201.42) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2201 42 The issuer recorded revenue net of customer rebates and chargebacks. The issuer estimated its accrued rebates and chargebacks using significant assumptions that were based in part on forecasts of expected future sales rebates and chargebacks. The following deficiencies were identified: · The firm selected for testing various controls that included the issuer's reviews of the significant assumptions used to develop these accruals. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the underlying forecasts. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2201 44 The issuer recorded revenue net of customer rebates and chargebacks. The issuer estimated its accrued rebates and chargebacks using significant assumptions that were based in part on forecasts of expected future sales rebates and chargebacks. The following deficiencies were identified: · The firm selected for testing various controls that included the issuer's reviews of the significant assumptions used to develop these accruals. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the underlying forecasts. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 2 AS 2201 39 The issuer recorded revenue net of customer rebates and chargebacks. The issuer estimated its accrued rebates and chargebacks using significant assumptions that were based in part on forecasts of expected future sales rebates and chargebacks. The following deficiencies were identified: · The firm selected for testing various controls that included the issuer's reviews of the significant assumptions used to develop these accruals. The firm did not identify and test any controls over the accuracy and completeness of certain issuer-produced data and reports used in the operation of two of these controls. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 3 AS 2501 16 The issuer recorded revenue net of customer rebates and chargebacks. The issuer estimated its accrued rebates and chargebacks using significant assumptions that were based in part on forecasts of expected future sales rebates and chargebacks. The following deficiencies were identified: · The firm's approach for substantively testing accrued rebates and chargebacks was to test the issuer's process. The firm did not perform sufficient procedures to evaluate the reasonableness of the significant assumptions used to develop these accruals because the firm did not evaluate the reasonableness of the underlying forecasts. (AS 2501.16) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 4 AS 1105 10 The issuer recorded revenue net of customer rebates and chargebacks. The issuer estimated its accrued rebates and chargebacks using significant assumptions that were based in part on forecasts of expected future sales rebates and chargebacks. The following deficiencies were identified: · The firm used certain issuer-produced data and reports in its testing of accrued rebates and chargebacks but did not test or test any controls over the accuracy and completeness of these data and reports. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 5 AS 2201 42 The issuer used an IT system to initiate process and record transactions related to revenue and related accounts including accrued sales rebates and chargebacks. The firm selected for testing a control that included the issuer's reviews of changes made to this IT system through administrative user access. The firm did not evaluate the specific review procedures that the control owners performed to assess whether users performed appropriate actions when granted this access. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 5 AS 2201 44 The issuer used an IT system to initiate process and record transactions related to revenue and related accounts including accrued sales rebates and chargebacks. The firm selected for testing a control that included the issuer's reviews of changes made to this IT system through administrative user access. The firm did not evaluate the specific review procedures that the control owners performed to assess whether users performed appropriate actions when granted this access. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 6 AS 2201 46 In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. As a result of the above deficiency in the firm's testing of ITGCs the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2301 16 The sample size that the firm used in certain of its substantive procedures to test accrued rebates was too small to provide sufficient appropriate evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's ITGC testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2301 18 The sample size that the firm used in certain of its substantive procedures to test accrued rebates was too small to provide sufficient appropriate evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's ITGC testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2301 37 The sample size that the firm used in certain of its substantive procedures to test accrued rebates was too small to provide sufficient appropriate evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's ITGC testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2315 19 The sample size that the firm used in certain of its substantive procedures to test accrued rebates was too small to provide sufficient appropriate evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's ITGC testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2315 23 The sample size that the firm used in certain of its substantive procedures to test accrued rebates was too small to provide sufficient appropriate evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's ITGC testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 7 AS 2315 23A The sample size that the firm used in certain of its substantive procedures to test accrued rebates was too small to provide sufficient appropriate evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's ITGC testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 1 AS 2201 B21 The issuer developed the quantitative reserve component of the ACL using a model that was maintained by a service organization. The following deficiencies were identified: · The firm obtained a service auditor's report but did not evaluate whether this auditor's report provided sufficient appropriate audit evidence because the firm did not assess certain controls that the service auditor tested and how those controls related to the issuer's controls over the quantitative component of the ACL. (AS 2201.B21) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 2 AS 2201 39 The issuer developed the quantitative reserve component of the ACL using a model that was maintained by a service organization. The following deficiencies were identified: · The firm did not identify and test any controls over the issuer's ongoing assessment and monitoring of the predictability and effectiveness of this ACL model. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 3 AS 2201 46 The firm selected for testing a control that consisted of the control owner's reperformance of certain ACL calculations. The number of instances that the firm selected for testing this control did not provide sufficient appropriate audit evidence given the frequency with which this control operated. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 4 AS 2501 16 The issuer determined the qualitative reserve component of the ACL using various qualitative factors. The firm's approach for substantively testing the ACL was to test the issuer's process. The firm did not evaluate whether the issuer had a reasonable basis for the significant assumptions that the issuer used to develop certain of these qualitative factors. (AS 2501.16) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 5 AS 2201 42 During the year the issuer acquired a business. The issuer assigned certain acquired loans a risk rating which was a significant assumption in estimating the fair value of the acquired loans. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the credit quality of these acquired loans including the assigned loan risk ratings. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the assigned loan risk ratings. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 5 AS 2201 44 During the year the issuer acquired a business. The issuer assigned certain acquired loans a risk rating which was a significant assumption in estimating the fair value of the acquired loans. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the credit quality of these acquired loans including the assigned loan risk ratings. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the assigned loan risk ratings. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 6 AS 2501 16 During the year the issuer acquired a business. The issuer assigned certain acquired loans a risk rating which was a significant assumption in estimating the fair value of the acquired loans. The following deficiencies were identified: · The firm's approach for substantively testing the valuation of these acquired loans was to test the issuer's process. The firm selected a sample of acquired loans for testing. The firm did not evaluate whether the issuer had a reasonable basis for the assigned loan risk ratings for these acquired loans. (AS 2501.16) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 1 AS 2201 42 The issuer used an IT system to initiate process and record transactions related to certain revenue and accounts receivable. The firm selected for testing controls that included the issuer's reviews of changes made to this IT system through administrative user access. When testing the design and operating effectiveness of these controls the firm did not evaluate (1) certain criteria that the control owners used to determine which types of changes would be subject to the issuer's reviews and (2) whether the control owners' review of only certain types of system changes and permissions was sufficient to address the risk that unauthorized changes were made. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 42 The issuer used an IT system to initiate process and record transactions related to certain revenue and accounts receivable. The firm selected for testing controls that included the issuer's reviews of changes made to this IT system through administrative user access. When testing the design and operating effectiveness of these controls the firm did not evaluate (1) certain criteria that the control owners used to determine which types of changes would be subject to the issuer's reviews and (2) whether the control owners' review of only certain types of system changes and permissions was sufficient to address the risk that unauthorized changes were made. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 1 AS 2201 44 The issuer used an IT system to initiate process and record transactions related to certain revenue and accounts receivable. The firm selected for testing controls that included the issuer's reviews of changes made to this IT system through administrative user access. When testing the design and operating effectiveness of these controls the firm did not evaluate (1) certain criteria that the control owners used to determine which types of changes would be subject to the issuer's reviews and (2) whether the control owners' review of only certain types of system changes and permissions was sufficient to address the risk that unauthorized changes were made. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 44 The issuer used an IT system to initiate process and record transactions related to certain revenue and accounts receivable. The firm selected for testing controls that included the issuer's reviews of changes made to this IT system through administrative user access. When testing the design and operating effectiveness of these controls the firm did not evaluate (1) certain criteria that the control owners used to determine which types of changes would be subject to the issuer's reviews and (2) whether the control owners' review of only certain types of system changes and permissions was sufficient to address the risk that unauthorized changes were made. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2201 46 In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data or reports generated or maintained by this IT system. As a result of the above deficiency in the firm's testing of ITGCs the firm's testing of these automated and IT-dependent controls was not sufficient. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 46 In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data or reports generated or maintained by this IT system. As a result of the above deficiency in the firm's testing of ITGCs the firm's testing of these automated and IT-dependent controls was not sufficient. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 2301 16 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2301 16 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 2301 18 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2301 18 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 2301 37 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2301 37 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 2315 19 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2315 19 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 2315 23 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2315 23 The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 3 AS 2315 23A The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2315 23A The sample sizes that the firm used in certain of its substantive procedures to test this 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 due to (1) the deficiencies in the firm's control testing discussed above and/or (2) the firm not taking into account that the controls it relied upon were not designed and operating effectively during the entire period of reliance. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 4 AS 1105 10 The firm selected for testing a control at one of the issuer's locations that consisted of the issuer's review of source documentation prior to processing customer invoices and credit memos. The firm did not test or test any controls over the completeness of the population of items from which it selected its samples for testing this control. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 1105 10 The firm selected for testing a control at one of the issuer's locations that consisted of the issuer's review of source documentation prior to processing customer invoices and credit memos. The firm did not test or test any controls over the completeness of the population of items from which it selected its samples for testing this control. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 5 AS 2201 46 The firm selected for testing a control at one of the issuer's locations that consisted of the issuer's review of source documentation prior to processing customer invoices and credit memos. The number of credit memos that the firm selected for testing did not provide sufficient appropriate evidence given the frequency with which the control operated. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2201 46 The firm selected for testing a control at one of the issuer's locations that consisted of the issuer's review of source documentation prior to processing customer invoices and credit memos. The number of credit memos that the firm selected for testing did not provide sufficient appropriate evidence given the frequency with which the control operated. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 1 AS 2201 46 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. As a result of the following audit deficiencies the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. As a result of the following audit deficiencies the firm's testing of these IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 2 AS 2201 39 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. · The firm did not identify and test any controls that addressed the risk that certain users could make unauthorized changes to the data in this system. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 39 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. · The firm did not identify and test any controls that addressed the risk that certain users could make unauthorized changes to the data in this system. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 3 AS 2201 42 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. · The firm selected for testing (1) an automated control over the transfer of data from the issuer's source system into this IT system and (2) controls over the generation of the reports used in these IT-dependent manual controls. The firm did not test the configuration or programming of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 42 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. · The firm selected for testing (1) an automated control over the transfer of data from the issuer's source system into this IT system and (2) controls over the generation of the reports used in these IT-dependent manual controls. The firm did not test the configuration or programming of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 3 AS 2201 44 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. · The firm selected for testing (1) an automated control over the transfer of data from the issuer's source system into this IT system and (2) controls over the generation of the reports used in these IT-dependent manual controls. The firm did not test the configuration or programming of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 44 The issuer used an IT system to retain certain data related to MSRs and loan servicing revenue. In its testing of controls over these accounts the firm tested various IT-dependent manual controls that used reports generated by this IT system. · The firm selected for testing (1) an automated control over the transfer of data from the issuer's source system into this IT system and (2) controls over the generation of the reports used in these IT-dependent manual controls. The firm did not test the configuration or programming of these controls or perform other procedures to test these controls that would have provided sufficient appropriate audit evidence that these controls were designed and operating effectively. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 4 AS 2301 16 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 16 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 4 AS 2301 18 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 18 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 4 AS 2301 37 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 37 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 4 AS 2315 19 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 19 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 4 AS 2315 23 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 23 The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Mortgage Servicing Rights 4 AS 2315 23A The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 23A The sample sizes the firm used in certain of its substantive procedures to test MSRs and loan servicing revenue 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 due to the deficiencies in the firm's testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of forecasted sales that were used to estimate the valuation of certain inventory. The firm did not evaluate the specific review procedures that the control owners performed to assess the issuer's ability to achieve these forecasts. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of forecasted sales that were used to estimate the valuation of certain inventory. The firm did not evaluate the specific review procedures that the control owners performed to assess the issuer's ability to achieve these forecasts. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2201 42 The firm selected for testing a control that consisted of the issuer's reconciliation of the inventory subledger to its general ledger and its review of this reconciliation. The firm did not evaluate the specific review procedures that the control owners performed to assess the appropriateness of certain inventory adjustments that the firm selected for testing that were included in this reconciliation. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2201 44 The firm selected for testing a control that consisted of the issuer's reconciliation of the inventory subledger to its general ledger and its review of this reconciliation. The firm did not evaluate the specific review procedures that the control owners performed to assess the appropriateness of certain inventory adjustments that the firm selected for testing that were included in this reconciliation. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 3 AS 1105 10 The firm's substantive procedures to test these inventory adjustments consisted of selecting a sample of items for testing. The firm used issuer-produced quantity information in these substantive procedures but did not perform any procedures to test or sufficiently test controls over the accuracy and completeness of this information. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of potential indicators of impairment for its long-lived assets and certain investments. The firm did not evaluate whether the thresholds that the control owner used to identify certain impairment indicators were sufficiently precise to prevent or detect material misstatements. (AS 2201.42) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of potential indicators of impairment for its long-lived assets and certain investments. The firm did not evaluate whether the thresholds that the control owner used to identify certain impairment indicators were sufficiently precise to prevent or detect material misstatements. (AS 2201.42) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 2 AS 2201 39 The firm selected for testing a control that consisted of the issuer's review of potential indicators of impairment for its long-lived assets and certain investments. The firm did not identify and test any controls over the accuracy and/or completeness of certain data used in the operation of this control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 2 AS 2201 39 The firm selected for testing a control that consisted of the issuer's review of potential indicators of impairment for its long-lived assets and certain investments. The firm did not identify and test any controls over the accuracy and/or completeness of certain data used in the operation of this control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 3 AS 1105 10 The issuer performed a quantitative impairment assessment of certain long-lived assets and investments that had impairment indicators. The firm used certain issuer-produced data in its substantive testing of this impairment assessment but did not test or test any controls over the accuracy of these data. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 3 AS 1105 10 The issuer performed a quantitative impairment assessment of certain long-lived assets and investments that had impairment indicators. The firm used certain issuer-produced data in its substantive testing of this impairment assessment but did not test or test any controls over the accuracy of these data. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 4 AS 2301 8 For another of the issuer's long-lived assets the firm did not evaluate the appropriateness of the issuer's conclusion that an impairment assessment was not required even though an impairment indicator existed for this long-lived asset. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A J No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 4 AS 2301 8 For another of the issuer's long-lived assets the firm did not evaluate the appropriateness of the issuer's conclusion that an impairment assessment was not required even though an impairment indicator existed for this long-lived asset. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Inventory 1 AS 2201 42 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the first control the firm did not evaluate the specific review procedures that the control owners performed to determine whether items that met the criteria for investigation were identified for review. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 42 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the first control the firm did not evaluate the specific review procedures that the control owners performed to determine whether items that met the criteria for investigation were identified for review. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Inventory 1 AS 2201 44 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the first control the firm did not evaluate the specific review procedures that the control owners performed to determine whether items that met the criteria for investigation were identified for review. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 44 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the first control the firm did not evaluate the specific review procedures that the control owners performed to determine whether items that met the criteria for investigation were identified for review. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Inventory 2 AS 2201 39 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the second control the firm did not identify and test any controls over the accuracy and completeness of certain reports that the control owners used in the operation of the control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 2201 39 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the second control the firm did not identify and test any controls over the accuracy and completeness of certain reports that the control owners used in the operation of the control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Inventory 3 AS 2201 44 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the second control the firm did not test the aspects of this control that addressed the accuracy or completeness of certain other reports used in the operation of the control. (AS 2201.44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Revenue 3 AS 2201 44 The issuer recorded transactions related to revenue and inventory at numerous business units. To address the risks of material misstatement related to revenue and inventory for certain of these business units the firm selected entity-level controls for testing including two controls that consisted of the issuer's reviews of financial information. The following deficiencies were identified: · For the second control the firm did not test the aspects of this control that addressed the accuracy or completeness of certain other reports used in the operation of the control. (AS 2201.44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A L No ICFR audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 42 The firm's internal inspection program had inspected this audit reviewed the goodwill area and also identified the deficiency below. For four of the issuer's reporting units the firm selected for testing controls that consisted of the issuer's reviews of the forecasts and valuation model used in its goodwill impairment analysis including the assumptions used. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A L No ICFR audit only Audits with multiple deficiencies Goodwill Significant Risk 1 AS 2201 44 The firm's internal inspection program had inspected this audit reviewed the goodwill area and also identified the deficiency below. For four of the issuer's reporting units the firm selected for testing controls that consisted of the issuer's reviews of the forecasts and valuation model used in its goodwill impairment analysis including the assumptions used. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A L No ICFR audit only Audits with multiple deficiencies Leases 2 AS 2201 39 The firm selected for testing a control that consisted of the issuer's review of the accounting for certain lease transactions. The firm did not identify and test any controls over the accuracy and completeness of a report used in the operation of this control. (AS 2201.39) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A M No Financial statement audit only Audits with multiple deficiencies Long-lived Assets 1 AS 1105 10 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The firm used issuer-prepared schedules in its substantive testing of the issuer's (1) assessment of certain long-lived assets for possible impairment and (2) long-lived asset disclosures. The firm did not perform any procedures to test or test any controls over the accuracy of certain data included in these issuer-prepared schedules. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A M No Financial statement audit only Audits with multiple deficiencies Leases 2 AS 1105 10 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The firm performed substantive procedures to test the accuracy of a schedule that the issuer used to prepare certain of its lease disclosures. The sample size the firm used in these substantive procedures was smaller than the one the firm determined necessary to provide sufficient appropriate audit evidence. Further the firm did not perform any procedures to test or test any controls over the completeness of this schedule. (AS 1105.10) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A N No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of its asset groupings used in the evaluation of long-lived assets for possible impairment. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of the specific assets that were included in the asset groupings. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A N No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of its asset groupings used in the evaluation of long-lived assets for possible impairment. The firm did not evaluate the specific review procedures that the control owner performed to assess the appropriateness of the specific assets that were included in the asset groupings. (AS 2201.42 and .44) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A N No Both financial statement and ICFR audits Audits with multiple deficiencies Long-lived Assets 2 AS 2301 8 During the year the issuer identified that events or changes in circumstances existed indicating that the carrying value of certain long-lived assets may not be recoverable. The firm did not evaluate whether these events or changes in circumstances indicated that the carrying amounts of certain other long-lived assets may not be recoverable. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A O No Financial statement audit only Audits with a single deficiency Revenue 1 AS 2301 8 Certain of the issuer's contracts provided for the reimbursement of costs for services performed on behalf of its customers and the issuer did not recognize revenue from these services. The firm did not perform procedures to evaluate whether these services were part of the issuer's performance obligation under its customer contracts that should have been recognized as revenue in conformity with FASB ASC Topic 606. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A P No ICFR audit only Audits with a single deficiency Journal Entries 1 AS 2201 42 The firm selected for testing a control that consisted of the control owner's review of certain journal entries. The firm did not evaluate whether the design of this control was sufficient to address whether journal entries prepared and posted by the same individual were authorized and appropriate. (AS 2201.42) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A Q No Financial statement audit only Audits with a single deficiency Investment Securities 1 AS 2301 8 The issuer used a service organization for recordkeeping and processing of transactions related to investment securities. The firm did not perform any procedures that addressed the accuracy of certain data from the service organization that was used to determine the classification of investment purchases and sales in the statement of cash flows. (AS 2301.08) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A R No Financial statement audit only Audits with a single deficiency Revenue 1 AS 2305 13 The firm performed a substantive analytical procedure to test certain revenue deductions. The firm did not determine whether the expectation used in this substantive analytical procedure was based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 42 Ernst & Young LLP 2024 United States Ernst & Young Global Limited 2025-02-26T00:00:00 Part I.A R No Financial statement audit only Audits with a single deficiency Revenue 1 AS 2305 14 The firm performed a substantive analytical procedure to test certain revenue deductions. The firm did not determine whether the expectation used in this substantive analytical procedure was based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 1 AS 2201 39 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer engaged a specialist to assist it in determining the fair value of the loans acquired and the deposits assumed in connection with the business combination. The firm selected for testing various controls over the acquired loans and assumed deposits data that were provided to and used by the company's specialist. The firm did not identify and test any controls over the accuracy and completeness of certain of the data from the legacy systems that were used in the operation of these controls. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 2 AS 1105 10 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The firm used certain loan data from the legacy systems in its testing of the ACL but did not perform any procedures to test or test any controls over the accuracy and completeness of these data. (AS 1105.10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 3 AS 2201 42 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The firm selected for testing a control that consisted of the issuer's review for a sample of loans of the loan risk ratings assigned to certain types of loans. The firm did not evaluate the criteria the control owners used to select loans for review. (AS 2201.42) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 4 AS 2201 42 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's review of the ACL including an assessment of this qualitative factor for reasonableness. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of this qualitative factor. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 4 AS 2201 44 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's review of the ACL including an assessment of this qualitative factor for reasonableness. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of this qualitative factor. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 5 AS 2201 39 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm selected for testing controls that consisted of the issuer's review of the ACL including an assessment of this qualitative factor for reasonableness. The firm did not identify and test any controls over the accuracy and/or completeness of the appraisal and external data used to develop this factor. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A1 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A10 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A2 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A3 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A4 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A5 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A6 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A7 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A8 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1105 A9 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1201 C6 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 1201 C7 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 6 AS 2501 16 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative component of the ACL was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and certain significant assumptions used by the issuer. The firm did not sufficiently evaluate the reasonableness of these significant assumptions because it did not identify that the auditor-employed specialist's procedures were limited to inquiring of management and reading an issuer-prepared memorandum. Further the firm used a sample of appraisal reports prepared by the company's specialists in its testing of these significant assumptions without performing any procedures with respect to its use of the work of the company's specialists as audit evidence. (AS 1105.A1 - .A10 AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 7 AS 1105 10 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer determined the qualitative reserve component of the ACL using qualitative factors and developed one of these factors using various data including appraisal data prepared by the company's specialists and certain external data. The following deficiencies were identified: · The firm used the appraisal and external data in its substantive testing of the qualitative component of the ACL but did not perform any procedures to test or test any controls over the accuracy and/or completeness of these data. (AS 1105.10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 8 AS 2201 42 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer used a manually prepared spreadsheet to compare the fair values recorded for its available-for-sale and held-to-maturity securities to prices obtained from various sources. The firm selected for testing controls over the review of this spreadsheet but when evaluating the design of these controls did not identify that the control owner did not perform any procedures that addressed whether the pricing information that was included in the spreadsheet was accurate and complete. (AS 2201.42) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 9 AS 2201 39 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer disclosed the size categories and maturity date of certain of its deposit liabilities. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of these disclosures but did not identify and test any controls over the accuracy and completeness of the information from the issuer's legacy systems that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Deposit Liabilities 10 AS 1105 10 During the year the issuer completed a business combination where the issuer's operations from before the transaction remained on the issuer's existing information systems (“legacy systems”) and continued to be recorded in these systems separately from the other company's operations. The issuer disclosed the size categories and maturity date of certain of its deposit liabilities. The following deficiencies were identified: · The firm used this information in its substantive testing of these disclosures but did not perform any procedures to test or test controls over the accuracy and completeness of this information. (AS 1105.10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2101 11 The issuer reported loans receivable at two business units. The firm excluded from the scope of its audits the ACL related to one of these business units but did not evaluate whether the risks of material misstatement that the firm associated with the ACL subject to audit procedures also applied to the excluded ACL. (AS 2101.11 and .12; AS 2201.B10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2101 12 The issuer reported loans receivable at two business units. The firm excluded from the scope of its audits the ACL related to one of these business units but did not evaluate whether the risks of material misstatement that the firm associated with the ACL subject to audit procedures also applied to the excluded ACL. (AS 2101.11 and .12; AS 2201.B10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 B10 The issuer reported loans receivable at two business units. The firm excluded from the scope of its audits the ACL related to one of these business units but did not evaluate whether the risks of material misstatement that the firm associated with the ACL subject to audit procedures also applied to the excluded ACL. (AS 2101.11 and .12; AS 2201.B10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 39 With respect to the ACL subject to audit procedures: · The firm identified and tested controls that consisted of the issuer's review of the quantitative component of the ACL but did not identify and test any controls over certain inputs the control owners used in the operation of those controls. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2201 39 With respect to the ACL subject to audit procedures: · The firm did not identify and test any controls over the qualitative component of the ACL. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 4 AS 2501 16 With respect to the ACL subject to audit procedures: · The firm's approach for substantively testing the ACL was to test the issuer's process. The firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions the issuer used to develop the quantitative component and any significant assumptions the issuer used to develop the qualitative component. (AS 2501.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 5 AS 2810 30 During the year the issuer sold certain loans receivable to external parties. The firm did not identify and evaluate that the issuer's accounting for and presentation and disclosure of the gain on the sale of these loans was not in conformity with FASB ASC Topic 310 Receivables and FASB ASC Subtopic 860-20 Transfers and Servicing – Sales of Financial Assets. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its accounting and presentation of this sale of loans receivable and determined that an error existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer adjusted this accounting and presentation in a subsequent filing. Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 5 AS 2810 31 During the year the issuer sold certain loans receivable to external parties. The firm did not identify and evaluate that the issuer's accounting for and presentation and disclosure of the gain on the sale of these loans was not in conformity with FASB ASC Topic 310 Receivables and FASB ASC Subtopic 860-20 Transfers and Servicing – Sales of Financial Assets. (AS 2810.30 and .31) In connection with our review the issuer reevaluated its accounting and presentation of this sale of loans receivable and determined that an error existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer adjusted this accounting and presentation in a subsequent filing. Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 6 AS 2201 42 The issuer recorded certain investment securities at fair value based on cash-flow models and classified these securities as held-to-maturity (HTM). The following deficiencies were identified: · The firm selected for testing controls over the valuation of these securities including the issuer's review of its cash-flow models. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the values determined by these models. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 6 AS 2201 44 The issuer recorded certain investment securities at fair value based on cash-flow models and classified these securities as held-to-maturity (HTM). The following deficiencies were identified: · The firm selected for testing controls over the valuation of these securities including the issuer's review of its cash-flow models. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the values determined by these models. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 7 AS 2501 7 The issuer recorded certain investment securities at fair value based on cash-flow models and classified these securities as held-to-maturity (HTM). The following deficiencies were identified: · The firm did not perform any substantive procedures to test the valuation of these securities. (AS 2501.07) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 8 AS 2201 39 The issuer recorded certain investment securities at fair value based on cash-flow models and classified these securities as held-to-maturity (HTM). The following deficiencies were identified: · The firm did not identify and test any controls that addressed whether the issuer's classification of these securities as HTM was appropriate. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 9 AS 2301 8 The issuer recorded certain investment securities at fair value based on cash-flow models and classified these securities as held-to-maturity (HTM). The following deficiencies were identified: · The firm did not perform any substantive procedures to evaluate whether the issuer's classification of these securities as HTM was appropriate. (AS 2301.08) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls (ITGCs) the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 2 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · The firm did not evaluate the specific review procedures the control owner performed to determine whether user access to the production environment that had been previously granted continued to be appropriate. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · The firm did not evaluate the specific review procedures the control owner performed to determine whether user access to the production environment that had been previously granted continued to be appropriate. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 2 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · The firm did not evaluate the specific review procedures the control owner performed to determine whether user access to the production environment that had been previously granted continued to be appropriate. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · The firm did not evaluate the specific review procedures the control owner performed to determine whether user access to the production environment that had been previously granted continued to be appropriate. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 3 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · The firm did not identify and test any controls over the accuracy and completeness of certain information that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · The firm did not identify and test any controls over the accuracy and completeness of certain information that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 4 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · To test certain other change management controls the firm selected changes from the issuer's change management tool but did not test or test any controls over the completeness of the population of changes from which it selected its samples for testing. (AS 1105.10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 1105 10 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to change management: The issuer had various change management processes for these IT systems including the use of a tool to manage and migrate changes into the production environment. The firm selected for testing controls over change management for certain systems including a control that consisted of the issuer's periodic review of access to the production environment. The following deficiencies were identified: · To test certain other change management controls the firm selected changes from the issuer's change management tool but did not test or test any controls over the completeness of the population of changes from which it selected its samples for testing. (AS 1105.10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 5 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a control over user access for certain systems. The firm did not evaluate the specific review procedures the control owner performed to determine whether access was appropriately granted for the instances selected for testing. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a control over user access for certain systems. The firm did not evaluate the specific review procedures the control owner performed to determine whether access was appropriately granted for the instances selected for testing. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 5 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a control over user access for certain systems. The firm did not evaluate the specific review procedures the control owner performed to determine whether access was appropriately granted for the instances selected for testing. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a control over user access for certain systems. The firm did not evaluate the specific review procedures the control owner performed to determine whether access was appropriately granted for the instances selected for testing. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 6 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a control over user access for certain systems. The firm did not identify and test any controls over the accuracy and completeness of certain information that the control owner used in the operation of this control. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2201 39 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to revenue and deferred revenue. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. With respect to user access: · The firm selected for testing a control over user access for certain systems. The firm did not identify and test any controls over the accuracy and completeness of certain information that the control owner used in the operation of this control. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 7 AS 1105 10 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures to test certain revenue and deferred revenue because it did not test or sufficiently test controls over the accuracy and completeness of certain system-generated data or reports the firm used in its substantive testing including substantive analytical procedures. (AS 1105.10; AS 2305.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 7 AS 1105 10 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures to test certain revenue and deferred revenue because it did not test or sufficiently test controls over the accuracy and completeness of certain system-generated data or reports the firm used in its substantive testing including substantive analytical procedures. (AS 1105.10; AS 2305.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Deferred Revenue 7 AS 2305 16 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures to test certain revenue and deferred revenue because it did not test or sufficiently test controls over the accuracy and completeness of certain system-generated data or reports the firm used in its substantive testing including substantive analytical procedures. (AS 1105.10; AS 2305.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 7 AS 2305 16 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures to test certain revenue and deferred revenue because it did not test or sufficiently test controls over the accuracy and completeness of certain system-generated data or reports the firm used in its substantive testing including substantive analytical procedures. (AS 1105.10; AS 2305.16) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 39 At two of the issuer's business units the issuer recognized certain revenue over time based on information that was provided by an external party. The following deficiencies were identified: · The firm did not identify and test any controls over the reliability of the information provided by the external party. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2301 16 At two of the issuer's business units the issuer recognized certain revenue over time based on information that was provided by an external party. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test this revenue 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2301 18 At two of the issuer's business units the issuer recognized certain revenue over time based on information that was provided by an external party. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test this revenue 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2301 37 At two of the issuer's business units the issuer recognized certain revenue over time based on information that was provided by an external party. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test this revenue 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2315 19 At two of the issuer's business units the issuer recognized certain revenue over time based on information that was provided by an external party. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test this revenue 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2315 23 At two of the issuer's business units the issuer recognized certain revenue over time based on information that was provided by an external party. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test this revenue 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2315 23A At two of the issuer's business units the issuer recognized certain revenue over time based on information that was provided by an external party. The following deficiencies were identified: · The sample sizes the firm used in its substantive procedures to test this revenue 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 due to the deficiency in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 39 At certain other business units the following deficiencies were identified: · The firm did not identify and test any controls that addressed whether the performance obligations had been satisfied before revenue was recognized. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 8 At certain other business units the following deficiencies were identified: · The firm did not perform substantive procedures beyond observing the issuer's processing of one revenue transaction to evaluate whether the performance obligations had been satisfied before revenue was recognized. (AS 2301.08) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 1 AS 2201 39 During the year the issuer acquired a business. The acquired assets primarily consisted of oil and gas properties that had oil and gas reserves assigned. The issuer used company-employed specialists to determine the fair value of the acquired oil and gas properties based on discounted cash flows that they developed using various assumptions including future production volumes. The company's specialists used historical production data produced by the acquired business and certain other non-financial assumptions developed by the company's specialists to develop the future production volumes. The following deficiencies were identified: · The firm did not identify and test any controls over the reliability of the historical production data used by the company's specialists. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 2 AS 2201 42 During the year the issuer acquired a business. The acquired assets primarily consisted of oil and gas properties that had oil and gas reserves assigned. The issuer used company-employed specialists to determine the fair value of the acquired oil and gas properties based on discounted cash flows that they developed using various assumptions including future production volumes. The company's specialists used historical production data produced by the acquired business and certain other non-financial assumptions developed by the company's specialists to develop the future production volumes. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of the future production volumes assumption but did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain significant non-financial assumptions that were developed and used by the company's specialists. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 2 AS 2201 44 During the year the issuer acquired a business. The acquired assets primarily consisted of oil and gas properties that had oil and gas reserves assigned. The issuer used company-employed specialists to determine the fair value of the acquired oil and gas properties based on discounted cash flows that they developed using various assumptions including future production volumes. The company's specialists used historical production data produced by the acquired business and certain other non-financial assumptions developed by the company's specialists to develop the future production volumes. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of the future production volumes assumption but did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain significant non-financial assumptions that were developed and used by the company's specialists. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 3 AS 1105 A8a During the year the issuer acquired a business. The acquired assets primarily consisted of oil and gas properties that had oil and gas reserves assigned. The issuer used company-employed specialists to determine the fair value of the acquired oil and gas properties based on discounted cash flows that they developed using various assumptions including future production volumes. The company's specialists used historical production data produced by the acquired business and certain other non-financial assumptions developed by the company's specialists to develop the future production volumes. The following deficiencies were identified: · The firm did not evaluate the reliability of the historical production data used by the company's specialists. (AS 1105.A8a) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination 4 AS 1105 A8b During the year the issuer acquired a business. The acquired assets primarily consisted of oil and gas properties that had oil and gas reserves assigned. The issuer used company-employed specialists to determine the fair value of the acquired oil and gas properties based on discounted cash flows that they developed using various assumptions including future production volumes. The company's specialists used historical production data produced by the acquired business and certain other non-financial assumptions developed by the company's specialists to develop the future production volumes. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of certain significant non-financial assumptions that were developed and used by the company's specialists beyond comparing the assumptions for the first year of the discounted cash flows for a selection of acquired properties to the historical production data of the acquired business and the issuer's other properties. (AS 1105.A8b) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 42 The issuer's policy was to group its property plant and equipment as a single asset group when evaluating its long-lived assets for possible impairment because the cash flows were interdependent. The following deficiencies were identified: · The firm selected for testing a control over the impairment of property plant and equipment which included the determination of its asset grouping. The firm did not evaluate the specific review procedures that the control owner performed to assess whether the issuer's use of a single asset group was in conformity with FASB ASC Topic 360 Property Plant and Equipment. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 44 The issuer's policy was to group its property plant and equipment as a single asset group when evaluating its long-lived assets for possible impairment because the cash flows were interdependent. The following deficiencies were identified: · The firm selected for testing a control over the impairment of property plant and equipment which included the determination of its asset grouping. The firm did not evaluate the specific review procedures that the control owner performed to assess whether the issuer's use of a single asset group was in conformity with FASB ASC Topic 360 Property Plant and Equipment. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 2 AS 2301 8 The issuer's policy was to group its property plant and equipment as a single asset group when evaluating its long-lived assets for possible impairment because the cash flows were interdependent. The following deficiencies were identified: · The firm did not perform substantive procedures beyond reading an issuer-prepared memorandum to evaluate whether the issuer's use of a single asset group was in conformity with FASB ASC Topic 360. (AS 2301.08) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 1 AS 2201 39 The issuer held investments in multiple unconsolidated entities including certain entities that were managed by the issuer. The following deficiencies were identified: · The firm selected for testing a control over the issuer's disclosure of these investments. The firm did not identify and test any controls over the accuracy and completeness of an issuer-prepared schedule that the control owner used in the operation of this control. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 2 AS 2201 39 The issuer held investments in multiple unconsolidated entities including certain entities that were managed by the issuer. The following deficiencies were identified: · The firm selected for testing a control over the valuation of the investments in unconsolidated entities managed by the issuer. The firm did not identify and test any controls over the accuracy and completeness of the unconsolidated entities' financial statements that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 3 AS 1105 10 The issuer held investments in multiple unconsolidated entities including certain entities that were managed by the issuer. The following deficiencies were identified: · The firm used the unconsolidated entities' financial statements and the issuer-prepared schedule in its substantive testing of these investments but did not perform any procedures to test or test any controls over the accuracy and completeness of this information. (AS 1105.10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A H No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 42 The issuer recognized certain revenue over time from contracts for which it had an enforceable right to payment for inventory that did not have an alternative use to the issuer. The issuer's IT system for this revenue was configured to recognize revenue upon shipment and the issuer recorded manual adjustments to recognize revenue at period end based on the progress it made to manufacture goods in inventory that had not been shipped. The firm selected for testing 1) an automated control that included the designation of sales orders in the system as “on hold” until the issuer completed a review of each sales order prior to shipment and 2) the control related to the issuer's review of each sales order with the “on hold” designation in the system to ensure it was associated with a valid contract. The following deficiencies were identified: · For the automated control the firm did not test the aspect that addressed whether all types of sales orders received this “on hold” designation. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A H No ICFR audit only Audits with multiple deficiencies Revenue 1 AS 2201 44 The issuer recognized certain revenue over time from contracts for which it had an enforceable right to payment for inventory that did not have an alternative use to the issuer. The issuer's IT system for this revenue was configured to recognize revenue upon shipment and the issuer recorded manual adjustments to recognize revenue at period end based on the progress it made to manufacture goods in inventory that had not been shipped. The firm selected for testing 1) an automated control that included the designation of sales orders in the system as “on hold” until the issuer completed a review of each sales order prior to shipment and 2) the control related to the issuer's review of each sales order with the “on hold” designation in the system to ensure it was associated with a valid contract. The following deficiencies were identified: · For the automated control the firm did not test the aspect that addressed whether all types of sales orders received this “on hold” designation. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A H No ICFR audit only Audits with multiple deficiencies Revenue 2 AS 1105 10 The issuer recognized certain revenue over time from contracts for which it had an enforceable right to payment for inventory that did not have an alternative use to the issuer. The issuer's IT system for this revenue was configured to recognize revenue upon shipment and the issuer recorded manual adjustments to recognize revenue at period end based on the progress it made to manufacture goods in inventory that had not been shipped. The firm selected for testing 1) an automated control that included the designation of sales orders in the system as “on hold” until the issuer completed a review of each sales order prior to shipment and 2) the control related to the issuer's review of each sales order with the “on hold” designation in the system to ensure it was associated with a valid contract. The following deficiencies were identified: · For the sales order review control the firm did not perform sufficient procedures to test the completeness of the population of items from which it selected its samples because it did not perform any procedures over the completeness of the population of sales orders associated with goods in inventory that the issuer had begun to manufacture. (AS 1105.10) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A H No ICFR audit only Audits with multiple deficiencies Revenue 3 AS 2201 62 The issuer recognized certain revenue over time from contracts for which it had an enforceable right to payment for inventory that did not have an alternative use to the issuer. The issuer's IT system for this revenue was configured to recognize revenue upon shipment and the issuer recorded manual adjustments to recognize revenue at period end based on the progress it made to manufacture goods in inventory that had not been shipped. The firm selected for testing 1) an automated control that included the designation of sales orders in the system as “on hold” until the issuer completed a review of each sales order prior to shipment and 2) the control related to the issuer's review of each sales order with the “on hold” designation in the system to ensure it was associated with a valid contract. The following deficiencies were identified: · The firm identified a control deficiency related to the lack of a requirement for the sales order review control to be performed before the issuer began to manufacture the inventory. In determining whether the deficiency represented a material weakness the firm did not sufficiently evaluate the severity of this deficiency because (1) its procedures to evaluate the magnitude of the potential misstatement were limited to determining the total inventory amount that would represent a material misstatement and (2) the firm did not perform procedures to evaluate whether there was a reasonable possibility that the issuer's controls would fail to prevent or detect a misstatement beyond concluding that the possibility of that type of misstatement would be remote without performing procedures to support that conclusion. (AS 2201.62) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Goodwill 1 AS 2201 42 The issuer engaged a specialist to assist it in determining the fair value of its reporting units. The firm selected for testing controls that consisted of the issuer's determination of an expected range of reasonable outcomes for certain assumptions and comparison of those expected ranges to the assumptions determined by the company specialist. The firm did not evaluate beyond inquiry the procedures the control owner performed to determine the expected ranges. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Goodwill 1 AS 2201 44 The issuer engaged a specialist to assist it in determining the fair value of its reporting units. The firm selected for testing controls that consisted of the issuer's determination of an expected range of reasonable outcomes for certain assumptions and comparison of those expected ranges to the assumptions determined by the company specialist. The firm did not evaluate beyond inquiry the procedures the control owner performed to determine the expected ranges. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Statement of Cash Flows 2 AS 2201 42 The firm selected for testing the issuer's control over the configuration of a system-generated report used in the preparation of its statement of cash flows. The firm did not evaluate the specific review procedures that the control owners performed to assess the configuration of this report. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A I No ICFR audit only Audits with multiple deficiencies Statement of Cash Flows 2 AS 2201 44 The firm selected for testing the issuer's control over the configuration of a system-generated report used in the preparation of its statement of cash flows. The firm did not evaluate the specific review procedures that the control owners performed to assess the configuration of this report. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A J No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 1 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm selected for testing controls that consisted of the issuer's review of the ACL including a committee's reviews of certain assumptions used to estimate the qualitative component. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A J No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 1 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed this area but did not identify the deficiencies below. The firm selected for testing controls that consisted of the issuer's review of the ACL including a committee's reviews of certain assumptions used to estimate the qualitative component. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 42 The firm selected for testing controls that consisted of the issuer's validation of the models it used to estimate the quantitative component of the ACL for loans and leases collectively evaluated for impairment. The issuer's validation included a comparison of the modeled results to the actual results that identified two types of errors and by design assessed one of these types of errors. In evaluating the design of these controls the firm did not evaluate the effect of the issuer not assessing one type of error on the controls' ability to effectively prevent or detect a material misstatement. (AS 2201.42) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A L No ICFR audit only Audits with a single deficiency Revenue 1 AS 2201 39 The issuer recognized certain revenue based in part on transaction data provided by an external service provider. The firm did not identify and test any controls that addressed the reliability of the majority of these data. (AS 2201.39) Annually Inspected 185 KPMG LLP 2024 United States KPMG International Cooperative 2025-02-26T00:00:00 Part I.A M No Financial statement audit only Audits with a single deficiency Income Taxes 1 AS 2301 8 The firm did not perform any procedures to determine whether the issuer's presentation of a certain tax receivable as a current asset was appropriate. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 1 AS 2301 8 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The estimated standalone selling prices were based on an expected cost plus a margin approach that involved significant assumptions. The following deficiencies were identified: · The firm did not perform procedures beyond reading an issuer-prepared analysis to assess whether the services promised in the issuer's contracts were distinct and should have been accounted for as separate performance obligations. (AS 2301.08 and .13) In connection with our review the issuer reevaluated its accounting for these arrangements and concluded that misstatements existed that had not been previously identified. The issuer subsequently filed a Form 8-K disclosing that its previously issued financial statements should no longer be relied upon and that it plans on restating its financial statements to correct these misstatements. Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 1 AS 2301 13 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The estimated standalone selling prices were based on an expected cost plus a margin approach that involved significant assumptions. The following deficiencies were identified: · The firm did not perform procedures beyond reading an issuer-prepared analysis to assess whether the services promised in the issuer's contracts were distinct and should have been accounted for as separate performance obligations. (AS 2301.08 and .13) In connection with our review the issuer reevaluated its accounting for these arrangements and concluded that misstatements existed that had not been previously identified. The issuer subsequently filed a Form 8-K disclosing that its previously issued financial statements should no longer be relied upon and that it plans on restating its financial statements to correct these misstatements. Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 2 AS 2501 10 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The estimated standalone selling prices were based on an expected cost plus a margin approach that involved significant assumptions. The following deficiencies were identified: · For certain contracts the issuer recognized revenue over time using an output method to measure its progress toward completion of its performance obligations. The firm did not evaluate whether this method was in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2501.10) In connection with our review the issuer reevaluated its accounting for these arrangements and concluded that misstatements existed that had not been previously identified. The issuer subsequently filed a Form 8-K disclosing that its previously issued financial statements should no longer be relied upon and that it plans on restating its financial statements to correct these misstatements. Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A A No Financial statement audit only Audits with an incorrect opinion on the financial statements and/or ICFR Revenue Fraud Risk 3 AS 2501 16 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The estimated standalone selling prices were based on an expected cost plus a margin approach that involved significant assumptions. The following deficiencies were identified: · The firm did not perform any substantive procedures to evaluate the reasonableness of the expected costs of satisfying the performance obligations and related margins. (AS 2501.16) In connection with our review the issuer reevaluated its accounting for these arrangements and concluded that misstatements existed that had not been previously identified. The issuer subsequently filed a Form 8-K disclosing that its previously issued financial statements should no longer be relied upon and that it plans on restating its financial statements to correct these misstatements. Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 1105 4 The issuer recognized certain revenue based on the issuer's estimate of the number of customers enrolled in plans under which the issuer provided services. The firm did not sufficiently evaluate whether the issuer had a reasonable basis for this significant assumption because it did not evaluate the relevance of certain historical customer data that the issuer adjusted and used to develop this significant assumption. (AS 1105.04 and .06; AS 2501.16) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 1105 6 The issuer recognized certain revenue based on the issuer's estimate of the number of customers enrolled in plans under which the issuer provided services. The firm did not sufficiently evaluate whether the issuer had a reasonable basis for this significant assumption because it did not evaluate the relevance of certain historical customer data that the issuer adjusted and used to develop this significant assumption. (AS 1105.04 and .06; AS 2501.16) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2501 16 The issuer recognized certain revenue based on the issuer's estimate of the number of customers enrolled in plans under which the issuer provided services. The firm did not sufficiently evaluate whether the issuer had a reasonable basis for this significant assumption because it did not evaluate the relevance of certain historical customer data that the issuer adjusted and used to develop this significant assumption. (AS 1105.04 and .06; AS 2501.16) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue 2 AS 2301 8 The firm did not perform any substantive procedures to evaluate whether certain payments that the issuer recognized as revenue met the criteria for revenue recognition set forth in FASB ASC Topic 606. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 3 AS 2301 8 The firm did not perform any substantive procedures to test certain accounts receivable. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 4 AS 2810 30 The firm did not identify and evaluate various misstatements in the issuer's disclosures related to accounts receivable and other liabilities. (AS 2810.30 and .31) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Other Liabilities 4 AS 2810 30 The firm did not identify and evaluate various misstatements in the issuer's disclosures related to accounts receivable and other liabilities. (AS 2810.30 and .31) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 4 AS 2810 31 The firm did not identify and evaluate various misstatements in the issuer's disclosures related to accounts receivable and other liabilities. (AS 2810.30 and .31) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Other Liabilities 4 AS 2810 31 The firm did not identify and evaluate various misstatements in the issuer's disclosures related to accounts receivable and other liabilities. (AS 2810.30 and .31) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 5 AS 2301 8 The issuer disclosed that it presented its accounts receivable net of certain unpaid costs. The firm did not perform any substantive procedures to evaluate whether this presentation was in conformity with FASB ASC Topic 210 Balance Sheet. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Other Liabilities 5 AS 2301 8 The issuer disclosed that it presented its accounts receivable net of certain unpaid costs. The firm did not perform any substantive procedures to evaluate whether this presentation was in conformity with FASB ASC Topic 210 Balance Sheet. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 1 AS 2201 39 The firm did not identify and test any controls over the issuer's allowance for credit impairment for certain investment securities. (AS 2201.39) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 2 AS 2501 7 The firm did not perform any substantive procedures to test the allowance for credit impairment for these investment securities. (AS 2501.07) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 3 AS 2201 39 The firm did not identify and test any controls over the issuer's ACL for certain loans. (AS 2201.39) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses 4 AS 2501 7 The firm did not perform any substantive procedures to test the ACL for these loans. (AS 2501.07) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Loans 5 AS 2201 39 The issuer disclosed the estimated fair values for certain loans measured at amortized cost. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of this disclosure but did not identify and test any controls over the accuracy and completeness of the issuer-prepared schedules used in the operation of this control. (AS 2201.39) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Loans 6 AS 2501 7 The issuer disclosed the estimated fair values for certain loans measured at amortized cost. The following deficiencies were identified: · The firm did not perform substantive procedures to test the fair values of these loans beyond comparing the amounts disclosed to the issuer-prepared schedules discussed above. (AS 2501.07) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 42 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of certain contracts under these types of arrangements for appropriate revenue recognition. The firm did not evaluate the specific review procedures that the control owners performed to evaluate whether the contracts contained embedded leases and whether all performance obligations were identified. (AS 2201.42 and .44) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 44 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of certain contracts under these types of arrangements for appropriate revenue recognition. The firm did not evaluate the specific review procedures that the control owners performed to evaluate whether the contracts contained embedded leases and whether all performance obligations were identified. (AS 2201.42 and .44) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2301 8 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm did not sufficiently evaluate whether certain contracts contained embedded leases because it did not evaluate certain terms that may have met the definition of a lease. (AS 2301.08; AS 2810.03) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2810 3 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm did not sufficiently evaluate whether certain contracts contained embedded leases because it did not evaluate certain terms that may have met the definition of a lease. (AS 2301.08; AS 2810.03) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2301 8 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm did not sufficiently evaluate whether all performance obligations were identified for certain contracts because it did not identify that the contracts contained an option that may have represented a material right. (AS 2301.08; AS 2810.03) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2810 3 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm did not sufficiently evaluate whether all performance obligations were identified for certain contracts because it did not identify that the contracts contained an option that may have represented a material right. (AS 2301.08; AS 2810.03) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2201 39 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm did not identify and test any controls over the issuer's determination of the standalone selling prices. (AS 2201.39) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2501 16 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm did not perform any substantive procedures to evaluate the reasonableness of the significant assumptions the issuer used to estimate standalone selling prices. (AS 2501.16) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Other Assets 6 AS 2301 8 The firm did not perform substantive procedures to evaluate whether the issuer's capitalization of certain contract costs was in conformity with FASB ASC Topic 340 Other Assets and Deferred Costs beyond for a selection of costs capitalized during the year reading the contracts and comparing the costs to the issuer's subledger. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Other Assets 7 AS 2301 8 The firm did not perform any substantive procedures to evaluate whether the period the issuer used to amortize the capitalized contract costs for contracts with multiple performance obligations was in conformity with FASB ASC Topic 340. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 62 The firm identified control deficiencies related to controls over certain revenue contracts at one of the issuer's locations. The firm did not evaluate the severity of these control deficiencies individually or in combination to determine whether they represented a material weakness. (AS 2201.62) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2310 31 The firm sent positive confirmation requests to the issuer's customers for a sample of accounts receivable. For certain confirmations that were not returned the firm did not perform alternative procedures that provided sufficient appropriate audit evidence that these balances represented valid receivables as of the confirmation date. (AS 2310.31) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A F No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 42 The firm selected for testing a control that included the review of the data the issuer used to estimate the ACL but did not evaluate the specific review procedures that the control owner performed to assess the accuracy and completeness of these data. (AS 2201.42 and .44) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A F No ICFR audit only Audits with multiple deficiencies Allowance for Credit Losses 1 AS 2201 44 The firm selected for testing a control that included the review of the data the issuer used to estimate the ACL but did not evaluate the specific review procedures that the control owner performed to assess the accuracy and completeness of these data. (AS 2201.42 and .44) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A F No ICFR audit only Audits with multiple deficiencies Business Combination 2 AS 2201 39 During the year the issuer acquired a business. The firm selected for testing a control that consisted of the issuer's review of the valuation of certain assets acquired and liabilities assumed. The firm did not identify and test any controls over the accuracy and completeness of a system-generated report that the control owners used in the operation of this control for certain liabilities assumed. (AS 2201.39) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Revenue 1 AS 2301 8 Certain of the issuer's revenue arrangements included multiple performance obligations. In its evaluation of the issuer's revenue recognition for these arrangements the firm did not evaluate beyond reading certain issuer-prepared memorandums (1) whether the issuer identified all performance obligations in its customer contracts and (2) certain contractual terms and conditions that could affect the issuer's revenue recognition. (AS 2301.08) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A H No Financial statement audit only Audits with a single deficiency Financial Reporting 1 AS 2301 8 The issuer disclosed various material weaknesses including deficiencies related to segregation of duties. In understanding the issuer's financial reporting process the firm identified that the general ledger system allowed individuals to both post and approve journal entries and to edit journal entries after they have been approved. The firm did not perform any substantive procedures to address these risks related to inappropriate segregation of duties. (AS 2301.08; AS 2401.61) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A H No Financial statement audit only Audits with a single deficiency Financial Reporting 1 AS 2401 61 The issuer disclosed various material weaknesses including deficiencies related to segregation of duties. In understanding the issuer's financial reporting process the firm identified that the general ledger system allowed individuals to both post and approve journal entries and to edit journal entries after they have been approved. The firm did not perform any substantive procedures to address these risks related to inappropriate segregation of duties. (AS 2301.08; AS 2401.61) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A I No ICFR audit only Audits with a single deficiency Going Concern 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of its evaluation of its ability to continue as a going concern. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain significant assumptions the issuer used to develop the forecasted cash flows used in its evaluation. (AS 2201.42 and .44) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A I No ICFR audit only Audits with a single deficiency Going Concern 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of its evaluation of its ability to continue as a going concern. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain significant assumptions the issuer used to develop the forecasted cash flows used in its evaluation. (AS 2201.42 and .44) Annually Inspected 238 PricewaterhouseCoopers LLP 2024 United States PricewaterhouseCoopers International Limited 2025-02-26T00:00:00 Part I.A J No ICFR audit only Audits with a single deficiency Journal Entries 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review and approval of manual journal entries prior to posting them to the general ledger. In evaluating the design of this control the firm did not identify that the general ledger system allowed the control owners to modify journal entries prior to posting. (AS 2201.42) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 1 AS 2201 46 The issuer used an information-technology (IT) system to initiate transactions related to certain revenue. In its testing of controls over this revenue the firm tested various automated and IT-dependent manual controls that used data generated by this IT system. As a result of the following audit deficiencies the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) In connection with our review the issuer reevaluated its controls over this revenue and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 2 AS 2201 68 The issuer used an information-technology (IT) system to initiate transactions related to certain revenue. The firm identified a control deficiency related to change management for this IT system. The following audit deficiencies were identified: · The firm identified and tested a compensating control that it believed mitigated this deficiency but did not identify that the control owner used information in the performance of this control that was produced by this IT system. (AS 2201.68) In connection with our review the issuer reevaluated its controls over this revenue and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 3 AS 2201 62 The issuer used an information-technology (IT) system to initiate transactions related to certain revenue. The firm identified a control deficiency related to change management for this IT system. The following audit deficiencies were identified: · The firm did not sufficiently evaluate the severity of the control deficiency because it did not accurately calculate the magnitude of the potential misstatement resulting from this deficiency. (AS 2201.62) In connection with our review the issuer reevaluated its controls over this revenue and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 4 AS 2201 39 For this revenue the following additional deficiencies were identified: · The firm did not identify and test any controls over the accuracy and completeness of certain information used to record revenue. (AS 2201.39) In connection with our review the issuer reevaluated its controls over this revenue and concluded that a material weakness existed that had not been previously identified. The issuer subsequently reflected this material weakness in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 5 AS 2301 8 For this revenue the following additional deficiencies were identified: · The firm's substantive procedures to test revenue included testing a sample of transactions. The firm did not perform any procedures to test whether performance obligations were satisfied before revenue was recognized. (AS 2301.08) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Revenue 6 AS 1105 10 For this revenue the following additional deficiencies were identified: · For certain of this revenue the firm did not perform procedures to test or test controls over the accuracy and completeness of certain information used in its substantive testing. (AS 1105.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 7 AS 2201 42 The issuer engaged a specialist to perform an assessment of certain of its intangible assets for possible impairment. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of this assessment and related significant assumptions. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of certain of these assumptions. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 7 AS 2201 44 The issuer engaged a specialist to perform an assessment of certain of its intangible assets for possible impairment. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of this assessment and related significant assumptions. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of certain of these assumptions. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 8 AS 1105 A8b The issuer engaged a specialist to perform an assessment of certain of its intangible assets for possible impairment. The following deficiencies were identified: · The firm did not perform any substantive procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialist or by the issuer. (AS 1105.A8b; AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 8 AS 2501 16 The issuer engaged a specialist to perform an assessment of certain of its intangible assets for possible impairment. The following deficiencies were identified: · The firm did not perform any substantive procedures to evaluate the reasonableness of certain significant assumptions developed by the company's specialist or by the issuer. (AS 1105.A8b; AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with an incorrect opinion on the financial statements and/or ICFR Intangible Assets Significant Risk 9 AS 2501 16 The issuer engaged a specialist to perform an assessment of certain of its intangible assets for possible impairment. The following deficiencies were identified: · The firm did not sufficiently evaluate the reasonableness of certain other significant assumptions developed by the issuer because its procedures were limited to evaluating the assumptions for consistency with the issuer's recent experience. Further the firm did not evaluate certain significant differences between these assumptions and the issuer's recent experience. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2315 16 The firm's substantive procedures to test one type of revenue at one business unit included selecting a sample of transactions for testing. The firm's sample was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account the allowable risk of incorrect acceptance. (AS 2315.16 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2315 23 The firm's substantive procedures to test one type of revenue at one business unit included selecting a sample of transactions for testing. The firm's sample was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account the allowable risk of incorrect acceptance. (AS 2315.16 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2315 23A The firm's substantive procedures to test one type of revenue at one business unit included selecting a sample of transactions for testing. The firm's sample was too small to provide sufficient appropriate audit evidence because in determining the sample size the firm did not take into account the allowable risk of incorrect acceptance. (AS 2315.16 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2101 11 The firm subjected this type of revenue from certain other business units to less extensive audit procedures. In determining the extent to which audit procedures should be performed the firm did not evaluate (1) the materiality of these business units (2) the specific risks associated with these business units and (3) whether the risks of material misstatement that the firm identified for the business unit subject to more extensive audit procedures also applied to these business units. (AS 2101.11 and .12) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2101 12 The firm subjected this type of revenue from certain other business units to less extensive audit procedures. In determining the extent to which audit procedures should be performed the firm did not evaluate (1) the materiality of these business units (2) the specific risks associated with these business units and (3) whether the risks of material misstatement that the firm identified for the business unit subject to more extensive audit procedures also applied to these business units. (AS 2101.11 and .12) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2305 13 For another business unit the issuer contracted with an external party to manufacture and sell products on behalf of the issuer and recognized the associated revenue based on information it obtained from this external party. The following deficiencies were identified: · The firm's procedures to test the completeness of this revenue consisted of performing substantive analytical procedures. The firm did not determine whether the expectations it used in these analytical procedures were based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2305 14 For another business unit the issuer contracted with an external party to manufacture and sell products on behalf of the issuer and recognized the associated revenue based on information it obtained from this external party. The following deficiencies were identified: · The firm's procedures to test the completeness of this revenue consisted of performing substantive analytical procedures. The firm did not determine whether the expectations it used in these analytical procedures were based on predictable relationships. (AS 2305.13 and .14) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 4 For another business unit the issuer contracted with an external party to manufacture and sell products on behalf of the issuer and recognized the associated revenue based on information it obtained from this external party. The following deficiencies were identified: · The issuer recognized certain of this revenue based on sales of this product to the external party. The firm obtained and used information from the external party in its substantive testing of this revenue but did not perform procedures to evaluate the reliability of this information. (AS 1105.04 and .06) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 6 For another business unit the issuer contracted with an external party to manufacture and sell products on behalf of the issuer and recognized the associated revenue based on information it obtained from this external party. The following deficiencies were identified: · The issuer recognized certain of this revenue based on sales of this product to the external party. The firm obtained and used information from the external party in its substantive testing of this revenue but did not perform procedures to evaluate the reliability of this information. (AS 1105.04 and .06) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 8 For another business unit the issuer contracted with an external party to manufacture and sell products on behalf of the issuer and recognized the associated revenue based on information it obtained from this external party. The following deficiencies were identified: · The issuer recognized certain of this revenue based on sales of this product to the external party. The firm did not evaluate the terms and conditions included in the issuer's sales contract with the external party. (AS 2301.08) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 6 AS 2501 16 During the year the issuer acquired a business and engaged a specialist to determine the fair values of certain acquired assets. The following deficiencies were identified: · For one of these assets the firm did not sufficiently evaluate the reasonableness of a significant assumption developed by the issuer because it did not perform any procedures to evaluate the reasonableness of a component of this significant assumption. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 7 AS 1105 A8a During the year the issuer acquired a business and engaged a specialist to determine the fair values of certain acquired assets. The following deficiencies were identified: · For certain other assets the firm did not perform any procedures to test the accuracy and completeness of issuer-produced information that was used by the specialist to determine their fair values. (AS 1105.A8a) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 8 AS 2810 30 The firm did not identify and evaluate misstatements in certain required disclosures under FASB ASC Topic 470 Debt and FASB ASC Topic 805 Business Combinations related to the accounting for the purchase price allocation. (AS 2810.30 and .31) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Business Combination Significant Risk 8 AS 2810 31 The firm did not identify and evaluate misstatements in certain required disclosures under FASB ASC Topic 470 Debt and FASB ASC Topic 805 Business Combinations related to the accounting for the purchase price allocation. (AS 2810.30 and .31) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Statement of Cash Flows 9 AS 1105 10 The firm used an issuer-prepared schedule in its substantive testing of the issuer's statement of cash flows but did not perform any procedures to test or test controls over the accuracy and completeness of certain information included in this schedule. (AS 1105.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 10 AS 2401 61 For certain of the issuer's business units the firm did not perform any procedures to identify and select journal entries and other adjustments for testing without having an appropriate basis for excluding those business units. (AS 2401.61) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 39 For loans that were collectively evaluated for impairment the issuer determined the qualitative reserve component of the ACL using various risk-weighted qualitative factors. The following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of these qualitative factors using an internally developed framework comprised of various assumptions. The firm did not identify and test any controls that addressed the (1) reasonableness of the assumptions from the framework that were used in the operation of this control (2) reasonableness of the risk weights assigned to the qualitative factors and (3) the accuracy of certain loan information used in the operation of the issuer's controls over the ACL that the firm selected for testing. (AS 2201.39) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2501 16 For loans that were collectively evaluated for impairment the issuer determined the qualitative reserve component of the ACL using various risk-weighted qualitative factors. The following deficiencies were identified: · The firm's approach for substantively testing the qualitative reserve component of the ACL was to test the issuer's process. The firm did not perform any procedures to evaluate whether the issuer had a reasonable basis for the qualitative factors used in developing the reserve. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2201 42 The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the loan risk ratings assigned to certain loans. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the loan risk ratings. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2201 44 The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the loan risk ratings assigned to certain loans. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of the loan risk ratings. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 4 AS 2201 42 The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the loan risk ratings assigned to certain loans. The firm did not assess whether the issuer's review was designed to occur with sufficient scope and frequency to address the risks of material misstatement. (AS 2201.42) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 5 AS 2201 39 The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's comparison of loan risk ratings determined by an external loan reviewer to loan risk ratings determined by the issuer. The firm did not identify and test any controls that addressed the reasonableness of the loan risk ratings determined by the external loan reviewer. (AS 2201.39) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 6 AS 2301 16 The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm's substantive procedures to test the reasonableness of the assigned loan risk rating for these loans included selecting a sample of loans for testing. The sample size that the firm used was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 6 AS 2301 18 The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm's substantive procedures to test the reasonableness of the assigned loan risk rating for these loans included selecting a sample of loans for testing. The sample size that the firm used was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 6 AS 2301 37 The issuer assigned certain loans a loan risk rating which was an important input in estimating the quantitative component of the ACL. The following deficiencies were identified: · The firm's substantive procedures to test the reasonableness of the assigned loan risk rating for these loans included selecting a sample of loans for testing. The sample size that the firm used was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 7 AS 2201 42 During the year the issuer acquired a business. The firm selected for testing controls that included the issuer's review of the valuation of acquired loans. The firm did not evaluate the specific review procedures that the control owner performed to assess the (1) reasonableness of the assumptions the issuer used to develop the fair value of these loans and (2) accuracy and completeness of certain data used in the operation of these controls. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combination Significant Risk 7 AS 2201 44 During the year the issuer acquired a business. The firm selected for testing controls that included the issuer's review of the valuation of acquired loans. The firm did not evaluate the specific review procedures that the control owner performed to assess the (1) reasonableness of the assumptions the issuer used to develop the fair value of these loans and (2) accuracy and completeness of certain data used in the operation of these controls. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 1 AS 2201 42 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment and the firm selected for testing a control that consisted of the issuer's review of this assessment and related significant assumptions. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of certain significant assumptions used in the assessment. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 1 AS 2201 44 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment and the firm selected for testing a control that consisted of the issuer's review of this assessment and related significant assumptions. The firm did not evaluate the specific review procedures the control owner performed to assess the reasonableness of certain significant assumptions used in the assessment. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 2 AS 2201 39 The issuer engaged a specialist to perform an assessment of its goodwill for possible impairment and the firm selected for testing a control that consisted of the issuer's review of this assessment and related significant assumptions. The firm did not identify and test any controls over the review of the forecasted financial information used in the operation of this control. (AS 2201.39) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 3 AS 2501 16 The firm's approach to substantively test the issuer's impairment assessment consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value of the issuer's single reporting unit with the assistance of an auditor-employed specialist. The following deficiencies were identified: · In testing the issuer's process the firm did not perform procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 4 AS 1105 A8b The firm's approach to substantively test the issuer's impairment assessment consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value of the issuer's single reporting unit with the assistance of an auditor-employed specialist. The following deficiencies were identified: · In testing the issuer's process the firm did not perform sufficient procedures to evaluate the reasonableness of another significant assumption developed by the company's specialist because its procedures were limited to evaluating this assumption for consistency with historical experience without taking into account changes in conditions and events affecting the issuer. (AS 1105.A8b) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 5 AS 1105 A10 The firm's approach to substantively test the issuer's impairment assessment consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value of the issuer's single reporting unit with the assistance of an auditor-employed specialist. The following deficiencies were identified: · The firm did not sufficiently evaluate the relevance and reliability of the company's specialist's work because it did not identify and evaluate inconsistencies between another significant assumption developed by the company's specialist and (1) the auditor-employed specialist's independent expectation of this assumption and (2) management's analysis of this assumption. (AS 1105.A9 and .A10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 5 AS 1105 A9 The firm's approach to substantively test the issuer's impairment assessment consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value of the issuer's single reporting unit with the assistance of an auditor-employed specialist. The following deficiencies were identified: · The firm did not sufficiently evaluate the relevance and reliability of the company's specialist's work because it did not identify and evaluate inconsistencies between another significant assumption developed by the company's specialist and (1) the auditor-employed specialist's independent expectation of this assumption and (2) management's analysis of this assumption. (AS 1105.A9 and .A10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 6 AS 1201 C6 The firm's approach to substantively test the issuer's impairment assessment consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value of the issuer's single reporting unit with the assistance of an auditor-employed specialist. The following deficiencies were identified: · In developing an independent expectation the firm used another significant assumption. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for its selection of this significant assumption from a range of potential assumptions. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 6 AS 1201 C7 The firm's approach to substantively test the issuer's impairment assessment consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value of the issuer's single reporting unit with the assistance of an auditor-employed specialist. The following deficiencies were identified: · In developing an independent expectation the firm used another significant assumption. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for its selection of this significant assumption from a range of potential assumptions. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 6 AS 2501 22 The firm's approach to substantively test the issuer's impairment assessment consisted of (1) testing the issuer's process and (2) developing an independent expectation of the fair value of the issuer's single reporting unit with the assistance of an auditor-employed specialist. The following deficiencies were identified: · In developing an independent expectation the firm used another significant assumption. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for its selection of this significant assumption from a range of potential assumptions. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 7 AS 2201 42 The issuer recorded the fair value of certain of its available-for-sale (AFS) securities based on prices it obtained from an external pricing service. The firm selected for testing a control that consisted of the issuer's comparison of its recorded prices to prices obtained from another external pricing service and the issuer's investigation of price variances that exceeded certain thresholds. The firm did not evaluate the specific review procedures that the control owner performed to (1) assess whether the prices the issuer used in this comparison were derived from independent sources and (2) investigate identified variances and determine whether items identified for follow up had been appropriately resolved. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 7 AS 2201 44 The issuer recorded the fair value of certain of its available-for-sale (AFS) securities based on prices it obtained from an external pricing service. The firm selected for testing a control that consisted of the issuer's comparison of its recorded prices to prices obtained from another external pricing service and the issuer's investigation of price variances that exceeded certain thresholds. The firm did not evaluate the specific review procedures that the control owner performed to (1) assess whether the prices the issuer used in this comparison were derived from independent sources and (2) investigate identified variances and determine whether items identified for follow up had been appropriately resolved. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 8 AS 2201 39 The firm selected for testing a control that consisted of the issuer's review of certain AFS securities for potential impairment. The firm did not identify and test any controls over the accuracy and completeness of certain information used in the operation of this control. (AS 2201.39) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 9 AS 1201 C6 The firm's approach for substantively testing the fair values of certain of the issuer's held-to-maturity securities was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and significant assumptions used by the issuer. The firm did not sufficiently test the fair value of these investments because it did not identify that the auditor-employed specialist did not perform procedures to evaluate whether the issuer had a reasonable basis for certain significant assumptions it used. (AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 9 AS 1201 C7 The firm's approach for substantively testing the fair values of certain of the issuer's held-to-maturity securities was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and significant assumptions used by the issuer. The firm did not sufficiently test the fair value of these investments because it did not identify that the auditor-employed specialist did not perform procedures to evaluate whether the issuer had a reasonable basis for certain significant assumptions it used. (AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Investments 9 AS 2501 16 The firm's approach for substantively testing the fair values of certain of the issuer's held-to-maturity securities was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methods and significant assumptions used by the issuer. The firm did not sufficiently test the fair value of these investments because it did not identify that the auditor-employed specialist did not perform procedures to evaluate whether the issuer had a reasonable basis for certain significant assumptions it used. (AS 1201.C6 and .C7; AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Other Investments 1 AS 1105 A8b The issuer engaged a specialist to determine the fair values for its investments in certain entities. The firm's approach for substantively testing these fair value measurements was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not sufficiently evaluate the reasonableness of certain significant assumptions developed by the company's specialist because the auditor-employed specialist did not take into account inconsistencies between these assumptions and other significant assumptions developed by the issuer. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Other Investments 1 AS 1201 C6 The issuer engaged a specialist to determine the fair values for its investments in certain entities. The firm's approach for substantively testing these fair value measurements was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not sufficiently evaluate the reasonableness of certain significant assumptions developed by the company's specialist because the auditor-employed specialist did not take into account inconsistencies between these assumptions and other significant assumptions developed by the issuer. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Other Investments 1 AS 1201 C7 The issuer engaged a specialist to determine the fair values for its investments in certain entities. The firm's approach for substantively testing these fair value measurements was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not sufficiently evaluate the reasonableness of certain significant assumptions developed by the company's specialist because the auditor-employed specialist did not take into account inconsistencies between these assumptions and other significant assumptions developed by the issuer. (AS 1105.A8b; AS 1201.C6 and .C7) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Other Investments 2 AS 2501 16 The issuer engaged a specialist to determine the fair values for its investments in certain entities. The firm's approach for substantively testing these fair value measurements was to test the issuer's process and the firm used an auditor-employed specialist to evaluate certain significant assumptions the company's specialist used. The following deficiencies were identified: · The firm did not sufficiently evaluate the reasonableness of certain significant assumptions developed by the issuer because it did not perform any procedures to evaluate the reasonableness of certain components of these assumptions. Further for certain of these significant assumptions the firm did not evaluate significant differences between these assumptions and the issuer's recent experience. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Revenue 3 AS 2501 16 The firm's substantive procedures to test the issuer's disclosure related to remaining performance obligations included selecting a sample of contracts for testing. For certain of these contracts the firm did not perform procedures to evaluate the reasonableness of a significant assumption used by the issuer to develop this disclosure. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets 4 AS 2301 8 The issuer performed an assessment of certain of its long-lived assets for possible impairment at year end and concluded that the carrying value of these assets was recoverable. The firm did not identify that the issuer did not consider an indicator of possible impairment in its assessment of the recoverability of these assets. (AS 2301.08) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 39 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer used an IT system to record transactions related to revenue. The firm did not identify and test any controls that addressed the risk that users with the ability to develop changes also had the ability to implement those changes. (AS 2201.39) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 46 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer used an IT system to record transactions related to revenue. In its testing of controls over revenue the firm tested an IT-dependent manual control that used a report generated from this system. As a result of this deficiency in the firm's testing of ITGCs the firm's testing of this IT-dependent manual control was not sufficient. (AS 2201.46) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. For certain revenue the following additional deficiencies were identified: · For one type of revenue the firm did not perform substantive procedures to test whether performance obligations had been satisfied before revenue was recognized beyond comparisons to customer payments and/or issuer-produced information. (AS 2301.08 and .13) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 13 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. For certain revenue the following additional deficiencies were identified: · For one type of revenue the firm did not perform substantive procedures to test whether performance obligations had been satisfied before revenue was recognized beyond comparisons to customer payments and/or issuer-produced information. (AS 2301.08 and .13) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. For certain revenue the following additional deficiencies were identified: · For another type of revenue the firm's substantive procedures consisted of selecting a sample of transactions for testing. For certain transactions the firm did not perform procedures to test or test controls over the accuracy of certain issuer-produced information that the firm used in its testing. (AS 1105.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A F No Both financial statement and ICFR audits Audits with multiple deficiencies Income Taxes 5 AS 2201 39 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The firm selected for testing a control that consisted of the issuer's review of the valuation of deferred tax assets. The firm did not identify and test any controls over the review of forecasted financial information used in the operation of this control. (AS 2201.39) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 1 AS 1201 C6 During the year the issuer entered into agreements resulting in the issuance of convertible notes and an option for the creditor to purchase additional convertible notes; the issuer accounted for this option as a liability. Certain of these notes were subsequently converted to equity. The following deficiencies were identified: · The firm's approach for substantively testing the fair values of the convertible notes and related purchase option at issuance and year end was to develop independent expectations of the estimates using the work of an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for a component of a significant assumption it developed and used in each independent expectation. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 1 AS 1201 C7 During the year the issuer entered into agreements resulting in the issuance of convertible notes and an option for the creditor to purchase additional convertible notes; the issuer accounted for this option as a liability. Certain of these notes were subsequently converted to equity. The following deficiencies were identified: · The firm's approach for substantively testing the fair values of the convertible notes and related purchase option at issuance and year end was to develop independent expectations of the estimates using the work of an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for a component of a significant assumption it developed and used in each independent expectation. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 1 AS 2501 22 During the year the issuer entered into agreements resulting in the issuance of convertible notes and an option for the creditor to purchase additional convertible notes; the issuer accounted for this option as a liability. Certain of these notes were subsequently converted to equity. The following deficiencies were identified: · The firm's approach for substantively testing the fair values of the convertible notes and related purchase option at issuance and year end was to develop independent expectations of the estimates using the work of an auditor-employed specialist. The firm did not identify that the auditor-employed specialist did not perform procedures to demonstrate it had a reasonable basis for a component of a significant assumption it developed and used in each independent expectation. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Convertible Debt Significant Risk 2 AS 2501 10 During the year the issuer entered into agreements resulting in the issuance of convertible notes and an option for the creditor to purchase additional convertible notes; the issuer accounted for this option as a liability. Certain of these notes were subsequently converted to equity. The following deficiencies were identified: · The firm's approach for substantively testing the fair value of the converted notes was to test the issuer's process. The firm did not evaluate whether the method used by the issuer to measure the fair value was in conformity with the requirements of FASB ASC Topic 820 Fair Value Measurement. (AS 2501.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Intangible Assets 3 AS 2501 7 During the year events or changes in circumstances existed indicating that the carrying value of certain of the issuer's intangible assets may not be recoverable and the issuer performed assessments of these assets for possible impairment. The following deficiencies were identified: · For one asset group the firm did not perform any substantive procedures to test the issuer's impairment assessment. (AS 2501.07) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Intangible Assets 4 AS 2501 21 During the year events or changes in circumstances existed indicating that the carrying value of certain of the issuer's intangible assets may not be recoverable and the issuer performed assessments of these assets for possible impairment. The following deficiencies were identified: · For another asset group the firm's substantive procedures to test the issuer's impairment assessment consisted of developing an independent expectation of the undiscounted cash flows used to assess the asset group for recoverability. In developing its expectation the firm did not perform procedures to demonstrate it had a reasonable basis for the undiscounted cash flow period it used including taking into account certain requirements of FASB ASC Topic 360 Property Plant and Equipment. (AS 2501.21 and .22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A G No Financial statement audit only Audits with multiple deficiencies Intangible Assets 4 AS 2501 22 During the year events or changes in circumstances existed indicating that the carrying value of certain of the issuer's intangible assets may not be recoverable and the issuer performed assessments of these assets for possible impairment. The following deficiencies were identified: · For another asset group the firm's substantive procedures to test the issuer's impairment assessment consisted of developing an independent expectation of the undiscounted cash flows used to assess the asset group for recoverability. In developing its expectation the firm did not perform procedures to demonstrate it had a reasonable basis for the undiscounted cash flow period it used including taking into account certain requirements of FASB ASC Topic 360 Property Plant and Equipment. (AS 2501.21 and .22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 1 AS 2201 46 The issuer used a service organization to host and maintain an IT system that the issuer used to initiate process and record transactions related to revenue and inventory. In its testing of controls over these accounts the firm tested certain automated and/or IT-dependent manual controls that used data and reports generated or maintained by this IT system. As a result of the following deficiency in the firm's testing of ITGCs the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used a service organization to host and maintain an IT system that the issuer used to initiate process and record transactions related to revenue and inventory. In its testing of controls over these accounts the firm tested certain automated and/or IT-dependent manual controls that used data and reports generated or maintained by this IT system. As a result of the following deficiency in the firm's testing of ITGCs the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 39 With respect to this service organization the firm obtained a service auditor's report and identified a complementary user control related to change management that the service auditor's report described as necessary. The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented this control. (AS 2201.39 and .B22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 39 With respect to this service organization the firm obtained a service auditor's report and identified a complementary user control related to change management that the service auditor's report described as necessary. The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented this control. (AS 2201.39 and .B22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 2 AS 2201 B22 With respect to this service organization the firm obtained a service auditor's report and identified a complementary user control related to change management that the service auditor's report described as necessary. The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented this control. (AS 2201.39 and .B22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 B22 With respect to this service organization the firm obtained a service auditor's report and identified a complementary user control related to change management that the service auditor's report described as necessary. The firm did not perform procedures beyond inquiry to evaluate whether the issuer had implemented this control. (AS 2201.39 and .B22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 1105 10 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over revenue as follows: · The firm did not perform procedures to test or sufficiently test controls over the completeness of certain reports that the firm used in its substantive testing of revenue. (AS 1105.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 16 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over revenue as follows: · The sample sizes the firm used in its substantive procedures to test revenue 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 18 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over revenue as follows: · The sample sizes the firm used in its substantive procedures to test revenue 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 37 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over revenue as follows: · The sample sizes the firm used in its substantive procedures to test revenue 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 19 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over revenue as follows: · The sample sizes the firm used in its substantive procedures to test revenue 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 23 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over revenue as follows: · The sample sizes the firm used in its substantive procedures to test revenue 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 23A As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over revenue as follows: · The sample sizes the firm used in its substantive procedures to test revenue 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 due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used two IT systems to initiate process and record transactions related to certain revenue. In its testing of controls over this revenue the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of ITGCs the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 42 With respect to change management the firm selected for testing a control over the issuer's review of changes to the production environments for these IT systems. The firm did not evaluate the review procedures that the control owner 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 44 With respect to change management the firm selected for testing a control over the issuer's review of changes to the production environments for these IT systems. The firm did not evaluate the review procedures that the control owner 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 42 With respect to change management the firm selected for testing a control over the issuer's review of changes to the production environments for these IT systems. The firm did not identify that this control was not designed to address the risk that unauthorized changes were made to these systems as certain users with the ability to develop and implement changes also had administrative access to the monitoring tools used in the operation of this control. (AS 2201.42) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 16 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over this revenue as follows: · The sample sizes that the firm used in certain of its substantive procedures to test this revenue 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 18 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over this revenue as follows: · The sample sizes that the firm used in certain of its substantive procedures to test this revenue 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 37 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over this revenue as follows: · The sample sizes that the firm used in certain of its substantive procedures to test this revenue 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 19 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over this revenue as follows: · The sample sizes that the firm used in certain of its substantive procedures to test this revenue 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 23 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over this revenue as follows: · The sample sizes that the firm used in certain of its substantive procedures to test this revenue 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2315 23A As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over this revenue as follows: · The sample sizes that the firm used in certain of its substantive procedures to test this revenue 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) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 1105 10 As a result of the firm's control testing deficiencies the firm did not perform sufficient substantive procedures over this revenue as follows: · For certain of this revenue the firm did not perform procedures to test or sufficiently test controls over the accuracy and completeness of certain system-generated data and reports the firm used in its substantive testing. (AS 1105.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 1 AS 1105 4 The firm's approach to substantively test the fair value of certain investments was to develop independent expectations of the fair values using the work of an auditor-employed specialist. The following deficiencies were identified: · The auditor-employed specialist used data from external sources to develop certain significant assumptions for its independent expectations. The firm did not identify that the auditor-employed specialist did not perform any procedures to evaluate the relevance of these data. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 1 AS 1105 6 The firm's approach to substantively test the fair value of certain investments was to develop independent expectations of the fair values using the work of an auditor-employed specialist. The following deficiencies were identified: · The auditor-employed specialist used data from external sources to develop certain significant assumptions for its independent expectations. The firm did not identify that the auditor-employed specialist did not perform any procedures to evaluate the relevance of these data. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 1 AS 1201 C6 The firm's approach to substantively test the fair value of certain investments was to develop independent expectations of the fair values using the work of an auditor-employed specialist. The following deficiencies were identified: · The auditor-employed specialist used data from external sources to develop certain significant assumptions for its independent expectations. The firm did not identify that the auditor-employed specialist did not perform any procedures to evaluate the relevance of these data. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 1 AS 1201 C7 The firm's approach to substantively test the fair value of certain investments was to develop independent expectations of the fair values using the work of an auditor-employed specialist. The following deficiencies were identified: · The auditor-employed specialist used data from external sources to develop certain significant assumptions for its independent expectations. The firm did not identify that the auditor-employed specialist did not perform any procedures to evaluate the relevance of these data. (AS 1105.04 and .06; AS 1201.C6 and .C7) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 2 AS 1201 C6 The firm's approach to substantively test the fair value of certain investments was to develop independent expectations of the fair values using the work of an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform any procedures to demonstrate it had a reasonable basis for certain other significant assumptions used for its independent expectations. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 2 AS 1201 C7 The firm's approach to substantively test the fair value of certain investments was to develop independent expectations of the fair values using the work of an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform any procedures to demonstrate it had a reasonable basis for certain other significant assumptions used for its independent expectations. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with multiple deficiencies Investments Significant Risk 2 AS 2501 22 The firm's approach to substantively test the fair value of certain investments was to develop independent expectations of the fair values using the work of an auditor-employed specialist. The following deficiencies were identified: · The firm did not identify that the auditor-employed specialist did not perform any procedures to demonstrate it had a reasonable basis for certain other significant assumptions used for its independent expectations. (AS 1201.C6 and .C7; AS 2501.22) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A K No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 1 AS 2201 39 The issuer performed an assessment of goodwill for possible impairment using various significant assumptions. The following deficiencies were identified: · The firm did not identify and test any controls over the reasonableness of the significant assumptions used in the impairment assessment. (AS 2201.39) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A K No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 2 AS 2501 16 The issuer performed an assessment of goodwill for possible impairment using various significant assumptions. The following deficiencies were identified: · The firm did not sufficiently evaluate the reasonableness of certain significant assumptions used in the impairment assessment because its procedures were limited to performing sensitivity analyses. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A K No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2201 42 The firm selected for testing a control that consisted of the issuer's reviews of its assessment of long-lived assets for possible impairment. The firm did not evaluate the specific review procedures that the control owners performed to assess the qualitative factors used to determine whether indicators of possible impairment existed. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A K No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2201 44 The firm selected for testing a control that consisted of the issuer's reviews of its assessment of long-lived assets for possible impairment. The firm did not evaluate the specific review procedures that the control owners performed to assess the qualitative factors used to determine whether indicators of possible impairment existed. (AS 2201.42 and .44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 1 AS 2501 16 The firm's approach for substantively testing one component of the issuer's reserve for excess and obsolete inventory was to test the issuer's process. The firm did not sufficiently evaluate the reasonableness of a significant assumption the issuer used because the firm did not (1) take into account the issuer's ability to carry out this assumption (2) take into account changes in conditions and events affecting the issuer and (3) evaluate significant differences between this assumption and the issuer's historical experience. (AS 2501.16 and .17) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 1 AS 2501 17 The firm's approach for substantively testing one component of the issuer's reserve for excess and obsolete inventory was to test the issuer's process. The firm did not sufficiently evaluate the reasonableness of a significant assumption the issuer used because the firm did not (1) take into account the issuer's ability to carry out this assumption (2) take into account changes in conditions and events affecting the issuer and (3) evaluate significant differences between this assumption and the issuer's historical experience. (AS 2501.16 and .17) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Inventory Significant Risk 2 AS 1105 10 The firm used a system-generated report in its substantive procedures to test the remainder of the issuer's reserve for excess and obsolete inventory. The firm relied on its testing of the accuracy and completeness of this report that was performed in the prior year. The firm did not perform sufficient procedures to test or sufficiently test controls over the accuracy and completeness of this report because it did not take into account that user access controls over this IT system were ineffective. (AS 1105.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A L No Financial statement audit only Audits with multiple deficiencies Revenue 3 AS 2301 8 The firm's substantive procedures to test certain revenue included selecting a sample of transactions for testing. For certain of these selections the firm did not perform sufficient procedures to evaluate whether the customer contracts met the collectability criteria required to recognize revenue under FASB ASC Topic 606 Revenue from Contracts with Customers because these customers did not meet one or more of the issuer's established credit policies and the firm did not evaluate the basis on which the customer or transaction was approved. (AS 2301.08) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A M No Financial statement audit only Audits with a single deficiency Revenue 1 AS 2501 16 For certain contracts the issuer recognized revenue over time based on costs incurred to date relative to total estimated costs to complete. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions that the issuer used to develop the estimated costs to complete the open contracts the firm selected for testing. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A N No Financial statement audit only Audits with a single deficiency Business Combination Significant Risk 1 AS 2501 16 During the year the issuer acquired a business and determined the fair value of certain acquired intangible assets using various significant assumptions. The firm's approach for substantively testing the fair values of these assets was to test the issuer's process. The firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions used in the valuation of these assets. (AS 2501.16) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A O No Financial statement audit only Audits with a single deficiency Revenue Significant Risk 1 AS 2301 16 The firm identified a significant deficiency related to an IT system that the issuer used to record revenue. The firm's substantive procedures to test revenue at one business unit included selecting samples of transactions for testing. The sample sizes the firm used 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 it did not take into account the potential effect of the significant deficiency on the controls it relied upon. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A O No Financial statement audit only Audits with a single deficiency Revenue Significant Risk 1 AS 2301 18 The firm identified a significant deficiency related to an IT system that the issuer used to record revenue. The firm's substantive procedures to test revenue at one business unit included selecting samples of transactions for testing. The sample sizes the firm used 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 it did not take into account the potential effect of the significant deficiency on the controls it relied upon. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A O No Financial statement audit only Audits with a single deficiency Revenue Significant Risk 1 AS 2301 37 The firm identified a significant deficiency related to an IT system that the issuer used to record revenue. The firm's substantive procedures to test revenue at one business unit included selecting samples of transactions for testing. The sample sizes the firm used 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 it did not take into account the potential effect of the significant deficiency on the controls it relied upon. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A O No Financial statement audit only Audits with a single deficiency Revenue Significant Risk 1 AS 2315 19 The firm identified a significant deficiency related to an IT system that the issuer used to record revenue. The firm's substantive procedures to test revenue at one business unit included selecting samples of transactions for testing. The sample sizes the firm used 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 it did not take into account the potential effect of the significant deficiency on the controls it relied upon. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A O No Financial statement audit only Audits with a single deficiency Revenue Significant Risk 1 AS 2315 23 The firm identified a significant deficiency related to an IT system that the issuer used to record revenue. The firm's substantive procedures to test revenue at one business unit included selecting samples of transactions for testing. The sample sizes the firm used 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 it did not take into account the potential effect of the significant deficiency on the controls it relied upon. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A O No Financial statement audit only Audits with a single deficiency Revenue Significant Risk 1 AS 2315 23A The firm identified a significant deficiency related to an IT system that the issuer used to record revenue. The firm's substantive procedures to test revenue at one business unit included selecting samples of transactions for testing. The sample sizes the firm used 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 it did not take into account the potential effect of the significant deficiency on the controls it relied upon. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A P No ICFR audit only Audits with a single deficiency Revenue and Related Accounts Fraud Risk 1 AS 2201 44 For certain contracts the issuer recognized revenue over time based on costs incurred to date relative to total estimated costs to complete. The firm selected for testing a control that included the issuer's review of the (1) revenue calculations (2) accuracy and completeness of certain related information and (3) corresponding journal entries. In its testing of the operating effectiveness of this control the firm did not test these aspects. (AS 2201.44) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A Q Yes Financial statement audit only Audits with a single deficiency Income Taxes 1 AS 1105 10 The firm did not perform any procedures to test or test any controls over the accuracy and completeness of certain information produced by the issuer that the firm used in its substantive testing of the income tax provision and a deferred tax asset. (AS 1105.10) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A R No Financial statement audit only Audits with a single deficiency Going Concern 1 AS 1105 4 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the relevance and reliability of certain forecasted financial information because it did not evaluate management's ability to sustain revenue from existing customers. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A R No Financial statement audit only Audits with a single deficiency Going Concern 1 AS 1105 6 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the relevance and reliability of certain forecasted financial information because it did not evaluate management's ability to sustain revenue from existing customers. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A R No Financial statement audit only Audits with a single deficiency Going Concern 1 AS 2415 3 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the relevance and reliability of certain forecasted financial information because it did not evaluate management's ability to sustain revenue from existing customers. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A R No Financial statement audit only Audits with a single deficiency Going Concern 1 AS 2415 8 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the relevance and reliability of certain forecasted financial information because it did not evaluate management's ability to sustain revenue from existing customers. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 243 BDO USA, P.C. 2024 United States BDO International Limited 2025-02-26T00:00:00 Part I.A R No Financial statement audit only Audits with a single deficiency Going Concern 1 AS 2415 9 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not sufficiently evaluate the relevance and reliability of certain forecasted financial information because it did not evaluate management's ability to sustain revenue from existing customers. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 42 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's reviews of the estimated standalone selling prices. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain significant assumptions used to develop the standalone selling prices. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's reviews of the estimated standalone selling prices. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain significant assumptions used to develop the standalone selling prices. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2501 16 Certain of the issuer's revenue arrangements included multiple performance obligations. The issuer allocated the total transaction price for each of these arrangements to the separate performance obligations based on the issuer's estimate of the relative standalone selling prices. The following deficiencies were identified: · The firm's approach for substantively testing the estimated standalone selling prices was to test the issuer's process. The firm selected a sample of revenue arrangements for testing but did not perform procedures to evaluate the reasonableness of certain significant assumptions used to develop the standalone selling prices beyond performing a sensitivity analysis for certain revenue arrangements selected for testing. (AS 2501.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 39 During the year the issuer recorded revenue from bill-and-hold arrangements with one of its customers. The following deficiencies were identified: · The firm did not identify and test any controls that addressed whether the issuer had met certain revenue recognition criteria for these bill-and-hold arrangements. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 8 During the year the issuer recorded revenue from bill-and-hold arrangements with one of its customers. The following deficiencies were identified: · The firm did not perform substantive procedures to evaluate whether the issuer had met certain revenue recognition criteria for these bill-and-hold arrangements beyond reading an issuer-prepared memorandum. (AS 2301.08 and .13) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 13 During the year the issuer recorded revenue from bill-and-hold arrangements with one of its customers. The following deficiencies were identified: · The firm did not perform substantive procedures to evaluate whether the issuer had met certain revenue recognition criteria for these bill-and-hold arrangements beyond reading an issuer-prepared memorandum. (AS 2301.08 and .13) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2810 30 During the year the issuer recorded revenue from bill-and-hold arrangements with one of its customers. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of a required disclosure under FASB ASC Topic 606 Revenue from Contracts with Customers related to when performance obligations are satisfied under bill-and-hold arrangements. (AS 2810.30 and .31) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2810 31 During the year the issuer recorded revenue from bill-and-hold arrangements with one of its customers. The following deficiencies were identified: · The firm did not identify and evaluate the issuer's omission of a required disclosure under FASB ASC Topic 606 Revenue from Contracts with Customers related to when performance obligations are satisfied under bill-and-hold arrangements. (AS 2810.30 and .31) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 6 AS 2201 42 With respect to the issuer's allowance for doubtful accounts the following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the allowance for doubtful accounts at one of the issuer's business units. The firm did not evaluate the review procedures that the control owner 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 6 AS 2201 44 With respect to the issuer's allowance for doubtful accounts the following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's review of the allowance for doubtful accounts at one of the issuer's business units. The firm did not evaluate the review procedures that the control owner 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2201 44 With respect to the issuer's allowance for doubtful accounts the following deficiencies were identified: · The firm's approach for substantively testing the allowance for doubtful accounts at this business unit was to test the issuer's process. The firm did not perform any procedures to evaluate the reasonableness of the significant assumptions the issuer used to develop this allowance. (AS 2501.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 7 AS 2501 16 With respect to the issuer's allowance for doubtful accounts the following deficiencies were identified: · The firm's approach for substantively testing the allowance for doubtful accounts at this business unit was to test the issuer's process. The firm did not perform any procedures to evaluate the reasonableness of the significant assumptions the issuer used to develop this allowance. (AS 2501.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 8 AS 2201 39 With respect to revenue and accounts receivable at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm selected for testing an entity-level control that included the issuer's comparison of forecasts by business unit to actual results including revenue. The firm did not identify and test any controls over the forecasts used in the operation of this control. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 8 AS 2201 39 With respect to revenue and accounts receivable at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm selected for testing an entity-level control that included the issuer's comparison of forecasts by business unit to actual results including revenue. The firm did not identify and test any controls over the forecasts used in the operation of this control. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 9 AS 2301 8 With respect to revenue and accounts receivable at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm did not perform any substantive procedures to test revenue and accounts receivable for these business units. (AS 2301.08) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 8 With respect to revenue and accounts receivable at certain other business units that the firm subjected to less extensive audit procedures the following deficiencies were identified: · The firm did not perform any substantive procedures to test revenue and accounts receivable for these business units. (AS 2301.08) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 10 AS 2201 42 With respect to the issuer's revenue disclosures the following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of certain revenue disclosures but did not test the aspect of the control that addressed the accuracy and completeness of the issuer-prepared schedules used to prepare these disclosures. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 10 AS 2201 44 With respect to the issuer's revenue disclosures the following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of certain revenue disclosures but did not test the aspect of the control that addressed the accuracy and completeness of the issuer-prepared schedules used to prepare these disclosures. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 11 AS 1105 10 With respect to the issuer's revenue disclosures the following deficiencies were identified: · The firm used these issuer-prepared schedules in its substantive testing of these revenue disclosures but did not perform any procedures to test or sufficiently test controls over the accuracy and completeness of these schedules. (AS 1105.10) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 12 AS 2201 42 The firm selected for testing two controls that consisted of the issuer's review of the reserve for excess and obsolete inventory at certain business units. For the first control the firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the significant assumptions that the issuer used to develop this reserve. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 12 AS 2201 44 The firm selected for testing two controls that consisted of the issuer's review of the reserve for excess and obsolete inventory at certain business units. For the first control the firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the significant assumptions that the issuer used to develop this reserve. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 13 AS 2201 39 The firm selected for testing two controls that consisted of the issuer's review of the reserve for excess and obsolete inventory at certain business units. For the second control the firm did not identify and test any controls over the accuracy of certain data that the control owners used in the operation of the control. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 14 AS 2501 16 The firm's approach for substantively testing the reserve for excess and obsolete inventory at these business units was to test the issuer's process. The following deficiencies were identified: · The firm did not perform procedures to evaluate the reasonableness of the significant assumptions that the issuer used to develop this reserve beyond reading an issuer-prepared memorandum. (AS 2501.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 15 AS 1105 10 The firm's approach for substantively testing the reserve for excess and obsolete inventory at these business units was to test the issuer's process. The following deficiencies were identified: · The firm used certain issuer-produced data in its testing of this reserve but did not test or test any controls over the accuracy of these data. (AS 1105.10) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 16 AS 2201 39 Certain of the issuer's inventory was subject to cycle counts and the issuer's cycle-count policy required this inventory to be counted at specific frequencies during the year. The following deficiencies were identified: · The firm did not identify and test any controls that addressed whether each inventory item was counted with sufficient frequency in accordance with the issuer's cycle-count policy. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 17 AS 2201 39 Certain of the issuer's inventory was subject to cycle counts and the issuer's cycle-count policy required this inventory to be counted at specific frequencies during the year. The following deficiencies were identified: · The firm selected for testing a control that consisted of the issuer's monitoring of its cycle count results. The firm did not identify and test any controls over the accuracy and completeness of certain information that the control owners used in the operation of the control. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 18 AS 2201 39 With respect to the issuer's work-in-process inventory at certain business units that the firm subjected to more extensive audit procedures the following deficiencies were identified: · The firm did not identify and test any controls over the existence of this work-in-process inventory. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 19 AS 2301 8 With respect to the issuer's work-in-process inventory at certain business units that the firm subjected to more extensive audit procedures the following deficiencies were identified: · The firm did not perform any procedures to test the existence of this work-in-process inventory. (AS 2301.08) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2810 30 During the year the issuer recognized certain revenue upon its delivery of products to a customer and also delivered additional products to this customer in exchange for the return of products sold to the customer in the previous year. The firm did not identify and evaluate that the issuer's conclusion that certain criteria required to recognize revenue for the products sold to this customer had been met was not in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2810 30 During the year the issuer recognized certain revenue upon its delivery of products to a customer and also delivered additional products to this customer in exchange for the return of products sold to the customer in the previous year. The firm did not identify and evaluate that the issuer's conclusion that the exchange of products did not represent a product return was not in conformity with FASB ASC Topic 606. (AS 2810.30) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2301 8 The issuer entered into arrangements to purchase inventory from certain suppliers. The firm did not evaluate whether these arrangements represented firm purchase commitments for which a loss should have been recognized under FASB ASC Topic 330 Inventory. Further the firm did not evaluate whether these arrangements created an unconditional performance obligation that would have required disclosure under FASB ASC Topic 440 Commitments. (AS 2301.08) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 1 AS 2201 46 The issuer used multiple information technology (IT) systems to initiate process and record transactions related to certain revenue and insurance-related liabilities. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 1 AS 2201 46 The issuer used multiple information technology (IT) systems to initiate process and record transactions related to certain revenue and insurance-related liabilities. In its testing of controls over these accounts the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by these IT systems. As a result of the following deficiencies in the firm's testing of IT general controls the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 2 AS 2201 39 The firm selected for testing a control at three of the issuer's business units that consisted of the issuer's monitoring and review of changes to certain of these IT systems. The following deficiencies were identified: · The firm did not identify and test any controls over the accuracy and completeness of certain system change reports that the control owners used in the operation of this control at all three business units. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 2 AS 2201 39 The firm selected for testing a control at three of the issuer's business units that consisted of the issuer's monitoring and review of changes to certain of these IT systems. The following deficiencies were identified: · The firm did not identify and test any controls over the accuracy and completeness of certain system change reports that the control owners used in the operation of this control at all three business units. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 3 AS 2201 42 The firm selected for testing a control at three of the issuer's business units that consisted of the issuer's monitoring and review of changes to certain of these IT systems. The following deficiencies were identified: · For the control at one of these business units the firm did not evaluate the specific review procedures that the control owner performed to assess whether the system changes were appropriate. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 42 The firm selected for testing a control at three of the issuer's business units that consisted of the issuer's monitoring and review of changes to certain of these IT systems. The following deficiencies were identified: · For the control at one of these business units the firm did not evaluate the specific review procedures that the control owner performed to assess whether the system changes were appropriate. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 3 AS 2201 44 The firm selected for testing a control at three of the issuer's business units that consisted of the issuer's monitoring and review of changes to certain of these IT systems. The following deficiencies were identified: · For the control at one of these business units the firm did not evaluate the specific review procedures that the control owner performed to assess whether the system changes were appropriate. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 44 The firm selected for testing a control at three of the issuer's business units that consisted of the issuer's monitoring and review of changes to certain of these IT systems. The following deficiencies were identified: · For the control at one of these business units the firm did not evaluate the specific review procedures that the control owner performed to assess whether the system changes were appropriate. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 4 AS 1105 10 The firm selected for testing a control at these three business units that consisted of the issuer's approval of changes to these IT systems and testing of those changes prior to implementation into the production environment. The following deficiencies were identified: · The firm used the system change reports discussed above to select its samples for testing this control at all three business units but did not test or test any controls over the completeness of these reports. (AS 1105.10) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 1105 10 The firm selected for testing a control at these three business units that consisted of the issuer's approval of changes to these IT systems and testing of those changes prior to implementation into the production environment. The following deficiencies were identified: · The firm used the system change reports discussed above to select its samples for testing this control at all three business units but did not test or test any controls over the completeness of these reports. (AS 1105.10) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 5 AS 2201 42 The firm selected for testing a control at these three business units that consisted of the issuer's approval of changes to these IT systems and testing of those changes prior to implementation into the production environment. The following deficiencies were identified: · The firm performed certain of its testing of this control at all three business units in the issuer's testing environment rather than in its production environment but did not perform any procedures to determine whether the testing environment was consistent with the production environment. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2201 42 The firm selected for testing a control at these three business units that consisted of the issuer's approval of changes to these IT systems and testing of those changes prior to implementation into the production environment. The following deficiencies were identified: · The firm performed certain of its testing of this control at all three business units in the issuer's testing environment rather than in its production environment but did not perform any procedures to determine whether the testing environment was consistent with the production environment. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 5 AS 2201 44 The firm selected for testing a control at these three business units that consisted of the issuer's approval of changes to these IT systems and testing of those changes prior to implementation into the production environment. The following deficiencies were identified: · The firm performed certain of its testing of this control at all three business units in the issuer's testing environment rather than in its production environment but did not perform any procedures to determine whether the testing environment was consistent with the production environment. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 5 AS 2201 44 The firm selected for testing a control at these three business units that consisted of the issuer's approval of changes to these IT systems and testing of those changes prior to implementation into the production environment. The following deficiencies were identified: · The firm performed certain of its testing of this control at all three business units in the issuer's testing environment rather than in its production environment but did not perform any procedures to determine whether the testing environment was consistent with the production environment. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 6 AS 2301 16 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2301 16 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 6 AS 2301 18 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2301 18 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 6 AS 2301 37 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2301 37 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 6 AS 2315 19 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2315 19 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 6 AS 2315 23 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2315 23 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 6 AS 2315 23A As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 6 AS 2315 23A As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The sample sizes the firm used in certain of its substantive procedures to test revenue at two of these business units 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Insurance-related Liabilities 7 AS 1105 10 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The firm did not perform sufficient procedures to test or sufficiently test controls over the completeness of certain system-generated data or reports that the firm used in its substantive testing of insurance-related liabilities at one of these business units. (AS 1105.10) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 7 AS 1105 10 As a result of the firm's control testing deficiencies discussed above the firm did not perform sufficient substantive procedures as follows: · The firm did not perform sufficient procedures to test or sufficiently test controls over the completeness of certain system-generated data or reports that the firm used in its substantive testing of insurance-related liabilities at one of these business units. (AS 1105.10) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 1 AS 2201 39 For revenue at one of the issuer's segments the firm did not identify and test any controls over the accuracy and completeness of certain customer order data that were entered or transferred into the issuer's systems and used to recognize revenue. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 39 For revenue at one of the issuer's segments the firm did not identify and test any controls over the accuracy and completeness of certain customer order data that were entered or transferred into the issuer's systems and used to recognize revenue. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2301 16 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 16 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2301 18 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 18 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2301 37 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 37 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2315 19 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 19 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2315 23 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 23 The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Accounts Receivable 2 AS 2315 23A The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2315 23A The sample sizes the firm used in its substantive procedures to test revenue and accounts receivable at this segment 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 due to the deficiency in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2201 39 With respect to certain of the issuer's disclosures related to revenue the following deficiencies were identified: · The firm selected for testing a control that included the issuer's review of its financial statement disclosures. The firm did not identify and test any controls over the accuracy and completeness of certain issuer-prepared schedules related to revenue that the control owners used in the operation of this control. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 With respect to certain of the issuer's disclosures related to revenue the following deficiencies were identified: · The firm used these issuer-prepared schedules in its substantive testing of these revenue disclosures but did not perform any procedures to test or test any controls over the accuracy and completeness of these schedules. (AS 1105.10) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory 5 AS 2201 39 Certain inventory at one of the issuer's segments was subject to cycle counts and the issuer's cycle-count policy required this inventory to be counted at specific frequencies during the year. The firm did not identify and test any controls that addressed (1) whether each inventory item was counted with sufficient frequency in accordance with the issuer's cycle count policy and (2) the issuer's monitoring of the accuracy of the cycle-count results. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's reviews of the ACL. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the ACL including the significant assumptions used. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's reviews of the ACL. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of the ACL including the significant assumptions used. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2201 39 The firm did not identify and test any controls over the accuracy and completeness of certain data that the control owners used in the operation of the control. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 42 The issuer recognized certain revenue based on customer contracts that included financing arrangements with the customer. The firm selected for testing a control over this revenue that consisted of the issuer's review and approval of the credit application supporting the customer's ability and intent to pay. The firm did not evaluate the specific review procedures that the control owners performed to assess whether the customer contracts had met the collectability criteria before revenue was recognized. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 3 AS 2201 44 The issuer recognized certain revenue based on customer contracts that included financing arrangements with the customer. The firm selected for testing a control over this revenue that consisted of the issuer's review and approval of the credit application supporting the customer's ability and intent to pay. The firm did not evaluate the specific review procedures that the control owners performed to assess whether the customer contracts had met the collectability criteria before revenue was recognized. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A E No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue 4 AS 2301 8 The firm's substantive procedures to test this revenue consisted of selecting a sample of transactions for testing. The firm did not evaluate whether these transactions had met the collectability criteria before revenue was recognized beyond reviewing the customer's credit application. (AS 2301.08) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Inventory 1 AS 2510 14 The issuer held certain inventory at external warehouses. The firm did not perform any procedures to test the existence of this inventory. (AS 2510.14) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Inventory 2 AS 2501 16 The issuer classified inventory as current or noncurrent based on its estimate of when it expected to sell the inventory. The firm's approach for substantively testing this estimate was to test the issuer's process. The firm did not perform procedures to evaluate the reasonableness of the significant assumptions that the issuer used to develop this estimate. (AS 2501.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2810 30 The firm did not identify and evaluate a misstatement in a required disclosure under FASB ASC Topic 230 Statement of Cash Flows. (AS 2810.30 and .31) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Inventory 3 AS 2810 31 The firm did not identify and evaluate a misstatement in a required disclosure under FASB ASC Topic 230 Statement of Cash Flows. (AS 2810.30 and .31) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Inventory 1 AS 2201 39 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer held inventory at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to more extensive audit procedures. The following deficiencies were identified: · Inventory at one of these business units was subject to cycle counts and the issuer used its IT system to determine the frequency with which the items should be counted during the year by assigning a count designation to each inventory item. The firm did not identify and test any controls that addressed whether (1) the issuer's IT system was configured to assign an appropriate count designation to each inventory item and (2) each inventory item was counted with sufficient frequency in accordance with the designated count frequency. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Inventory 2 AS 2201 68 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer held inventory at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to more extensive audit procedures. The following deficiencies were identified: · For a second of these business units the firm identified control deficiencies related to the issuer's cycle counts performed at certain locations including the lack of monitoring of whether the cycle-count results were sufficiently accurate. The firm identified and tested compensating controls that it believed mitigated these deficiencies but did not identify that these compensating controls did not address the accuracy of the cycle-counts results. (AS 2201.68) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Inventory 3 AS 2201 39 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer held inventory at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to more extensive audit procedures. The following deficiencies were identified: · For a third of these business units the firm selected for testing controls over the existence of inventory that included the control owners' use of various system-generated reports in the operation of the controls. The firm did not identify and test any controls that addressed the risk that unauthorized or inappropriate changes could be made to these reports. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2201 42 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer recorded transactions related to revenue at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to less extensive audit procedures. To address the risks of material misstatement related to revenue for these business units the firm selected for testing various entity-level controls. The following deficiencies were identified: · For one segment the firm selected for testing controls that consisted of the issuer's reviews of the forecasts that were used in its entity-level controls over this segment including the assumptions used in these forecasts. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2201 44 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer recorded transactions related to revenue at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to less extensive audit procedures. To address the risks of material misstatement related to revenue for these business units the firm selected for testing various entity-level controls. The following deficiencies were identified: · For one segment the firm selected for testing controls that consisted of the issuer's reviews of the forecasts that were used in its entity-level controls over this segment including the assumptions used in these forecasts. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of these assumptions. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2201 42 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer recorded transactions related to revenue at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to less extensive audit procedures. To address the risks of material misstatement related to revenue for these business units the firm selected for testing various entity-level controls. The following deficiencies were identified: · For a second segment the firm selected for testing a control that consisted of the issuer's monthly comparisons of prior-period results to current-period results. The firm did not evaluate the specific review procedures that the control owners performed to determine whether items identified for follow up had been appropriately resolved. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2201 44 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer recorded transactions related to revenue at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to less extensive audit procedures. To address the risks of material misstatement related to revenue for these business units the firm selected for testing various entity-level controls. The following deficiencies were identified: · For a second segment the firm selected for testing a control that consisted of the issuer's monthly comparisons of prior-period results to current-period results. The firm did not evaluate the specific review procedures that the control owners performed to determine whether items identified for follow up had been appropriately resolved. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2201 42 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer recorded transactions related to revenue at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to less extensive audit procedures. To address the risks of material misstatement related to revenue for these business units the firm selected for testing various entity-level controls. The following deficiencies were identified: · For a third segment the firm selected for testing a control that consisted of the issuer's quarterly comparisons of prior-period results to current-period results. The firm 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A G No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 6 AS 2201 44 The firm's internal inspection program had inspected this audit reviewed these areas and also identified the deficiencies below. The issuer recorded transactions related to revenue at numerous business units. The firm subjected certain of the issuer's business units that were included within three of the issuer's segments to less extensive audit procedures. To address the risks of material misstatement related to revenue for these business units the firm selected for testing various entity-level controls. The following deficiencies were identified: · For a third segment the firm selected for testing a control that consisted of the issuer's quarterly comparisons of prior-period results to current-period results. The firm 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) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets Significant Risk 1 AS 2201 42 The issuer performed quantitative assessments of the possible impairment of its intangible assets at an interim date and at year end using cash-flow forecasts. The firm selected for testing a control that consisted of the issuer's review of these cash-flow forecasts. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain assumptions the issuer used in these forecasts. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets Significant Risk 1 AS 2201 44 The issuer performed quantitative assessments of the possible impairment of its intangible assets at an interim date and at year end using cash-flow forecasts. The firm selected for testing a control that consisted of the issuer's review of these cash-flow forecasts. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain assumptions the issuer used in these forecasts. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets Significant Risk 2 AS 2501 16 The firm's approach for substantively testing the issuer's impairment assessments was to test the issuer's process. The following deficiencies were identified: · For the interim impairment assessment the firm did not sufficiently evaluate the reasonableness of certain significant assumptions because its procedures were limited to inquiring of management and evaluating these assumptions for consistency with the issuer's historical or recent experience. (AS 2501.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A H No Both financial statement and ICFR audits Audits with multiple deficiencies Intangible Assets Significant Risk 3 AS 2501 16 The firm's approach for substantively testing the issuer's impairment assessments was to test the issuer's process. The following deficiencies were identified: · For the year-end impairment assessment the firm did not sufficiently evaluate the reasonableness of certain significant assumptions because it did not evaluate the significant differences between these assumptions and the industry information it had obtained. Further the firm did not perform any procedures to evaluate the reasonableness of certain other significant assumptions. (AS 2501.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Payroll Expenses 1 AS 2201 39 The firm selected for testing various controls over payroll expenses but did not identify and test any controls over the accuracy of certain payroll data including employee headcount and cost-center data that were used in the operation of these controls. (AS 2201.39) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Payroll Expenses 2 AS 2305 16 The firm's substantive procedures to test payroll expenses included performing substantive analytical procedures. The firm used employee headcount data produced by the issuer to develop its expectations but did not test or test any controls over the accuracy of these data. (AS 2305.16) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A I No Both financial statement and ICFR audits Audits with multiple deficiencies Payroll Expenses 3 AS 2301 8 The issuer allocated its payroll costs to the various types of expenses it reported based on the cost centers to which its employees were assigned. The firm did not perform any substantive procedures to test whether the issuer's allocation of certain of these payroll costs was appropriate. (AS 2301.08) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with a single deficiency Going Concern Significant Risk 1 AS 1105 4 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not evaluate the relevance and reliability of certain forecasted financial information that was particularly significant to those plans. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with a single deficiency Going Concern Significant Risk 1 AS 1105 6 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not evaluate the relevance and reliability of certain forecasted financial information that was particularly significant to those plans. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with a single deficiency Going Concern Significant Risk 1 AS 2415 3 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not evaluate the relevance and reliability of certain forecasted financial information that was particularly significant to those plans. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with a single deficiency Going Concern Significant Risk 1 AS 2415 8 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not evaluate the relevance and reliability of certain forecasted financial information that was particularly significant to those plans. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A J No Financial statement audit only Audits with a single deficiency Going Concern Significant Risk 1 AS 2415 9 The issuer used forecasted financial information in its evaluation of its ability to continue as a going concern and concluded that the substantial doubt was alleviated by its plans. In evaluating management's plans the firm did not evaluate the relevance and reliability of certain forecasted financial information that was particularly significant to those plans. (AS 1105.04 and .06; AS 2415.03 .08 and .09) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with a single deficiency Allowance for Credit Losses Significant Risk 1 AS 2201 42 The firm selected for testing a control that consisted of the issuer's review of the appropriateness of the ACL but did not test the aspect of the control that addressed the accuracy and completeness of information that was included in an issuer-prepared memorandum that the control owners used in the operation of this control. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A K No ICFR audit only Audits with a single deficiency Allowance for Credit Losses Significant Risk 1 AS 2201 44 The firm selected for testing a control that consisted of the issuer's review of the appropriateness of the ACL but did not test the aspect of the control that addressed the accuracy and completeness of information that was included in an issuer-prepared memorandum that the control owners used in the operation of this control. (AS 2201.42 and .44) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A L No Financial statement audit only Audits with a single deficiency Intangible Assets 1 AS 2501 7 The issuer performed a quantitative assessment of the possible impairment of certain intangible assets. The firm did not perform any substantive procedures to test this assessment. (AS 2501.07) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A M No Financial statement audit only Audits with a single deficiency Inventory 1 AS 2810 30 During the year the issuer completed numerous nonmonetary exchanges of inventory with various counterparties. The firm did not identify and evaluate the issuer's omission of certain disclosures related to these nonmonetary exchanges that were required under FASB ASC Topic 845 Nonmonetary Transactions. (AS 2810.30 and .31) Annually Inspected 248 Grant Thornton LLP 2024 United States Grant Thornton International Limited 2025-02-26T00:00:00 Part I.A M No Financial statement audit only Audits with a single deficiency Inventory 1 AS 2810 31 During the year the issuer completed numerous nonmonetary exchanges of inventory with various counterparties. The firm did not identify and evaluate the issuer's omission of certain disclosures related to these nonmonetary exchanges that were required under FASB ASC Topic 845 Nonmonetary Transactions. (AS 2810.30 and .31) Triennially Inspected 317 Freed Maxick CPAs, P.C. 2024 United States 2025-01-30T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 2201 39 During the year the issuer acquired a business and engaged an external specialist to determine the fair value of the acquired intangible assets. The firm selected for testing a control that consisted of the issuer's review of the company's specialist report. The firm did not identify and test any controls over the reasonableness of certain assumptions provided by management to the company's specialist and used by the specialist in the determination of the fair value of the acquired intangible assets included in its report. (AS 2201.39) Triennially Inspected 317 Freed Maxick CPAs, P.C. 2024 United States 2025-01-30T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2201 42 The firm selected for testing a control that consisted of the review of journal entries. The firm did not sufficiently test the design and operating effectiveness of this control because its procedures to evaluate whether the control operators reviewing journal entries were different from the individuals preparing journal entries were limited to obtaining from management a listing of individuals who can prepare journal entries without testing the completeness of this listing. (AS 2201.42 and .44) Triennially Inspected 317 Freed Maxick CPAs, P.C. 2024 United States 2025-01-30T00:00:00 Part I.A A No ICFR audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2201 44 The firm selected for testing a control that consisted of the review of journal entries. The firm did not sufficiently test the design and operating effectiveness of this control because its procedures to evaluate whether the control operators reviewing journal entries were different from the individuals preparing journal entries were limited to obtaining from management a listing of individuals who can prepare journal entries without testing the completeness of this listing. (AS 2201.42 and .44) Triennially Inspected 483 HoganTaylor LLP 2024 United States 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2305 17 The firm's substantive procedures to test two types of revenue consisted of performing analytical procedures and testing a sample of transactions. The following deficiency was identified: · With respect to the substantive analytical procedure for the first type of revenue the firm did not develop expectations that were sufficiently precise to identify potential material misstatements because it did not consider factors that significantly affected the amounts being audited. (AS 2305.17) Triennially Inspected 483 HoganTaylor LLP 2024 United States 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2305 21 The firm's substantive procedures to test two types of revenue consisted of performing analytical procedures and testing a sample of transactions. The following deficiency was identified: · With respect to the substantive analytical procedure for the second type of revenue the firm identified differences in excess of the firm's established threshold but did not evaluate these differences beyond inquiring of management. (AS 2305.21) Triennially Inspected 483 HoganTaylor LLP 2024 United States 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 The firm's substantive procedures to test two types of revenue consisted of performing analytical procedures and testing a sample of transactions. The following deficiency was identified: · The firm selected a sample of transactions to perform its test of details over the first type of revenue. The firm did not perform procedures to test whether the issuer met the performance obligation prior to the recognition of revenue for certain transactions. (AS 2301.08) Triennially Inspected 483 HoganTaylor LLP 2024 United States 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Payable Fraud Risk 4 AS 1105 10 The firm did not perform procedures to test or identify and test controls over the completeness of certain transactions included in a system-generated report that it used in its substantive procedures. (AS 1105.10) Triennially Inspected 483 HoganTaylor LLP 2024 United States 2025-01-30T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 4 The firm's substantive procedures to test revenue included analytical procedures. The firm developed its expectation for its analytical procedures using recorded amounts of revenue. The firm did not evaluate whether this data was sufficiently relevant and reliable for purposes of achieving its audit objectives. (AS 1105.04 and .06; AS 2305.16) Triennially Inspected 483 HoganTaylor LLP 2024 United States 2025-01-30T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 6 The firm's substantive procedures to test revenue included analytical procedures. The firm developed its expectation for its analytical procedures using recorded amounts of revenue. The firm did not evaluate whether this data was sufficiently relevant and reliable for purposes of achieving its audit objectives. (AS 1105.04 and .06; AS 2305.16) Triennially Inspected 483 HoganTaylor LLP 2024 United States 2025-01-30T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2305 16 The firm's substantive procedures to test revenue included analytical procedures. The firm developed its expectation for its analytical procedures using recorded amounts of revenue. The firm did not evaluate whether this data was sufficiently relevant and reliable for purposes of achieving its audit objectives. (AS 1105.04 and .06; AS 2305.16) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Equity 1 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer not accounting for certain redeemable shares outside of permanent equity in conformity with FASB ASC Topic 480 Distinguishing Liabilities from Equity. (AS 2810.30) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 2 AS 2501 16 During the year the issuer identified indicators of possible impairment for certain of its goodwill and intangible assets and performed a quantitative assessment using a discounted cash flow model to test the associated reporting unit for recoverability. The firm's approach for substantively testing goodwill and intangible assets for impairment was to test the issuer's process used to assess the recoverability of the reporting unit. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the significant assumptions related to revenue growth projections used in the recoverability test including taking into account the issuer's intent and ability to achieve the assumed revenue growth rates beyond inquiry obtaining and reviewing certain customer proposals and performing a sensitivity analysis. (AS 2501.16 and .17) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 2 AS 2501 17 During the year the issuer identified indicators of possible impairment for certain of its goodwill and intangible assets and performed a quantitative assessment using a discounted cash flow model to test the associated reporting unit for recoverability. The firm's approach for substantively testing goodwill and intangible assets for impairment was to test the issuer's process used to assess the recoverability of the reporting unit. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the significant assumptions related to revenue growth projections used in the recoverability test including taking into account the issuer's intent and ability to achieve the assumed revenue growth rates beyond inquiry obtaining and reviewing certain customer proposals and performing a sensitivity analysis. (AS 2501.16 and .17) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 3 AS 2501 16 During the year the issuer identified indicators of possible impairment for certain of its goodwill and intangible assets and performed a quantitative assessment using a discounted cash flow model to test the associated reporting unit for recoverability. The firm's approach for substantively testing goodwill and intangible assets for impairment was to test the issuer's process used to assess the recoverability of the reporting unit. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reasonableness of a company-specific risk premium included as a part of the significant assumption related to the discount rate used by the issuer in its recoverability test. (AS 2501.16) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 4 AS 2501 16 During the year the issuer identified indicators of possible impairment for certain of its goodwill and intangible assets and performed a quantitative assessment using a discounted cash flow model to test the associated reporting unit for recoverability. The firm's approach for substantively testing goodwill and intangible assets for impairment was to test the issuer's process used to assess the recoverability of the reporting unit. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reasonableness of the significant assumption related to the terminal growth rate used by the issuer in its recoverability test. (AS 2501.16) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Goodwill and Intangible Assets Significant Risk 5 AS 2501 10 During the year the issuer identified indicators of possible impairment for certain of its goodwill and intangible assets and performed a quantitative assessment using a discounted cash flow model to test the associated reporting unit for recoverability. The firm's approach for substantively testing goodwill and intangible assets for impairment was to test the issuer's process used to assess the recoverability of the reporting unit. The following deficiency was identified: · The firm did not perform procedures to evaluate whether the issuer's method to assess its goodwill and intangible assets for impairment was in conformity with FASB ASC Topic 350 Intangibles — Goodwill and Other. (AS 2501.10) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Assets Fraud Risk 6 AS 2501 7 The issuer entered into an agreement with an external party pursuant to which it was to among other things make certain advance payments including common stock and preferred shares to the external party prior to the completion of the transaction which occurred after the year under audit. The following deficiency was identified: · The firm did not perform any procedures to test the fair value of common stock and preferred shares that had been transferred and recorded as a part of the advance payments including consideration of certain contrary evidence regarding the trading value of the issuer's common stock. (AS 2501.07; AS 2810.03) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Assets Fraud Risk 6 AS 2810 3 The issuer entered into an agreement with an external party pursuant to which it was to among other things make certain advance payments including common stock and preferred shares to the external party prior to the completion of the transaction which occurred after the year under audit. The following deficiency was identified: · The firm did not perform any procedures to test the fair value of common stock and preferred shares that had been transferred and recorded as a part of the advance payments including consideration of certain contrary evidence regarding the trading value of the issuer's common stock. (AS 2501.07; AS 2810.03) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Assets Fraud Risk 7 AS 2301 8 The issuer entered into an agreement with an external party pursuant to which it was to among other things make certain advance payments including common stock and preferred shares to the external party prior to the completion of the transaction which occurred after the year under audit. The following deficiency was identified: · The firm did not perform procedures to evaluate whether the presentation and disclosure of the advance payments was in conformity with GAAP. (AS 2301.08) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Other Assets Fraud Risk 8 AS 2401 67 The issuer entered into an agreement with an external party pursuant to which it was to among other things make certain advance payments including common stock and preferred shares to the external party prior to the completion of the transaction which occurred after the year under audit. The following deficiency was identified: · The firm did not evaluate the business purpose (or lack thereof) of the transaction including whether it may have been entered into to engage in fraudulent financial reporting or conceal misappropriation of assets. (AS 2401.67) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 8 The issuer recognized certain revenue pursuant to contracts with new customers. The firm did not perform procedures to evaluate whether these customer contracts met the collectability criteria required to recognize revenue. (AS 2301.08 and .13) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 9 AS 2301 13 The issuer recognized certain revenue pursuant to contracts with new customers. The firm did not perform procedures to evaluate whether these customer contracts met the collectability criteria required to recognize revenue. (AS 2301.08 and .13) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 10 AS 2301 8 The issuer recognized certain other revenue pursuant to a contract with an external party through which it agreed to provide services in exchange for noncash consideration. The firm did not perform procedures to evaluate whether the issuer recognized this revenue in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 10 AS 2301 13 The issuer recognized certain other revenue pursuant to a contract with an external party through which it agreed to provide services in exchange for noncash consideration. The firm did not perform procedures to evaluate whether the issuer recognized this revenue in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Variable Interest Entities 11 AS 1105 A10 The issuer derives revenue through consolidated VIEs and relies on contractual arrangements with the VIEs and their shareholders to control the business operations of the consolidated VIEs. The issuer engaged an external specialist to provide a legal opinion regarding the issuer's consolidated VIEs including the validity and enforceability of contractual arrangements with the VIEs and their shareholders and the firm used the work of the company's specialist as audit evidence. The firm did not sufficiently evaluate the relevance and reliability of the work performed by the company's specialist and whether the specialist's findings support or contradict the issuer's rights and obligations related to the consolidation of the VIEs because it did not evaluate the nature of uncertainties described in the legal opinion prepared by the company's specialist and perform additional procedures to address the risks associated with those uncertainties. (AS 1105.A9 and .A10) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Variable Interest Entities 11 AS 1105 A9 The issuer derives revenue through consolidated VIEs and relies on contractual arrangements with the VIEs and their shareholders to control the business operations of the consolidated VIEs. The issuer engaged an external specialist to provide a legal opinion regarding the issuer's consolidated VIEs including the validity and enforceability of contractual arrangements with the VIEs and their shareholders and the firm used the work of the company's specialist as audit evidence. The firm did not sufficiently evaluate the relevance and reliability of the work performed by the company's specialist and whether the specialist's findings support or contradict the issuer's rights and obligations related to the consolidation of the VIEs because it did not evaluate the nature of uncertainties described in the legal opinion prepared by the company's specialist and perform additional procedures to address the risks associated with those uncertainties. (AS 1105.A9 and .A10) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Deferred Revenue Fraud Risk 1 AS 1105 10 The firm selected for testing certain controls that consisted of the issuer's reviews of revenue and deferred revenue. The firm did not perform procedures to test or test any controls over the completeness of the system-generated reports from which it made its selections to test certain of these controls. (AS 1105.10) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The firm selected for testing certain controls that consisted of the issuer's reviews of revenue and deferred revenue. The firm did not perform procedures to test or test any controls over the completeness of the system-generated reports from which it made its selections to test certain of these controls. (AS 1105.10) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Deferred Revenue Fraud Risk 2 AS 2201 42 The firm selected for testing certain controls that consisted of the issuer's reviews of revenue and deferred revenue. For one of these controls the firm 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 42 The firm selected for testing certain controls that consisted of the issuer's reviews of revenue and deferred revenue. For one of these controls the firm 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Deferred Revenue Fraud Risk 2 AS 2201 44 The firm selected for testing certain controls that consisted of the issuer's reviews of revenue and deferred revenue. For one of these controls the firm 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 44 The firm selected for testing certain controls that consisted of the issuer's reviews of revenue and deferred revenue. For one of these controls the firm 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Real Estate Investment Properties Significant Risk 3 AS 2201 42 The issuer reported real estate investment properties including properties under development and performed an annual assessment of the properties for impairment. The following deficiency was identified: · The firm selected for testing a control that consisted of the issuer's review of the annual assessment of real estate investment properties for potential impairment. The firm did not evaluate the review procedures that the control owner(s) 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Real Estate Investment Properties Significant Risk 3 AS 2201 44 The issuer reported real estate investment properties including properties under development and performed an annual assessment of the properties for impairment. The following deficiency was identified: · The firm selected for testing a control that consisted of the issuer's review of the annual assessment of real estate investment properties for potential impairment. The firm did not evaluate the review procedures that the control owner(s) 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Real Estate Investment Properties Significant Risk 4 AS 1105 10 The issuer reported real estate investment properties including properties under development and performed an annual assessment of the properties for impairment. The following deficiency was identified: · The firm selected for testing certain other controls that consisted of the issuer's recording and approval of transactions associated with the construction of real estate investment properties. For certain of the controls tested the firm did not perform procedures to test or test any controls over the completeness of system-generated reports from which it made its selections to test these controls. (AS 1105.10) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Real Estate Investment Properties Significant Risk 5 AS 2201 42 The issuer reported real estate investment properties including properties under development and performed an annual assessment of the properties for impairment. The following deficiency was identified: · The firm selected for testing certain other controls that consisted of the issuer's recording and approval of transactions associated with the construction of real estate investment properties. For one of these controls that included the issuer's review of construction in progress the firm 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Real Estate Investment Properties Significant Risk 5 AS 2201 44 The issuer reported real estate investment properties including properties under development and performed an annual assessment of the properties for impairment. The following deficiency was identified: · The firm selected for testing certain other controls that consisted of the issuer's recording and approval of transactions associated with the construction of real estate investment properties. For one of these controls that included the issuer's review of construction in progress the firm 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) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Real Estate Investment Properties Significant Risk 6 AS 2201 B8 The issuer reported real estate investment properties including properties under development and performed an annual assessment of the properties for impairment. The following deficiency was identified: · The firm did not evaluate whether certain misstatements it identified related to real estate investment properties including properties under development should have had an effect on the firm's conclusions about the effectiveness of the issuer's controls over these assets. (AS 2201.68) Triennially Inspected 844 Moore CPA Limited 2024 Hong Kong 2025-01-30T00:00:00 Part I.A B No ICFR audit only Audits with multiple deficiencies Related Party Transactions 7 AS 2201 39 The firm selected for testing a control that consisted of the issuer's reconciliation of related party balances and transactions. The firm did not identify and test any controls over the completeness of a system-generated report used in the operation of this control. (AS 2201.39) Triennially Inspected 3686 Adeptus Partners LLC 2024 United States 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Securities 1 AS 2810 30 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain disclosures related to investment securities required by FASB ASC Topic 825 Financial Instruments. (AS 2810.30 and .31) Triennially Inspected 3686 Adeptus Partners LLC 2024 United States 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Investment Securities 1 AS 2810 31 The firm did not identify and evaluate departures from GAAP related to the issuer's omission of certain disclosures related to investment securities required by FASB ASC Topic 825 Financial Instruments. (AS 2810.30 and .31) Triennially Inspected 3686 Adeptus Partners LLC 2024 United States 2025-01-30T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Going Concern 2 AS 2415 3 During the year under audit the firm identified conditions and events that caused it to believe there could be substantial doubt about the issuer's ability to continue as a going concern for a reasonable period of time and concluded that the substantial doubt was alleviated. The firm did not sufficiently evaluate management's plans because it did not assess the likelihood that the issuer could obtain additional funding and complete a business combination. (AS 2415.03) Triennially Inspected 3686 Adeptus Partners LLC 2024 United States 2025-01-30T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Securities 1 AS 2810 30 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure related to investment securities required by FASB ASC Topic 825. (AS 2810.30 and .31) Triennially Inspected 3686 Adeptus Partners LLC 2024 United States 2025-01-30T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Investment Securities 1 AS 2810 31 The firm did not identify and evaluate a departure from GAAP related to the issuer's omission of a disclosure related to investment securities required by FASB ASC Topic 825. (AS 2810.30 and .31) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 1 AS 2201 46 The issuer used an information technology (IT) system at one component to initiate process and record certain revenue transactions. In its testing of controls over this revenue the firm tested various automated and IT-dependent manual controls that used data and reports generated or maintained by this IT system. The accuracy and completeness of these data and reports depended on effective IT general controls (ITGCs). As a result of the following deficiencies in the firm's testing of change management ITGCs the firm's testing of these automated and IT-dependent manual controls was not sufficient. (AS 2201.46) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 2 AS 1105 10 The firm selected for testing two change management controls over this IT system that consisted of the (1) restricting of access to deploy system changes into the production environment to authorized personnel and (2) documentation review testing and approval of system changes prior to their migration into the production environment. The issuer documented the system changes in tickets that were entered into a change ticket tracking system. The following deficiency was identified: · The firm did not perform sufficient procedures to test or test any controls over the completeness of the population of changes from which it made its selections for testing these controls because it limited its procedures to obtaining listings of change tickets from the change ticket tracking system without contemplating potential changes that were not captured in that system. (AS 1105.10) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 3 AS 2201 42 The firm selected for testing two change management controls over this IT system that consisted of the (1) restricting of access to deploy system changes into the production environment to authorized personnel and (2) documentation review testing and approval of system changes prior to their migration into the production environment. The issuer documented the system changes in tickets that were entered into a change ticket tracking system. The following deficiency was identified: · The firm did not test an aspect of the first control related to the segregation of duties between system change developers and deployers. (AS 2201.42 and .44) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 3 AS 2201 44 The firm selected for testing two change management controls over this IT system that consisted of the (1) restricting of access to deploy system changes into the production environment to authorized personnel and (2) documentation review testing and approval of system changes prior to their migration into the production environment. The issuer documented the system changes in tickets that were entered into a change ticket tracking system. The following deficiency was identified: · The firm did not test an aspect of the first control related to the segregation of duties between system change developers and deployers. (AS 2201.42 and .44) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2301 16 The sample sizes the firm used in certain of its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2301 18 The sample sizes the firm used in certain of its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2301 37 The sample sizes the firm used in certain of its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2315 19 The sample sizes the firm used in certain of its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2315 23 The sample sizes the firm used in certain of its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 4 AS 2315 23A The sample sizes the firm used in certain of its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because these procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 5 AS 2201 68 The issuer used a different IT system at another component which was an outsourced application to initiate process and record revenue transactions. The firm inspected the related service auditor's report for this system and noted that the accuracy and completeness of standard reports generated from this system were addressed through certain ITGCs over the system that were tested by the service auditor. The service auditor's report however did not specifically identify the standard reports that were addressed through these ITGC's. For certain revenue transactions invoices were generated and revenue was recognized once the order fulfillment status in the system indicated that the orders had been fulfilled. The following deficiency was identified: · The firm selected for testing controls over this revenue that consisted of (1) management's review and approval of sales orders created in this IT system and (2) management's review of new prices and changes to existing prices before those prices and changes were uploaded into this IT system. The firm identified deficiencies in the design and operating effectiveness of these controls. The firm identified and tested compensating controls that it believed would mitigate the deficiencies. The firm did not identify that these compensating controls did not address the risks of material misstatement related to inaccurate and unauthorized sales orders and prices related to this revenue. (AS 2201.68) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 6 AS 2201 39 The issuer used a different IT system at another component which was an outsourced application to initiate process and record revenue transactions. The firm inspected the related service auditor's report for this system and noted that the accuracy and completeness of standard reports generated from this system were addressed through certain ITGCs over the system that were tested by the service auditor. The service auditor's report however did not specifically identify the standard reports that were addressed through these ITGC's. For certain revenue transactions invoices were generated and revenue was recognized once the order fulfillment status in the system indicated that the orders had been fulfilled. The following deficiency was identified: · The firm did not identify and test any controls that would address risks associated with improper revenue recognition from certain sales. (AS 2201.39) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 7 AS 2201 39 The issuer used a different IT system at another component which was an outsourced application to initiate process and record revenue transactions. The firm inspected the related service auditor's report for this system and noted that the accuracy and completeness of standard reports generated from this system were addressed through certain ITGCs over the system that were tested by the service auditor. The service auditor's report however did not specifically identify the standard reports that were addressed through these ITGC's. For certain revenue transactions invoices were generated and revenue was recognized once the order fulfillment status in the system indicated that the orders had been fulfilled. The following deficiency was identified: · The firm did not identify and test any controls over the accuracy of the fulfillment status in this IT system. (AS 2201.39) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 8 AS 2201 42 The issuer used a different IT system at another component which was an outsourced application to initiate process and record revenue transactions. The firm inspected the related service auditor's report for this system and noted that the accuracy and completeness of standard reports generated from this system were addressed through certain ITGCs over the system that were tested by the service auditor. The service auditor's report however did not specifically identify the standard reports that were addressed through these ITGC's. For certain revenue transactions invoices were generated and revenue was recognized once the order fulfillment status in the system indicated that the orders had been fulfilled. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of a sales discounts/rebates analysis workbook and the related journal entry to record the sales discounts/rebates. The firm did not perform sufficient procedures to test the accuracy and completeness of the revenue report which was used in the operation of this control because it did not perform procedures to verify that it was a standard report within the scope of the service auditor's report beyond inquires of management. (AS 2201.42) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 9 AS 2301 8 The issuer used a different IT system at another component which was an outsourced application to initiate process and record revenue transactions. The firm inspected the related service auditor's report for this system and noted that the accuracy and completeness of standard reports generated from this system were addressed through certain ITGCs over the system that were tested by the service auditor. The service auditor's report however did not specifically identify the standard reports that were addressed through these ITGC's. For certain revenue transactions invoices were generated and revenue was recognized once the order fulfillment status in the system indicated that the orders had been fulfilled. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate whether certain revenue was recognized in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers ('ASC 606') because at the time revenue was recognized for certain transactions the firm did not obtain any evidence that a legally enforceable contract existed or that the performance obligation was satisfied. (AS 2301.08 and .11) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 9 AS 2301 11 The issuer used a different IT system at another component which was an outsourced application to initiate process and record revenue transactions. The firm inspected the related service auditor's report for this system and noted that the accuracy and completeness of standard reports generated from this system were addressed through certain ITGCs over the system that were tested by the service auditor. The service auditor's report however did not specifically identify the standard reports that were addressed through these ITGC's. For certain revenue transactions invoices were generated and revenue was recognized once the order fulfillment status in the system indicated that the orders had been fulfilled. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate whether certain revenue was recognized in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers ('ASC 606') because at the time revenue was recognized for certain transactions the firm did not obtain any evidence that a legally enforceable contract existed or that the performance obligation was satisfied. (AS 2301.08 and .11) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 10 AS 2810 30 The issuer used a different IT system at another component which was an outsourced application to initiate process and record revenue transactions. The firm inspected the related service auditor's report for this system and noted that the accuracy and completeness of standard reports generated from this system were addressed through certain ITGCs over the system that were tested by the service auditor. The service auditor's report however did not specifically identify the standard reports that were addressed through these ITGC's. For certain revenue transactions invoices were generated and revenue was recognized once the order fulfillment status in the system indicated that the orders had been fulfilled. The following deficiency was identified: · The firm did not identify and evaluate a departure from GAAP related to the issuer's recognition of certain revenue. In this instance the issuer's recognition of revenue appears not to have been in conformity with ASC 606. (AS 2810.30) Unrelated to our review the issuer filed a Form 8-K indicating that its previously issued financial statements and the firm's related audit reports should not be relied upon because of certain material misstatements contained in the financial statements. The issuer corrected the misstatements and reported that its ICFR was not effective. The firm also expressed an adverse opinion on the effectiveness of the issuer's ICFR. Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities Significant Risk 11 AS 2201 42 The issuer engaged an external specialist to assist in determining the fair value of a liability. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its report ('liability valuation report'). The firm used an auditor-employed specialist to assist it with testing the valuation of this liability. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the fair value of the liability as determined by the company's specialist. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain significant assumptions the company's specialist used to determine the fair value of the liability. Further for one quarter tested the firm did not test an aspect of the control related to the control owner's review of the formulas used in the valuation models prepared by the company's specialist. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities Significant Risk 11 AS 2201 44 The issuer engaged an external specialist to assist in determining the fair value of a liability. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its report ('liability valuation report'). The firm used an auditor-employed specialist to assist it with testing the valuation of this liability. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the fair value of the liability as determined by the company's specialist. The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain significant assumptions the company's specialist used to determine the fair value of the liability. Further for one quarter tested the firm did not test an aspect of the control related to the control owner's review of the formulas used in the valuation models prepared by the company's specialist. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities Significant Risk 12 AS 1201 C6 The issuer engaged an external specialist to assist in determining the fair value of a liability. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its report ('liability valuation report'). The firm used an auditor-employed specialist to assist it with testing the valuation of this liability. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the valuation of the liability because the auditor-employed specialist did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions used by the company's specialist to determine the fair value of the liability as described below. (AS 1201.C6 and .C7) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities Significant Risk 12 AS 1201 C7 The issuer engaged an external specialist to assist in determining the fair value of a liability. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its report ('liability valuation report'). The firm used an auditor-employed specialist to assist it with testing the valuation of this liability. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the valuation of the liability because the auditor-employed specialist did not perform sufficient procedures to evaluate the reasonableness of certain significant assumptions used by the company's specialist to determine the fair value of the liability as described below. (AS 1201.C6 and .C7) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities Significant Risk 13 AS 1105 A8B The issuer engaged an external specialist to assist in determining the fair value of a liability. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its report ('liability valuation report'). The firm used an auditor-employed specialist to assist it with testing the valuation of this liability. The following deficiency was identified: · The auditor-employed specialist did not perform sufficient procedures to evaluate the reasonableness of a significant assumption developed and used by the company's specialist because it limited its procedures to (1) reading the liability valuation report (2) reading certain analysts' reports (3) inquiries of management and (4) performing a sensitivity analysis without evaluating the appropriateness of certain assumptions used in the analysis. (AS 1105.A8b) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities Significant Risk 14 AS 1105 A8B The issuer engaged an external specialist to assist in determining the fair value of a liability. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its report ('liability valuation report'). The firm used an auditor-employed specialist to assist it with testing the valuation of this liability. The following deficiency was identified: · The auditor-employed specialist did not perform procedures to evaluate the reasonableness of another significant assumption developed and used by the company's specialist beyond (1) reading the liability valuation report and publicly available information and (2) inquiries of management the company's specialist and the issuer's largest shareholder. (AS 1105.A8b) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 15 AS 2201 42 The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the other investments as presented in a reconciliation schedule including a comparison of the fair value of these investments to the related investment valuation report and/or other supporting documentation. The firm did not test aspects of the control related to (1) the mathematical accuracy of the supporting documentation used in the operation of the control and (2) agreeing an input used in the investment valuation report to the supporting documentation for one of the other investments. Further for certain other investments the firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain assumptions used by the company's specialist to determine the fair value of the investments. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 15 AS 2201 44 The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the other investments as presented in a reconciliation schedule including a comparison of the fair value of these investments to the related investment valuation report and/or other supporting documentation. The firm did not test aspects of the control related to (1) the mathematical accuracy of the supporting documentation used in the operation of the control and (2) agreeing an input used in the investment valuation report to the supporting documentation for one of the other investments. Further for certain other investments the firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain assumptions used by the company's specialist to determine the fair value of the investments. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 16 AS 1105 4 The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reliability of external historical financial information for the investee it used to evaluate the reasonableness of an assumption used by the auditor-employed specialist to develop an expectation of the fair value of an aspect of one of the other investments. (AS 1105.04 and .06) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 16 AS 1105 6 The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reliability of external historical financial information for the investee it used to evaluate the reasonableness of an assumption used by the auditor-employed specialist to develop an expectation of the fair value of an aspect of one of the other investments. (AS 1105.04 and .06) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 17 AS 2501 16 The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · When testing the issuer's process the firm did not perform procedures to evaluate the reasonableness of a significant assumption used by the company's specialist to determine the fair value of an aspect of one of the other investments at the inception date. (AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 18 AS 1105 A8B The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · When testing the issuer's process the firm did not sufficiently evaluate the work of the auditor- employed specialist and identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the reasonableness of a significant assumption developed and used by the company's specialist to determine the fair value of certain other investments. (AS 1105.A8b; AS 1201.C6 and .C7) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 18 AS 1201 C6 The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · When testing the issuer's process the firm did not sufficiently evaluate the work of the auditor- employed specialist and identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the reasonableness of a significant assumption developed and used by the company's specialist to determine the fair value of certain other investments. (AS 1105.A8b; AS 1201.C6 and .C7) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Other Investments 18 AS 1201 C7 The issuer engaged an external specialist to assist in determining the fair value of certain other investments. The company's specialist used various inputs and assumptions some of which the engagement team considered to be significant to prepare the various valuation models included in its reports ('investment valuation reports'). The firm used an auditor-employed specialist to assist in testing the valuation of these other investments. The firm's approach to test the valuation of these other investments was to test the issuer's process. For one such investment the auditor-employed specialist also developed an expectation of the fair value of an aspect of the investment. The following deficiency was identified: · When testing the issuer's process the firm did not sufficiently evaluate the work of the auditor- employed specialist and identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the reasonableness of a significant assumption developed and used by the company's specialist to determine the fair value of certain other investments. (AS 1105.A8b; AS 1201.C6 and .C7) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 19 AS 2201 42 The issuer reported goodwill at several reporting units and evaluated certain reporting units for impairment using a discounted cash flow model ('DCF model') which relied on various assumptions. The firm's approach to substantively test the issuer's goodwill impairment analysis for one reporting unit was to test the issuer's process. The firm also developed an independent expectation of the issuer's annual revenue growth rates for this reporting unit and compared those expectations to the annual revenue growth rate assumptions used by the issuer in the DCF model. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the goodwill impairment analysis for each reporting unit. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain assumptions used in the goodwill impairment analysis for certain reporting units. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 19 AS 2201 44 The issuer reported goodwill at several reporting units and evaluated certain reporting units for impairment using a discounted cash flow model ('DCF model') which relied on various assumptions. The firm's approach to substantively test the issuer's goodwill impairment analysis for one reporting unit was to test the issuer's process. The firm also developed an independent expectation of the issuer's annual revenue growth rates for this reporting unit and compared those expectations to the annual revenue growth rate assumptions used by the issuer in the DCF model. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the goodwill impairment analysis for each reporting unit. The firm did not evaluate the specific review procedures that the control owners performed to assess the reasonableness of certain assumptions used in the goodwill impairment analysis for certain reporting units. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Goodwill 20 AS 2501 16 The issuer reported goodwill at several reporting units and evaluated certain reporting units for impairment using a discounted cash flow model ('DCF model') which relied on various assumptions. The firm's approach to substantively test the issuer's goodwill impairment analysis for one reporting unit was to test the issuer's process. The firm also developed an independent expectation of the issuer's annual revenue growth rates for this reporting unit and compared those expectations to the annual revenue growth rate assumptions used by the issuer in the DCF model. The following deficiency was identified: · For the one reporting unit referred to above the firm did not perform sufficient procedures to evaluate the reasonableness of the annual revenue growth assumptions which the firm considered to be significant assumptions used by the issuer in its goodwill impairment analysis because the firm did not demonstrate that it had a reasonable basis for (1) selecting the comparable companies it used to develop its independent expectation of the average annual revenue growth rate over a six-year period and (2) assuming that the ratio of advertising expenses to revenue ('advertising ratio') generated would be predictive of the revenue growth rate for 2023. Further the firm did not perform procedures to evaluate differences between the (1) annual revenue growth rate assumptions used by the issuer and the compound annual revenue growth rates for the industry beyond determining the market share the issuer would need to capture to achieve its revenue growth rate for 2023 and (2) industry advertising ratio and the advertising ratio used by the issuer. (AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 21 AS 2201 42 The issuer engaged an external specialist to assist in determining the fair value of certain of the issuer's debt. The company's specialist prepared a valuation model using inputs determined by the specialist and the issuer used the information provided by the specialist to estimate the changes to the fair value of the debt. The firm selected for testing a control that consisted of management's review of the inputs used by the company's specialist in the valuation model for reasonableness. The following deficiency was identified: · The firm did not test aspects of the control related to management's review of (1) one of the inputs used in the valuation model and (2) the mathematical accuracy of the changes to the fair value of the debt. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 21 AS 2201 44 The issuer engaged an external specialist to assist in determining the fair value of certain of the issuer's debt. The company's specialist prepared a valuation model using inputs determined by the specialist and the issuer used the information provided by the specialist to estimate the changes to the fair value of the debt. The firm selected for testing a control that consisted of management's review of the inputs used by the company's specialist in the valuation model for reasonableness. The following deficiency was identified: · The firm did not test aspects of the control related to management's review of (1) one of the inputs used in the valuation model and (2) the mathematical accuracy of the changes to the fair value of the debt. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 22 AS 2201 42 The issuer engaged an external specialist to assist in determining the fair value of certain of the issuer's debt. The company's specialist prepared a valuation model using inputs determined by the specialist and the issuer used the information provided by the specialist to estimate the changes to the fair value of the debt. The firm selected for testing a control that consisted of management's review of the inputs used by the company's specialist in the valuation model for reasonableness. The following deficiency was identified: · The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain other inputs used in the valuation model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 22 AS 2201 44 The issuer engaged an external specialist to assist in determining the fair value of certain of the issuer's debt. The company's specialist prepared a valuation model using inputs determined by the specialist and the issuer used the information provided by the specialist to estimate the changes to the fair value of the debt. The firm selected for testing a control that consisted of management's review of the inputs used by the company's specialist in the valuation model for reasonableness. The following deficiency was identified: · The firm did not evaluate the specific review procedures that the control owner performed to assess the reasonableness of certain other inputs used in the valuation model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 23 AS 2201 42 The issuer engaged an external specialist to assist in determining the fair value of certain of the issuer's debt. The company's specialist prepared a valuation model using inputs determined by the specialist and the issuer used the information provided by the specialist to estimate the changes to the fair value of the debt. The firm selected for testing a control that consisted of management's review of the inputs used by the company's specialist in the valuation model for reasonableness. The following deficiency was identified: · For one of the quarters tested the firm did not (1) agree the inputs used in the valuation model to the inputs provided by the company's specialist and (2) evaluate the specific review procedures that the control owner performed to assess the reasonableness of one such input. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Debt 23 AS 2201 44 The issuer engaged an external specialist to assist in determining the fair value of certain of the issuer's debt. The company's specialist prepared a valuation model using inputs determined by the specialist and the issuer used the information provided by the specialist to estimate the changes to the fair value of the debt. The firm selected for testing a control that consisted of management's review of the inputs used by the company's specialist in the valuation model for reasonableness. The following deficiency was identified: · For one of the quarters tested the firm did not (1) agree the inputs used in the valuation model to the inputs provided by the company's specialist and (2) evaluate the specific review procedures that the control owner performed to assess the reasonableness of one such input. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities 1 AS 2201 42 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm selected for testing a control that included management's review of (1) the cost assumptions used in the financial budget and (2) adjustments made to the financial budget to derive the budget model. The firm did not (1) evaluate the criteria that the control owners used to identify matters for follow-up when evaluating the reasonableness of certain cost assumptions used in the financial budget and (2) test an aspect of the control related to the adjustments made to the financial budget when deriving the budget model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Significant Risk 1 AS 2201 42 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm selected for testing a control that included management's review of (1) the cost assumptions used in the financial budget and (2) adjustments made to the financial budget to derive the budget model. The firm did not (1) evaluate the criteria that the control owners used to identify matters for follow-up when evaluating the reasonableness of certain cost assumptions used in the financial budget and (2) test an aspect of the control related to the adjustments made to the financial budget when deriving the budget model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities 1 AS 2201 44 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm selected for testing a control that included management's review of (1) the cost assumptions used in the financial budget and (2) adjustments made to the financial budget to derive the budget model. The firm did not (1) evaluate the criteria that the control owners used to identify matters for follow-up when evaluating the reasonableness of certain cost assumptions used in the financial budget and (2) test an aspect of the control related to the adjustments made to the financial budget when deriving the budget model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Significant Risk 1 AS 2201 44 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm selected for testing a control that included management's review of (1) the cost assumptions used in the financial budget and (2) adjustments made to the financial budget to derive the budget model. The firm did not (1) evaluate the criteria that the control owners used to identify matters for follow-up when evaluating the reasonableness of certain cost assumptions used in the financial budget and (2) test an aspect of the control related to the adjustments made to the financial budget when deriving the budget model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities 2 AS 2201 39 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of certain inputs used in the DCF model. The firm did not identify and test any controls over the accuracy and completeness of certain data used in the operation of this control. (AS 2201.39) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Significant Risk 2 AS 2201 39 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of certain inputs used in the DCF model. The firm did not identify and test any controls over the accuracy and completeness of certain data used in the operation of this control. (AS 2201.39) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities 3 AS 2201 42 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm did not assess the effect of the issuer not evaluating certain risk factors applied to the inputs on the control's ability to effectively prevent or detect a material misstatement. (AS 2201.42) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Significant Risk 3 AS 2201 42 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm did not assess the effect of the issuer not evaluating certain risk factors applied to the inputs on the control's ability to effectively prevent or detect a material misstatement. (AS 2201.42) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities 4 AS 2810 30 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm did not identify and evaluate a departure from IFRS related to the issuer incorrectly disclosing that it used a pre-tax discount rate to estimate the present value of the future cash flows in the DCF model. (AS 2810.30 and .31) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Significant Risk 4 AS 2810 30 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm did not identify and evaluate a departure from IFRS related to the issuer incorrectly disclosing that it used a pre-tax discount rate to estimate the present value of the future cash flows in the DCF model. (AS 2810.30 and .31) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities 4 AS 2810 31 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm did not identify and evaluate a departure from IFRS related to the issuer incorrectly disclosing that it used a pre-tax discount rate to estimate the present value of the future cash flows in the DCF model. (AS 2810.30 and .31) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Significant Risk 4 AS 2810 31 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm did not identify and evaluate a departure from IFRS related to the issuer incorrectly disclosing that it used a pre-tax discount rate to estimate the present value of the future cash flows in the DCF model. (AS 2810.30 and .31) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Accruals and Other Liabilities 5 AS 1105 10 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm used the financial budget to substantively test certain other liabilities but did not test or (as discussed above) sufficiently test controls over the accuracy and completeness of the financial budget. (AS 1105.10) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Significant Risk 5 AS 1105 10 The issuer identified an indicator of potential impairment for certain long-lived assets and performed an impairment analysis to evaluate the assets for impairment. As part of its impairment analysis the issuer estimated the recoverable amount of the cash-generating unit using a DCF model which included cash flows from another model ('budget model') that were derived from the issuer's financial budget and adjusted using certain other information. The issuer used a post-tax discount rate to estimate the present value of the future cash flows in the DCF model. The issuer also used the financial budget to estimate the valuation of certain other liabilities. The following deficiency was identified: · The firm used the financial budget to substantively test certain other liabilities but did not test or (as discussed above) sufficiently test controls over the accuracy and completeness of the financial budget. (AS 1105.10) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 2201 42 The issuer engaged an external specialist to assist in determining the fair value of certain intangible assets acquired in a business combination. The following deficiency was identified: · The firm selected for testing controls that consisted of management's review of certain information prepared by the issuer and other data inputs all of which were used by the company's specialist to determine the fair value of certain intangible assets acquired in the business combination. The firm did not test an aspect of the controls related to the accuracy of certain data that the issuer provided to the company's specialist. Further with respect to certain assumptions in the information used by the company's specialist the firm did not (1) evaluate whether the thresholds used by the control owners to evaluate the reasonableness of certain assumptions were sufficiently precise to detect misstatements that could be material (2) evaluate the specific review procedures that the control owners performed to assess the reasonableness of those assumptions and (3) evaluate the criteria that the control owners used to identify matters for follow-up when evaluating the reasonableness of another assumption. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 2201 44 The issuer engaged an external specialist to assist in determining the fair value of certain intangible assets acquired in a business combination. The following deficiency was identified: · The firm selected for testing controls that consisted of management's review of certain information prepared by the issuer and other data inputs all of which were used by the company's specialist to determine the fair value of certain intangible assets acquired in the business combination. The firm did not test an aspect of the controls related to the accuracy of certain data that the issuer provided to the company's specialist. Further with respect to certain assumptions in the information used by the company's specialist the firm did not (1) evaluate whether the thresholds used by the control owners to evaluate the reasonableness of certain assumptions were sufficiently precise to detect misstatements that could be material (2) evaluate the specific review procedures that the control owners performed to assess the reasonableness of those assumptions and (3) evaluate the criteria that the control owners used to identify matters for follow-up when evaluating the reasonableness of another assumption. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 2 AS 1105 A8a The issuer engaged an external specialist to assist in determining the fair value of certain intangible assets acquired in a business combination. The following deficiency was identified: · The firm did not perform any procedures to test or test any controls over the accuracy of certain data that the issuer provided to the company's specialist and used by the specialist to develop an assumption that was then used by the specialist to determine the fair value of certain intangible assets acquired in the business combination. (AS 1105.A8a) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 2301 8 The issuer engaged an external specialist to assist in determining the fair value of certain intangible assets acquired in a business combination. The following deficiency was identified: · The firm did not perform procedures beyond documenting that certain disclosures were not material to evaluate whether the issuer made all required disclosures related to the business combination in conformity with FASB ASC Topic 805 Business Combinations. (AS 2301.08) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A C No Both financial statement and ICFR audits Audits with multiple deficiencies Cash Flows 4 AS 2201 42 The firm selected for testing a control that consisted of management's review of the statement of cash flows. The firm did not assess the effect of the issuer not evaluating the accuracy and completeness of certain data used in the operation of the control on the control's ability to effectively prevent or detect a material misstatement. (AS 2201.42) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 42 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the appropriateness of the ACL for certain loans. The firm did not evaluate the specific review procedures that the control owner performed to assess the (1) appropriateness of the method(s) used by the company's specialists to determine the value of the collateral (2) reasonableness of the assumptions used by the company's specialists to determine the value of the collateral and (3) reasonableness of the collateral adjustment percentage used in the DCF model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 1 AS 2201 44 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm selected for testing a control that consisted of management's review of the appropriateness of the ACL for certain loans. The firm did not evaluate the specific review procedures that the control owner performed to assess the (1) appropriateness of the method(s) used by the company's specialists to determine the value of the collateral (2) reasonableness of the assumptions used by the company's specialists to determine the value of the collateral and (3) reasonableness of the collateral adjustment percentage used in the DCF model. (AS 2201.42 and .44) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1105 A10 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1105 A4 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1105 A5 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1105 A6 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1105 A7 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1105 A8 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 1105 A9 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 2 AS 2501 16 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the value of the collateral as determined by the company's specialists beyond reading the valuation reports prepared by the company's specialists and assessing the knowledge skills and ability of the specialists. (AS 1105.A4 - .A10; AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Significant Risk 3 AS 2501 16 For certain loans the issuer estimated the allowance for credit losses ('ACL') by comparing the respective loan's outstanding balance to the output of a DCF model which included various assumptions. One of the significant assumptions used in the DCF model was dependent on another significant assumption which was the value of the underlying collateral for the respective loans as determined by various external specialists engaged by the issuer. The firm's approach to test the ACL for these loans was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the collateral adjustment percentage which the firm considered to be a significant assumption used in the DCF model beyond comparing the collateral adjustment percentage to the issuer's policy of acceptable collateral ranges. (AS 2501.16) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 1201 C6 The issuer engaged an external specialist to assist in determining the fair value of an intangible asset acquired in a business combination and the firm used an auditor-employed specialist to assist it with testing the valuation of this intangible asset. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist as it did not identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the valuation of the intangible asset because the auditor-employed specialist did not perform sufficient procedures to evaluate the work of the company's specialist as described below. (AS 1201.C6 and .C7) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 1 AS 1201 C7 The issuer engaged an external specialist to assist in determining the fair value of an intangible asset acquired in a business combination and the firm used an auditor-employed specialist to assist it with testing the valuation of this intangible asset. The following deficiency was identified: · The firm did not sufficiently evaluate the work of the auditor-employed specialist as it did not identify that the auditor-employed specialist's work did not provide sufficient appropriate audit evidence regarding the valuation of the intangible asset because the auditor-employed specialist did not perform sufficient procedures to evaluate the work of the company's specialist as described below. (AS 1201.C6 and .C7) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 2 AS 1105 A8a The issuer engaged an external specialist to assist in determining the fair value of an intangible asset acquired in a business combination and the firm used an auditor-employed specialist to assist it with testing the valuation of this intangible asset. The following deficiency was identified: · The auditor-employed specialist did not perform procedures to evaluate the relevance and reliability of data from external sources that the company's specialist used to develop an assumption that was then used to determine the fair value of the intangible asset. (AS 1105.A8a) Triennially Inspected 85 KPMG LLP 2023 Canada KPMG International Cooperative 2024-12-19T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Business Combinations Significant Risk 3 AS 1105 A8b The issuer engaged an external specialist to assist in determining the fair value of an intangible asset acquired in a business combination and the firm used an auditor-employed specialist to assist it with testing the valuation of this intangible asset. The following deficiency was identified: · The auditor-employed specialist did not perform procedures to evaluate the reasonableness of a significant assumption developed and used by the company's specialist to determine the fair value of the intangible asset beyond reading the valuation report prepared by the company's specialist and identifying qualitative factors that could result in a significant difference between the assumption and the range for that assumption identified by the company's specialist. (AS 1105.A8b) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over revenue. The following deficiency was identified: · For certain controls over the recording of revenue that consisted of matching information from the invoice to other data the firm did not directly test the operating effectiveness of the controls because its procedures were substantive in nature. (AS 2201.42 .44 and .B9) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over revenue. The following deficiency was identified: · For certain controls over the recording of revenue that consisted of matching information from the invoice to other data the firm did not directly test the operating effectiveness of the controls because its procedures were substantive in nature. (AS 2201.42 .44 and .B9) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 B9 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over revenue. The following deficiency was identified: · For certain controls over the recording of revenue that consisted of matching information from the invoice to other data the firm did not directly test the operating effectiveness of the controls because its procedures were substantive in nature. (AS 2201.42 .44 and .B9) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over revenue. The following deficiency was identified: · For certain management review controls the firm did not evaluate the specific 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) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over revenue. The following deficiency was identified: · For certain management review controls the firm did not evaluate the specific 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) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing certain controls over revenue. The following deficiency was identified: · The firm did not perform procedures to test or identify and test any controls over the accuracy and completeness of certain system-generated reports it used to make its selections for testing the operating effectiveness of certain controls over revenue. (AS 1105.10) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 16 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The sample size the firm used in its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 18 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The sample size the firm used in its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 37 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The sample size the firm used in its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 19 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The sample size the firm used in its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 23 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The sample size the firm used in its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2315 23A The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The sample size the firm used in its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Asset 5 AS 2201 39 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not identify and test any controls over the accuracy and completeness of certain issuer-produced data and/or reports used in the operation of certain controls over a certain asset. (AS 2201.39) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cash 6 AS 2201 42 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing a control over the initiation and approval of wire transfers. The firm did not identify and test any controls over segregation of duties between the initiator the approver and the sender of wire transfers. (AS 2201.42 and .44) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Cash 6 AS 2201 44 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm selected for testing a control over the initiation and approval of wire transfers. The firm did not identify and test any controls over segregation of duties between the initiator the approver and the sender of wire transfers. (AS 2201.42 and .44) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Information Technology General Controls 1 AS 2201 42 The firm tested certain ITGCs over the issuer's logical access and change management for the issuer's system. The following deficiency was identified: · The firm did not sufficiently evaluate the specific procedures that the control owners performed to determine whether to grant role access to users or whether the granted role access continued to be appropriate because its procedures to test the design and operating effectiveness did not include any procedures related to assessing the appropriateness of the roles configured within the system. (AS 2201.42 and .44) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Information Technology General Controls 1 AS 2201 44 The firm tested certain ITGCs over the issuer's logical access and change management for the issuer's system. The following deficiency was identified: · The firm did not sufficiently evaluate the specific procedures that the control owners performed to determine whether to grant role access to users or whether the granted role access continued to be appropriate because its procedures to test the design and operating effectiveness did not include any procedures related to assessing the appropriateness of the roles configured within the system. (AS 2201.42 and .44) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Information Technology General Controls 2 AS 1105 10 The firm tested certain ITGCs over the issuer's logical access and change management for the issuer's system. The following deficiency was identified: · The firm did not sufficiently test the design and operating effectiveness of certain ITGCs related to change management because its procedures to test the completeness of the population of changes were limited to observing the generation of change information from an application outside the issuer's primary system and obtaining an administrator activity log. (AS 1105.10) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Information Technology General Controls 3 AS 2201 46 As a result of the deficiencies in the firm's ITGC testing the firm did not sufficiently test whether the information technology (IT) automated application controls and the IT-dependent manual controls it selected for testing over revenue and a certain asset were effective as each control was dependent on the effectiveness of ITGCs. (AS 2201.46) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2201 42 The firm selected for testing certain review controls over revenue. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the appropriateness of the (1) timing of revenue recognition and (2) price changes from the issuer's system. (AS 2201.42 and .44) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2201 44 The firm selected for testing certain review controls over revenue. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the appropriateness of the (1) timing of revenue recognition and (2) price changes from the issuer's system. (AS 2201.42 and .44) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 16 The sample size the firm used in its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 18 The sample size the firm used in its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2301 37 The sample size the firm used in its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 19 The sample size the firm used in its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23 The sample size the firm used in its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23A The sample size the firm used in its substantive procedures to test certain revenue was too small to provide sufficient appropriate audit evidence because the procedures were designed based on a level of control reliance that was not supported due to the deficiencies in the firm's control testing discussed above. (AS 2301.16 .18 and .37; AS 2315.19 .23 and .23A) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Asset Significant Risk 6 AS 2201 42 The firm selected for testing certain review controls over a certain asset. The firm did not evaluate the specific 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) Triennially Inspected 207 BPM LLP 2024 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Asset Significant Risk 6 AS 2201 44 The firm selected for testing certain review controls over a certain asset. The firm did not evaluate the specific 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) Triennially Inspected 344 Wipfli LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform sufficient procedures to evaluate whether all performance obligations were appropriately identified because it did not (1) perform procedures to identify and review all customer agreements/contracts that may contain promises to provide distinct goods or services and (2) evaluate whether any such promises identified should be accounted for as separate performance obligations. (AS 2301.08 and .13) Triennially Inspected 344 Wipfli LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform sufficient procedures to evaluate whether all performance obligations were appropriately identified because it did not (1) perform procedures to identify and review all customer agreements/contracts that may contain promises to provide distinct goods or services and (2) evaluate whether any such promises identified should be accounted for as separate performance obligations. (AS 2301.08 and .13) Triennially Inspected 344 Wipfli LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 10 The firm did not perform procedures to test or test any controls over the accuracy and completeness of certain system-generated data it used to substantively test revenue. (AS 1105.10) Triennially Inspected 344 Wipfli LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Participant and Employer Contributions 1 AS 1105 27 To test rollover contributions the firm selected certain rollover contributions that met specific criteria to evaluate whether they were appropriately recognized in accordance with the terms of the plan document. The firm did not perform any substantive procedures to test the remaining population of rollover contributions to address the assessed risk of material misstatement. (AS 1105.27; AS 2301.08) Triennially Inspected 344 Wipfli LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Participant and Employer Contributions 1 AS 2301 8 To test rollover contributions the firm selected certain rollover contributions that met specific criteria to evaluate whether they were appropriately recognized in accordance with the terms of the plan document. The firm did not perform any substantive procedures to test the remaining population of rollover contributions to address the assessed risk of material misstatement. (AS 1105.27; AS 2301.08) Triennially Inspected 673 Richey, May & Co., LLP 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Journal Entries Fraud Risk 1 AS 2401 58 The firm did not identify and select journal entries and other adjustments for testing to address the potential for material misstatement due to fraud. (AS 2401.58) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 1 AS 2201 42 The issuer's ALL included a qualitative reserve based on various qualitative factors. The following deficiency was identified: · The firm selected for testing two review controls over the issuer's determination of the qualitative reserve. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the assumptions used to develop the qualitative factors used in determining the qualitative reserve. (AS 2201.42 and .44) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 1 AS 2201 44 The issuer's ALL included a qualitative reserve based on various qualitative factors. The following deficiency was identified: · The firm selected for testing two review controls over the issuer's determination of the qualitative reserve. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the assumptions used to develop the qualitative factors used in determining the qualitative reserve. (AS 2201.42 and .44) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 2 AS 2501 16 The issuer's ALL included a qualitative reserve based on various qualitative factors. The following deficiency was identified: · The firm did not perform procedures to evaluate whether the issuer had a reasonable basis for the significant assumptions used to determine the qualitative reserve beyond obtaining and reading an issuer-prepared narrative. (AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 3 AS 2201 39 The issuer monitored loan delinquency and used that information to identify potential problem loans for impairment evaluation. The firm did not identify and test any controls over the identification and classification of past due loans within the issuer's loan system. (AS 2201.39) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 4 AS 2201 42 The firm selected for testing a control over the review of potential other-than-temporary-impairment on available-for-sale investment securities. The firm 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) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 4 AS 2201 44 The firm selected for testing a control over the review of potential other-than-temporary-impairment on available-for-sale investment securities. The firm 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) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 5 AS 2810 17 The firm did not sufficiently evaluate a departure from GAAP related to the issuer's recording of certain available-for-sale investment securities at par value rather than fair value in accordance with FASB ASC Topic 320 Investments — Debt Securities because it did not evaluate whether the uncorrected misstatement was material taking into account relevant quantitative and qualitative considerations in materiality judgments. (AS 2810.17 .30 and .31) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 5 AS 2810 30 The firm did not sufficiently evaluate a departure from GAAP related to the issuer's recording of certain available-for-sale investment securities at par value rather than fair value in accordance with FASB ASC Topic 320 Investments — Debt Securities because it did not evaluate whether the uncorrected misstatement was material taking into account relevant quantitative and qualitative considerations in materiality judgments. (AS 2810.17 .30 and .31) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 5 AS 2810 31 The firm did not sufficiently evaluate a departure from GAAP related to the issuer's recording of certain available-for-sale investment securities at par value rather than fair value in accordance with FASB ASC Topic 320 Investments — Debt Securities because it did not evaluate whether the uncorrected misstatement was material taking into account relevant quantitative and qualitative considerations in materiality judgments. (AS 2810.17 .30 and .31) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 6 AS 1210 12 The firm engaged a specialist to evaluate the fair value hierarchy classifications for the issuer's available-for-sale investment securities. The firm did not perform additional procedures beyond consideration of directional risk or request that the auditor-engaged specialist perform additional procedures to address the specialist's findings that appeared to contradict the issuer's presentation of these investment securities within the fair value hierarchy. (AS 1210.12; AS 2301.08) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Investment Securities 6 AS 2301 8 The firm engaged a specialist to evaluate the fair value hierarchy classifications for the issuer's available-for-sale investment securities. The firm did not perform additional procedures beyond consideration of directional risk or request that the auditor-engaged specialist perform additional procedures to address the specialist's findings that appeared to contradict the issuer's presentation of these investment securities within the fair value hierarchy. (AS 1210.12; AS 2301.08) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 7 AS 2201 68 The firm identified a deficiency related to the ability of individuals to post journal entries without review or approval. The firm tested two controls that it believed would compensate for this deficiency but did not identify that these controls did not address the risk of material misstatement related to unapproved journal entries. (AS 2201.68) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 8 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm selected for testing certain journal entries that met the criteria. The firm did not perform sufficient substantive procedures to test journal entries because it did not have an appropriate rationale for limiting its procedures to certain journal entries that met the fraud criteria. (AS 2401.61) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 1 AS 2201 39 The issuer performed cycle counts of inventory at a location. The following deficiency was identified: · The firm did not identify and test any controls that addressed whether all of the inventory items were assigned a frequency to be counted and the appropriateness of the assignment. (AS 2201.39) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2201 39 The issuer performed cycle counts of inventory at a location. The following deficiency was identified: · The firm did not identify and test any controls over the issuer's review of cycle count results including any related inventory adjustments. (AS 2201.39) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 3 AS 2510 11 The issuer performed cycle counts of inventory at a location. The following deficiency was identified: · Due to the deficiencies described the firm did not obtain sufficient appropriate audit evidence that the cycle-count procedures the issuer used for this inventory were sufficiently reliable to produce results substantially the same as those that would have been obtained by a count of all items each year. (AS 2510.11) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 4 AS 2201 68 The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · The firm identified and tested various review controls that it believed would mitigate the deficiencies. The firm did not perform procedures to 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 2201.68) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 5 AS 2201 68 The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · The firm identified and tested various review controls that it believed would mitigate the deficiencies. The firm did not identify and test any controls over the accuracy and completeness of the information used in these reviews. (AS 2201.68) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 6 AS 2315 16 The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · For one of these locations the firm attended the cycle counts at year end and performed test count procedures. The sample size the firm used for its test count procedures was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 6 AS 2315 19 The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · For one of these locations the firm attended the cycle counts at year end and performed test count procedures. The sample size the firm used for its test count procedures was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 6 AS 2315 23 The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · For one of these locations the firm attended the cycle counts at year end and performed test count procedures. The sample size the firm used for its test count procedures was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 6 AS 2315 23A The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · For one of these locations the firm attended the cycle counts at year end and performed test count procedures. The sample size the firm used for its test count procedures was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 7 AS 2301 8 The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · For two of these locations the firm did not perform any substantive procedures to test the existence of inventory at year end. (AS 2301.08 and .11) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 7 AS 2301 11 The issuer performed cycle counts of inventory at other locations. The firm identified deficiencies in the design and operating effectiveness of these controls at year end. The following deficiency was identified: · For two of these locations the firm did not perform any substantive procedures to test the existence of inventory at year end. (AS 2301.08 and .11) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 8 AS 2201 39 The firm did not identify and test any controls for certain locations where the issuer performed full physical inventory observations. (AS 2201.39) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 9 AS 2315 16 For one of these locations the firm observed the physical inventory counts and selected a sample of inventory items for testing. The sample size the firm used was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 9 AS 2315 19 For one of these locations the firm observed the physical inventory counts and selected a sample of inventory items for testing. The sample size the firm used was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 9 AS 2315 23 For one of these locations the firm observed the physical inventory counts and selected a sample of inventory items for testing. The sample size the firm used was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 9 AS 2315 23A For one of these locations the firm observed the physical inventory counts and selected a sample of inventory items for testing. The sample size the firm used was too small to provide sufficient appropriate audit evidence over the existence of inventory because the firm did not take into account the relevant factors in determining its sample size including tolerable misstatement for the population the allowable risk of incorrect acceptance and the characteristics of the population. (AS 2315.16 .19 .23 and .23A) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 10 AS 2301 8 For one other location the firm did not perform any substantive procedures to test the existence of inventory at year end. (AS 2301.08 and .11) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 10 AS 2301 11 For one other location the firm did not perform any substantive procedures to test the existence of inventory at year end. (AS 2301.08 and .11) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 11 AS 2201 42 The firm selected for testing a control over the review of inventory reserves. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the inventory reserve. (AS 2201.42 and .44) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 11 AS 2201 44 The firm selected for testing a control over the review of inventory reserves. The firm did not evaluate the specific review procedures that the control owners performed to evaluate the reasonableness of the inventory reserve. (AS 2201.42 and .44) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 12 AS 2201 39 The firm selected for testing a control over the review of inventory reserves. The firm did not identify and test any controls over the accuracy and completeness of information used in the operation of this control (AS 2201.39) Unrelated to our review the issuer reevaluated its controls over inventory and concluded that material weaknesses existed that had not been previously identified. The issuer subsequently reflected these material weaknesses in a revision to its report on ICFR and the firm revised its opinion on the effectiveness of the issuer's ICFR to express an adverse opinion and reissued its report. Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 13 AS 1105 10 The firm's approach for substantively testing inventory reserves was to test the issuer's process used to develop the reserve. The firm did not perform procedures to test or identify and test any controls over the completeness of certain information it used to substantively test the inventory reserve. (AS 1105.10) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 14 AS 2501 16 The firm's approach for substantively testing inventory reserves was to test the issuer's process used to develop the reserve. The firm did not perform procedures beyond inquiry to evaluate the reasonableness of significant assumptions used to determine the inventory reserve. (AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 1 AS 2501 16 The issuer used certain qualitative factors to determine the qualitative component of the ALL. The firm's approach for substantively testing the qualitative component of the ALL was to test the issuer's process and develop an independent expectation. The following deficiency was identified: · The firm did not evaluate whether the issuer had a reasonable basis for certain significant assumptions related to basis points assigned to qualitative factors used to determine the qualitative component of the ALL. (AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Allowance for Loan Losses Significant Risk 2 AS 2501 22 The issuer used certain qualitative factors to determine the qualitative component of the ALL. The firm's approach for substantively testing the qualitative component of the ALL was to test the issuer's process and develop an independent expectation. The following deficiency was identified: · The firm did not perform any procedures to demonstrate it had a reasonable basis for the assumptions it used in determining its independent expectation. (AS 2501.22) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Loan Losses 1 AS 2201 39 The issuer used loan risk ratings to estimate its ACL. The firm did not identify and test any controls that addressed the reasonableness of loan risk ratings. (AS 2201.39) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A D No Both financial statement and ICFR audits Audits with multiple deficiencies Control Deficiencies 2 AS 2201 62 The firm identified control deficiencies related to significant accounts and in areas of significant risk. The firm did not sufficiently evaluate the severity of these control deficiencies because it did not evaluate the magnitude of the potential misstatements resulting from the deficiencies. (AS 2201.62) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Investment Securities 1 AS 1210 12 The firm engaged a specialist to evaluate the fair value hierarchy classifications for the issuer's investment securities. The firm did not perform procedures beyond quantifying the differences in fair value or request that the auditor-engaged specialist perform additional procedures to address the specialist's findings that appeared to contradict the issuer's presentation of these investment securities within the fair value hierarchy. (AS 1210.12; AS 2301.08) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Investment Securities 1 AS 2301 8 The firm engaged a specialist to evaluate the fair value hierarchy classifications for the issuer's investment securities. The firm did not perform procedures beyond quantifying the differences in fair value or request that the auditor-engaged specialist perform additional procedures to address the specialist's findings that appeared to contradict the issuer's presentation of these investment securities within the fair value hierarchy. (AS 1210.12; AS 2301.08) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A E No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 2 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient substantive procedures to test those journal entries because it limited its procedures to evaluating the journal entry descriptions. (AS 2401.61) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 1 AS 1105 A8a The issuer engaged an external specialist to develop estimates related to certain long-lived assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: · The firm did not perform any procedures to test the accuracy and completeness of certain issuer-produced data and evaluate the relevance and reliability of certain data from external sources that the company's specialist used. (AS 1105.A8a) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 2 AS 1105 A8b The issuer engaged an external specialist to develop estimates related to certain long-lived assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer and the company's specialist. (AS 1105.A8b; AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 2 AS 2501 16 The issuer engaged an external specialist to develop estimates related to certain long-lived assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reasonableness of certain significant assumptions developed by the issuer and the company's specialist. (AS 1105.A8b; AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 3 AS 2501 16 The issuer engaged an external specialist to develop estimates related to certain long-lived assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of certain components of other significant assumptions developed by the issuer and used by the company's specialist. (AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A F No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 4 AS 1105 A8c The issuer engaged an external specialist to develop estimates related to certain long-lived assets. The firm's approach for substantively testing this estimate was to test the issuer's process. The following deficiency was identified: · The firm did not perform any procedures beyond inquiry to evaluate whether the methods used by the company's specialist were appropriate under the circumstances. (AS 1105.A8c) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 1 AS 2201 42 The issuer reported an ACL that included both a quantitative and qualitative component. The issuer used certain qualitative factors including assigned loan risk grades to determine the qualitative component of the ACL. The following deficiency was identified: · The firm selected for testing a review control over the qualitative reserve. The firm did not evaluate the specific review procedures the control owners performed to evaluate the reasonableness of the basis points applied to the qualitative factors. (AS 2201.42 and .44) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 1 AS 2201 44 The issuer reported an ACL that included both a quantitative and qualitative component. The issuer used certain qualitative factors including assigned loan risk grades to determine the qualitative component of the ACL. The following deficiency was identified: · The firm selected for testing a review control over the qualitative reserve. The firm did not evaluate the specific review procedures the control owners performed to evaluate the reasonableness of the basis points applied to the qualitative factors. (AS 2201.42 and .44) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 2 AS 2201 42 The issuer reported an ACL that included both a quantitative and qualitative component. The issuer used certain qualitative factors including assigned loan risk grades to determine the qualitative component of the ACL. The following deficiency was identified: · The firm selected for testing a control that consisted of the issuer's review of loans including a review of the reasonableness of assigned loan risk grades. This control included a determination of which loans would be subject to a review of the assigned loan risk grades. The firm did not assess the effect of the issuer excluding certain loans from review of the assigned loan risk grades on the control's ability to effectively prevent or detect a material misstatement. (AS 2201.42) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 3 AS 2501 16 The issuer reported an ACL that included both a quantitative and qualitative component. The issuer used certain qualitative factors including assigned loan risk grades to determine the qualitative component of the ACL. The following deficiency was identified: · The firm did not perform procedures to evaluate whether the issuer had a reasonable basis for the significant assumptions related to basis points applied to the qualitative factors beyond obtaining and reading an issuer-prepared narrative. (AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A G No Both financial statement and ICFR audits Audits with multiple deficiencies Allowance for Credit Losses Fraud Risk 4 AS 2501 16 The issuer reported an ACL that included both a quantitative and qualitative component. The issuer used certain qualitative factors including assigned loan risk grades to determine the qualitative component of the ACL. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reasonableness of a significant assumption used to develop the quantitative component. (AS 2501.16) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A H No ICFR audit only Audits with a single deficiency Allowance for Credit Losses Significant Risk 1 AS 2201 39 The issuer used loan risk ratings to estimate its ACL. The firm did not identify and test any controls over the reasonableness of loan risk ratings. (AS 2201.39) Triennially Inspected 686 Forvis Mazars, LLP 2023 United States 2024-12-19T00:00:00 Part I.A I No Financial statement audit only Audits with a single deficiency Revenue 1 AS 1105 10 The firm did not perform procedures to test the accuracy and completeness of certain issuer-produced reports beyond testing their mathematical accuracy that the issuer used to identify performance obligations and allocate transaction prices to those obligations and the firm used in its substantive procedures. (AS 1105.10) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 8 The issuer records multiple types of revenue. For one type of revenue the firm compared issuer revenue information to customer sales contracts. The firm did not perform procedures to evaluate whether (1) the issuer met its performance obligations before revenue was recognized; and (2) the method used to recognize revenue for one contract was appropriate. (AS 2301.08 and .11) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 1 AS 2301 11 The issuer records multiple types of revenue. For one type of revenue the firm compared issuer revenue information to customer sales contracts. The firm did not perform procedures to evaluate whether (1) the issuer met its performance obligations before revenue was recognized; and (2) the method used to recognize revenue for one contract was appropriate. (AS 2301.08 and .11) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 2 AS 2301 8 The issuer records multiple types of revenue. For another type of revenue the firm did not perform any procedures to test the revenue beyond agreeing revenue from three selected locations to an issuer-prepared schedule. (AS 2301.08 and .11) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Significant Risk 2 AS 2301 11 The issuer records multiple types of revenue. For another type of revenue the firm did not perform any procedures to test the revenue beyond agreeing revenue from three selected locations to an issuer-prepared schedule. (AS 2301.08 and .11) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 3 AS 2401 58 The firm did not perform any 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) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Uncorrected Misstatements 4 AS 2810 10 The firm identified unresolved differences related to revenue and intangible assets. The firm did not perform procedures to (1) address these identified differences and (2) accumulate these differences to evaluate whether they were material individually or in combination with other misstatements even though the firm had not designated an amount below which misstatements are clearly trivial and do not need to be accumulated. (AS 2810.10 and .17) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Uncorrected Misstatements 4 AS 2810 17 The firm identified unresolved differences related to revenue and intangible assets. The firm did not perform procedures to (1) address these identified differences and (2) accumulate these differences to evaluate whether they were material individually or in combination with other misstatements even though the firm had not designated an amount below which misstatements are clearly trivial and do not need to be accumulated. (AS 2810.10 and .17) Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 1 AS 2501 7 The firm did not perform procedures to test the valuation of certain significant accounts. (AS 2501.07) In connection with our review the issuer reevaluated its accounting for and disclosure of certain significant accounts and determined that misstatements existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these misstatements in a subsequent filing by revising the accounting disclosure. Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 2 AS 1105 4 The firm did not perform procedures to test the reliability of information used by the firm in its testing of the valuation of a significant account. (AS 1105.04 and .06) In connection with our review the issuer reevaluated its accounting for and disclosure of certain significant accounts and determined that misstatements existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these misstatements in a subsequent filing by revising the accounting disclosure. Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 2 AS 1105 6 The firm did not perform procedures to test the reliability of information used by the firm in its testing of the valuation of a significant account. (AS 1105.04 and .06) In connection with our review the issuer reevaluated its accounting for and disclosure of certain significant accounts and determined that misstatements existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these misstatements in a subsequent filing by revising the accounting disclosure. Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 3 AS 2301 8 The firm did not evaluate the appropriateness of the issuer's accounting for and presentation and disclosure of these accounts. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for and disclosure of certain significant accounts and determined that misstatements existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these misstatements in a subsequent filing by revising the accounting disclosure. Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 3 AS 2301 11 The firm did not evaluate the appropriateness of the issuer's accounting for and presentation and disclosure of these accounts. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for and disclosure of certain significant accounts and determined that misstatements existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these misstatements in a subsequent filing by revising the accounting disclosure. Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 4 AS 2301 8 The firm did not perform procedures to test the existence completeness and rights and obligations for these accounts beyond confirming certain information with external parties. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for and disclosure of certain significant accounts and determined that misstatements existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these misstatements in a subsequent filing by revising the accounting disclosure. Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 4 AS 2301 11 The firm did not perform procedures to test the existence completeness and rights and obligations for these accounts beyond confirming certain information with external parties. (AS 2301.08 and .11) In connection with our review the issuer reevaluated its accounting for and disclosure of certain significant accounts and determined that misstatements existed that had not been previously identified. The issuer did not file an amended Form 10-K or Form 8-K indicating that its previously issued financial statements should not be relied on. Instead the issuer corrected these misstatements in a subsequent filing by revising the accounting disclosure. Triennially Inspected 822 Michael T. Studer CPA P.C. 2023 United States 2024-12-19T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 5 AS 2401 58 The firm did not perform any 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) Triennially Inspected 1437 Ernst & Young Han Young 2023 South Korea Ernst & Young Global Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to certain revenue and long-lived assets. The issuer outsourced its IT operations to a third-party service organization including the operation of certain IT automated controls ('ITACs'). The transaction data processed through these IT systems and the IT systems themselves which were maintained by the service organization were owned by the issuer. The firm selected for testing various ITACs over certain revenue and long-lived assets. The firm used the work of the service organization's auditor ('service auditor') as evidence of the design and operating effectiveness of these ITACs whereby the firm provided guidance to the service auditor related to the testing of these ITACs and the firm obtained the service auditor's report which described the service auditor's testing procedures and results. The firm did not perform sufficient procedures to test the design and operating effectiveness of these ITACs because the firm did not identify that the service auditor had not performed procedures to (1) test the design of these ITACs and (2) evaluate program customizations to support the use of a 'test of one' approach to test the operating effectiveness of these ITACs. (AS 2201.42 and .44) Triennially Inspected 1437 Ernst & Young Han Young 2023 South Korea Ernst & Young Global Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 42 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to certain revenue and long-lived assets. The issuer outsourced its IT operations to a third-party service organization including the operation of certain IT automated controls ('ITACs'). The transaction data processed through these IT systems and the IT systems themselves which were maintained by the service organization were owned by the issuer. The firm selected for testing various ITACs over certain revenue and long-lived assets. The firm used the work of the service organization's auditor ('service auditor') as evidence of the design and operating effectiveness of these ITACs whereby the firm provided guidance to the service auditor related to the testing of these ITACs and the firm obtained the service auditor's report which described the service auditor's testing procedures and results. The firm did not perform sufficient procedures to test the design and operating effectiveness of these ITACs because the firm did not identify that the service auditor had not performed procedures to (1) test the design of these ITACs and (2) evaluate program customizations to support the use of a 'test of one' approach to test the operating effectiveness of these ITACs. (AS 2201.42 and .44) Triennially Inspected 1437 Ernst & Young Han Young 2023 South Korea Ernst & Young Global Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets 1 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to certain revenue and long-lived assets. The issuer outsourced its IT operations to a third-party service organization including the operation of certain IT automated controls ('ITACs'). The transaction data processed through these IT systems and the IT systems themselves which were maintained by the service organization were owned by the issuer. The firm selected for testing various ITACs over certain revenue and long-lived assets. The firm used the work of the service organization's auditor ('service auditor') as evidence of the design and operating effectiveness of these ITACs whereby the firm provided guidance to the service auditor related to the testing of these ITACs and the firm obtained the service auditor's report which described the service auditor's testing procedures and results. The firm did not perform sufficient procedures to test the design and operating effectiveness of these ITACs because the firm did not identify that the service auditor had not performed procedures to (1) test the design of these ITACs and (2) evaluate program customizations to support the use of a 'test of one' approach to test the operating effectiveness of these ITACs. (AS 2201.42 and .44) Triennially Inspected 1437 Ernst & Young Han Young 2023 South Korea Ernst & Young Global Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 The issuer used multiple information-technology (IT) systems to initiate process and record transactions related to certain revenue and long-lived assets. The issuer outsourced its IT operations to a third-party service organization including the operation of certain IT automated controls ('ITACs'). The transaction data processed through these IT systems and the IT systems themselves which were maintained by the service organization were owned by the issuer. The firm selected for testing various ITACs over certain revenue and long-lived assets. The firm used the work of the service organization's auditor ('service auditor') as evidence of the design and operating effectiveness of these ITACs whereby the firm provided guidance to the service auditor related to the testing of these ITACs and the firm obtained the service auditor's report which described the service auditor's testing procedures and results. The firm did not perform sufficient procedures to test the design and operating effectiveness of these ITACs because the firm did not identify that the service auditor had not performed procedures to (1) test the design of these ITACs and (2) evaluate program customizations to support the use of a 'test of one' approach to test the operating effectiveness of these ITACs. (AS 2201.42 and .44) Triennially Inspected 1437 Ernst & Young Han Young 2023 South Korea Ernst & Young Global Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm did not perform sufficient substantive procedures to test certain revenue because the firm did not subject all relevant revenue transactions to these procedures as it did not compile a complete population of transactions from which it made its selections for testing and the firm did not perform any other procedures to test the remaining revenue transactions. (AS 2301.08 and .13) Triennially Inspected 1437 Ernst & Young Han Young 2023 South Korea Ernst & Young Global Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm did not perform sufficient substantive procedures to test certain revenue because the firm did not subject all relevant revenue transactions to these procedures as it did not compile a complete population of transactions from which it made its selections for testing and the firm did not perform any other procedures to test the remaining revenue transactions. (AS 2301.08 and .13) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 1101 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 1105 4 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2101 8 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2101 10 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2110 4 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2301 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2401 57 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2410 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2415 3 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2810 30 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 2747 JTC Fair Song CPA Firm 2024 China 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Significant Accounts and Disclosures 1 AS 2810 31 The firm did not plan and perform an audit that provided a reasonable basis for its audit opinion on the issuer's financial statements because it limited its procedures to establishing a materiality level for the financial statements certain risk assessment procedures confirmation of cash and related party transactions obtaining letters from creditors confirming they would not demand payment until such time when the issuer had sufficient resources to make payment and obtaining certain issuer-prepared schedules. (AS 1101.03; AS 1105.04; AS 2101.08 and .10; AS 2110.04; AS 2301.08; AS 2401.57; AS 2410.03; AS 2415.03; AS 2810.30 and .31) Triennially Inspected 5270 Grant Thornton Auditores Independentes Ltda 2024 Brazil Grant Thornton International Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Assets Significant Risk 1 AS 2201 68 The firm selected for testing a control that consisted of the issuer's review of the fair value of certain assets. The firm identified a deficiency in the operating effectiveness of this control. The firm identified and tested compensating controls that it believed would mitigate this deficiency. The firm did not identify that these other controls were not designed to address whether these assets were appropriately recorded at fair value. (AS 2201.68) Triennially Inspected 5270 Grant Thornton Auditores Independentes Ltda 2024 Brazil Grant Thornton International Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Assets Significant Risk 2 AS 1105 A8a The firm used an auditor-employed specialist to test the fair value of certain of these assets which was determined by the company's specialist. The auditor-employed specialist's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that it did not (1) evaluate the reasonableness of the significant assumptions developed by the company's specialist (2) evaluate whether the methods used by the company's specialist were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework and (3) test the accuracy and/or completeness of certain issuer-produced data used by the company's specialist. The firm did not perform additional procedures or request the auditor-employed specialist to perform additional procedures to address these issues. (AS 1105.A8a .A8b and .A8c; AS 1201.C6 and .C7) Triennially Inspected 5270 Grant Thornton Auditores Independentes Ltda 2024 Brazil Grant Thornton International Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Assets Significant Risk 2 AS 1105 A8b The firm used an auditor-employed specialist to test the fair value of certain of these assets which was determined by the company's specialist. The auditor-employed specialist's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that it did not (1) evaluate the reasonableness of the significant assumptions developed by the company's specialist (2) evaluate whether the methods used by the company's specialist were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework and (3) test the accuracy and/or completeness of certain issuer-produced data used by the company's specialist. The firm did not perform additional procedures or request the auditor-employed specialist to perform additional procedures to address these issues. (AS 1105.A8a .A8b and .A8c; AS 1201.C6 and .C7) Triennially Inspected 5270 Grant Thornton Auditores Independentes Ltda 2024 Brazil Grant Thornton International Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Assets Significant Risk 2 AS 1105 A8c The firm used an auditor-employed specialist to test the fair value of certain of these assets which was determined by the company's specialist. The auditor-employed specialist's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that it did not (1) evaluate the reasonableness of the significant assumptions developed by the company's specialist (2) evaluate whether the methods used by the company's specialist were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework and (3) test the accuracy and/or completeness of certain issuer-produced data used by the company's specialist. The firm did not perform additional procedures or request the auditor-employed specialist to perform additional procedures to address these issues. (AS 1105.A8a .A8b and .A8c; AS 1201.C6 and .C7) Triennially Inspected 5270 Grant Thornton Auditores Independentes Ltda 2024 Brazil Grant Thornton International Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Assets Significant Risk 2 AS 1201 C6 The firm used an auditor-employed specialist to test the fair value of certain of these assets which was determined by the company's specialist. The auditor-employed specialist's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that it did not (1) evaluate the reasonableness of the significant assumptions developed by the company's specialist (2) evaluate whether the methods used by the company's specialist were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework and (3) test the accuracy and/or completeness of certain issuer-produced data used by the company's specialist. The firm did not perform additional procedures or request the auditor-employed specialist to perform additional procedures to address these issues. (AS 1105.A8a .A8b and .A8c; AS 1201.C6 and .C7) Triennially Inspected 5270 Grant Thornton Auditores Independentes Ltda 2024 Brazil Grant Thornton International Limited 2024-12-19T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Certain Assets Significant Risk 2 AS 1201 C7 The firm used an auditor-employed specialist to test the fair value of certain of these assets which was determined by the company's specialist. The auditor-employed specialist's approach for substantively testing the fair value of these assets was to test the issuer's process. The firm did not sufficiently evaluate the work of the auditor-employed specialist and identify that it did not (1) evaluate the reasonableness of the significant assumptions developed by the company's specialist (2) evaluate whether the methods used by the company's specialist were appropriate under the circumstances taking into account the requirements of the applicable financial reporting framework and (3) test the accuracy and/or completeness of certain issuer-produced data used by the company's specialist. The firm did not perform additional procedures or request the auditor-employed specialist to perform additional procedures to address these issues. (AS 1105.A8a .A8b and .A8c; AS 1201.C6 and .C7) Triennially Inspected 6722 SRCO, C.P.A., Professional Corporation 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with a single deficiency Share-Based Compensation 1 AS 2301 8 The issuer recorded share-based compensation expense. The firm did not evaluate whether the grant date used by the issuer to measure the share-based compensation was in conformity with FASB ASC Topic 718 Compensation—Stock Compensation. (AS 2301.08) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 10 The issuer recognized several types of revenue. The following deficiency was identified: · The firm did not perform procedures to test or identify and test any controls over the completeness of a report from which it made its selections to test two types of revenue. (AS 1105.10) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 27 The issuer recognized several types of revenue. The following deficiency was identified: · The firm selected key item transactions to test these two types of revenue. The firm did not perform procedures beyond performing cut-off procedures to test the remaining population of revenue transactions to address the assessed risk of material misstatement. (AS 1105.27; AS 2301.08 and .13) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The issuer recognized several types of revenue. The following deficiency was identified: · The firm selected key item transactions to test these two types of revenue. The firm did not perform procedures beyond performing cut-off procedures to test the remaining population of revenue transactions to address the assessed risk of material misstatement. (AS 1105.27; AS 2301.08 and .13) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The issuer recognized several types of revenue. The following deficiency was identified: · The firm selected key item transactions to test these two types of revenue. The firm did not perform procedures beyond performing cut-off procedures to test the remaining population of revenue transactions to address the assessed risk of material misstatement. (AS 1105.27; AS 2301.08 and .13) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 The issuer recognized several types of revenue. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate whether the issuer's accounting for one of these types of revenue as the principal rather than as an agent was appropriate because the firm concluded that the issuer had the ability to direct and control the goods or services but it did not perform any procedures to support this conclusion. (AS 2301.08 and .13) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 13 The issuer recognized several types of revenue. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate whether the issuer's accounting for one of these types of revenue as the principal rather than as an agent was appropriate because the firm concluded that the issuer had the ability to direct and control the goods or services but it did not perform any procedures to support this conclusion. (AS 2301.08 and .13) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 8 The issuer recognized several types of revenue. The following deficiency was identified: · The firm did not perform procedures to evaluate the issuer's determination of the transaction price for a sample of transactions for a third type of revenue. (AS 2301.08 and .13) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2301 13 The issuer recognized several types of revenue. The following deficiency was identified: · The firm did not perform procedures to evaluate the issuer's determination of the transaction price for a sample of transactions for a third type of revenue. (AS 2301.08 and .13) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 5 AS 1105 A8b The issuer engaged a valuation specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm did not perform any procedures to evaluate the reasonableness of significant assumptions developed by the company's specialist. (AS 1105.A8b) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 6 AS 1105 A8a The issuer engaged a valuation specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm did not perform any procedures to evaluate the relevance and reliability of data from sources external to the issuer that were used by the company's specialist in developing significant assumptions. (AS 1105.A8a) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Certain Assets 7 AS 2501 16 The issuer engaged a valuation specialist to determine the fair value of certain assets. The following deficiency was identified: · The firm did not perform procedures beyond inquiry to evaluate the reasonableness of a significant assumption developed by the issuer. (AS 2501.16) Triennially Inspected 6849 Hudgens CPA, PLLC 2024 United States 2024-12-19T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Journal Entries Fraud Risk 8 AS 2401 61 The firm identified fraud criteria for journal entries. The firm did not perform sufficient procedures to test the journal entries that met the criteria because it limited its procedures to certain journal entries without having an appropriate rationale. (AS 2401.61) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 1 AS 1105 4 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the relevance and reliability of certain data included in one of the issuer-prepared reports ('invoice detailed report') used in its substantive testing of revenue and accounts receivable because the firm did not test the validity of the information used to evaluate the relevance and reliability of the data. (AS 1105.04 and .06) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 4 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the relevance and reliability of certain data included in one of the issuer-prepared reports ('invoice detailed report') used in its substantive testing of revenue and accounts receivable because the firm did not test the validity of the information used to evaluate the relevance and reliability of the data. (AS 1105.04 and .06) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 1 AS 1105 6 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the relevance and reliability of certain data included in one of the issuer-prepared reports ('invoice detailed report') used in its substantive testing of revenue and accounts receivable because the firm did not test the validity of the information used to evaluate the relevance and reliability of the data. (AS 1105.04 and .06) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 1105 6 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the relevance and reliability of certain data included in one of the issuer-prepared reports ('invoice detailed report') used in its substantive testing of revenue and accounts receivable because the firm did not test the validity of the information used to evaluate the relevance and reliability of the data. (AS 1105.04 and .06) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable 2 AS 1105 10 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform procedures to test or test any controls over the accuracy and completeness of (1) the invoice detailed report used in its substantive testing of revenue and accounts receivable and (2) another issuer-prepared report used in its substantive testing of revenue. (AS 1105.10) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 10 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · The firm did not perform procedures to test or test any controls over the accuracy and completeness of (1) the invoice detailed report used in its substantive testing of revenue and accounts receivable and (2) another issuer-prepared report used in its substantive testing of revenue. (AS 1105.10) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 8 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · For certain revenue transactions selected for testing the firm did not perform procedures to test whether (1) a sales contract existed with the customer and (2) the issuer had satisfied its performance obligation prior to recognizing revenue beyond agreeing the transactions or related purchase order information to the invoice detailed report referred to above. (AS 2301.08 and .13) Triennially Inspected 572 Weinberg & Company, P.A. 2023 United States 2024-12-05T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2301 13 To test revenue and accounts receivable the firm performed tests of details over a sample of revenue transactions and confirmed a sample of customer receivables using certain issuer-prepared reports. The following deficiency was identified: · For certain revenue transactions selected for testing the firm did not perform procedures to test whether (1) a sales contract existed with the customer and (2) the issuer had satisfied its performance obligation prior to recognizing revenue beyond agreeing the transactions or related purchase order information to the invoice detailed report referred to above. (AS 2301.08 and .13) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Fraud Risk 1 AS 2201 42 The firm selected for testing certain controls over the reconciliation and/or review of various accounts including certain accounts related to revenue and inventory. The firm 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) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2201 42 The firm selected for testing certain controls over the reconciliation and/or review of various accounts including certain accounts related to revenue and inventory. The firm 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) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Fraud Risk 1 AS 2201 44 The firm selected for testing certain controls over the reconciliation and/or review of various accounts including certain accounts related to revenue and inventory. The firm 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) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 1 AS 2201 44 The firm selected for testing certain controls over the reconciliation and/or review of various accounts including certain accounts related to revenue and inventory. The firm 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) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Fraud Risk 2 AS 2201 39 The firm did not identify and test any controls over (1) the accuracy and completeness of issuer-produced information used in the operation of the above controls and (2) the relevance and reliability of certain external information related to inventory used in the operation of one of the above controls. (AS 2201.39) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue and Related Accounts Fraud Risk 2 AS 2201 39 The firm did not identify and test any controls over (1) the accuracy and completeness of issuer-produced information used in the operation of the above controls and (2) the relevance and reliability of certain external information related to inventory used in the operation of one of the above controls. (AS 2201.39) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Fraud Risk 3 AS 1105 10 The issuer recorded an inventory reserve and the firm's approach for substantively testing the inventory reserve was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to test or (as discussed above) identify and test controls over the accuracy and completeness of certain issuer-produced information used by the issuer to develop the inventory reserve. (AS 1105.10) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Fraud Risk 4 AS 1105 4 The issuer recorded an inventory reserve and the firm's approach for substantively testing the inventory reserve was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate or (as discussed above) identify and test controls over the relevance and reliability of certain external information that the issuer used to develop the inventory reserve. (AS 1105.04 and.06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Fraud Risk 4 AS 1105 6 The issuer recorded an inventory reserve and the firm's approach for substantively testing the inventory reserve was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate or (as discussed above) identify and test controls over the relevance and reliability of certain external information that the issuer used to develop the inventory reserve. (AS 1105.04 and.06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Fraud Risk 5 AS 2501 16 The issuer recorded an inventory reserve and the firm's approach for substantively testing the inventory reserve was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the significant assumptions. (AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm did not perform sufficient substantive procedures to evaluate whether certain revenue was recognized in conformity with IFRS 15 Revenue from Contracts with Customers because it did not evaluate beyond reading the issuer's revenue recognition policy (1) each party's rights regarding the goods or services to be transferred and (2) the payment terms for the goods or services to be transferred. (AS 2301.08 and .13) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm did not perform sufficient substantive procedures to evaluate whether certain revenue was recognized in conformity with IFRS 15 Revenue from Contracts with Customers because it did not evaluate beyond reading the issuer's revenue recognition policy (1) each party's rights regarding the goods or services to be transferred and (2) the payment terms for the goods or services to be transferred. (AS 2301.08 and .13) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2310 29 To evaluate the reliability of certain external information the firm used to test revenue the firm sent a positive confirmation request to the external party and received an electronic response. The firm did not consider performing procedures to address the risks associated with the electronic response such as verifying the source and contents of the confirmation response. (AS 2310.29) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 4 The firm did not perform any procedures to evaluate the reliability of certain external information it used to test revenue. (AS 1105.04 and .06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 6 The firm did not perform any procedures to evaluate the reliability of certain external information it used to test revenue. (AS 1105.04 and .06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2305 16 The firm's substantive procedures to test this revenue included performing a substantive analytical procedure. The firm used external data in developing its expectation but did not perform any procedures to evaluate the reliability of that data. (AS 2305.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 19 The sample size the firm used in one of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of reliance on evidence from other substantive procedures that was not supported due to the deficiency in the firm's substantive analytical procedure discussed above. (AS 2315.19 .23 and .23A) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23 The sample size the firm used in one of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of reliance on evidence from other substantive procedures that was not supported due to the deficiency in the firm's substantive analytical procedure discussed above. (AS 2315.19 .23 and .23A) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 5 AS 2315 23A The sample size the firm used in one of its substantive procedures to test revenue was too small to provide sufficient appropriate audit evidence because this procedure was designed based on a level of reliance on evidence from other substantive procedures that was not supported due to the deficiency in the firm's substantive analytical procedure discussed above. (AS 2315.19 .23 and .23A) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 6 AS 2501 16 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of a significant assumption developed by the issuer because it did not evaluate the significant difference between it and a significant assumption used by the issuer in another estimate tested. (AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 7 AS 2501 16 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not perform procedures beyond inquiry to evaluate the reasonableness of certain other significant assumptions developed by the issuer. (AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 8 AS 2501 16 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not perform procedures to evaluate whether the issuer had a reasonable basis for another significant assumption it developed. (AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 4 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 6 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A1 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A10 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A2 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A3 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A4 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A5 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A6 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A7 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A8 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1105 A9 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1201 C6 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 1201 C7 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 9 AS 2501 16 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate the reasonableness of another significant assumption because it did not identify that the auditor-employed specialist did not (1) evaluate the relevance of certain internal and external information it used to evaluate the reasonableness of the assumption and (2) evaluate significant differences between the assumption and both external information it obtained and information provided by the company's specialist. Further the firm did not perform procedures to use the work of the company's specialist as audit evidence. (AS 1105.04 .06 and .A1-.A10; AS 1201.C6 and .C7; AS 2501.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 10 AS 1201 C6 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate whether the method used by the issuer to perform its quantitative assessment was in conformity with International Accounting Standard (IAS) 36 Impairment of Assets because it did not identify that the auditor-employed specialist did not evaluate the effect on the quantitative assessment resulting from departures from IAS 36 it identified in the issuer's method. (AS 1201.C6 and .C7; AS 2501.10) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 10 AS 1201 C7 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate whether the method used by the issuer to perform its quantitative assessment was in conformity with International Accounting Standard (IAS) 36 Impairment of Assets because it did not identify that the auditor-employed specialist did not evaluate the effect on the quantitative assessment resulting from departures from IAS 36 it identified in the issuer's method. (AS 1201.C6 and .C7; AS 2501.10) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 10 AS 2501 10 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not sufficiently evaluate whether the method used by the issuer to perform its quantitative assessment was in conformity with International Accounting Standard (IAS) 36 Impairment of Assets because it did not identify that the auditor-employed specialist did not evaluate the effect on the quantitative assessment resulting from departures from IAS 36 it identified in the issuer's method. (AS 1201.C6 and .C7; AS 2501.10) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 11 AS 1105 4 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not evaluate the relevance and/or reliability of certain external information it used to test the quantitative assessment. (AS 1105.04 and .06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 11 AS 1105 6 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not evaluate the relevance and/or reliability of certain external information it used to test the quantitative assessment. (AS 1105.04 and .06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 12 AS 1105 10 The issuer performed a quantitative assessment of impairment of certain long-lived assets and engaged an external specialist to provide information it used to develop an assumption. The firm's approach for substantively testing the impairment of long-lived assets was to test the issuer's process and the firm used an auditor-employed specialist to evaluate the methodology used by the issuer and a significant assumption the issuer developed. The following deficiency was identified: · The firm did not perform procedures to test or test any controls over the accuracy and completeness of issuer-produced data used by the issuer to develop a significant assumption used in its quantitative assessment. (AS 1105.10) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Long-Lived Assets Significant Risk 13 AS 2301 8 The firm did not evaluate the appropriateness of the presentation of certain long-lived assets. (AS 2301.08) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The issuer recognized multiple types of revenue. The following deficiency was identified: · For one type of revenue the firm did not perform procedures to evaluate whether the underlying contracts represented contracts with an identifiable customer in accordance with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The issuer recognized multiple types of revenue. The following deficiency was identified: · For one type of revenue the firm did not perform procedures to evaluate whether the underlying contracts represented contracts with an identifiable customer in accordance with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 4 The issuer recognized multiple types of revenue. The following deficiency was identified: · The firm did not perform substantive procedures to evaluate the relevance and/or reliability of certain external information it used to test two types of revenue. (AS 1105.04 and.06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 1105 6 The issuer recognized multiple types of revenue. The following deficiency was identified: · The firm did not perform substantive procedures to evaluate the relevance and/or reliability of certain external information it used to test two types of revenue. (AS 1105.04 and.06) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2305 16 The issuer recognized multiple types of revenue. The following deficiency was identified: · The firm's substantive procedures to test one type of revenue included performing substantive analytical procedures. The firm used external data in developing its expectation but did not perform any procedures to evaluate the reliability of that data. (AS 2305.16) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A C No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 1105 10 The issuer recognized multiple types of revenue. The following deficiency was identified: · The firm did not perform procedures to test or test any controls over the accuracy and completeness of certain issuer-produced information it used to test two types of revenue. (AS 1105.10) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Investment Securities Significant Risk 1 AS 1105 63 The issuer reported the valuation of certain investments based on investee financial results including unaudited financial statements. The firm did not apply or request that the investor arrange with the investee to have another auditor apply appropriate auditing procedures to the unaudited financial statements for these investees. (AS 1105.63) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 2 AS 1105 A8a The issuer engaged a specialist to develop an estimate of a significant account. The firm selected a sample to test the accuracy and completeness of certain data used by the company's specialist. The firm did not sufficiently test the accuracy and completeness of this data because it selected its sample from a sub-population of the data. (AS 1105.A8a) Triennially Inspected 32 Armanino LLP 2023 United States 2024-11-21T00:00:00 Part I.A D No Financial statement audit only Audits with multiple deficiencies Significant Account Significant Risk 3 AS 1105 A8a The issuer engaged a specialist to develop an estimate of a significant account. The firm selected a sample to test the accuracy and completeness of certain data used by the company's specialist. The firm did not test the accuracy of certain other data that the company's specialist used to develop a significant assumption. (AS 1105.A8a) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Change Management 1 AS 2201 42 The issuer used certain information technology (IT) systems to initiate process and record transactions related to (1) fee and commission income and related receivables and (2) realized and unrealized gain and losses and interest income. The firm selected for testing certain IT change management controls over these IT systems that consisted of the review testing and approval of changes prior to their migration into production. The following deficiency was identified: · The firm did not perform procedures to test the design and operating effectiveness of a control related to user access beyond observation of one individual's attempt to log in to the production and development environments. (AS 2201.42 and .44) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Change Management 1 AS 2201 44 The issuer used certain information technology (IT) systems to initiate process and record transactions related to (1) fee and commission income and related receivables and (2) realized and unrealized gain and losses and interest income. The firm selected for testing certain IT change management controls over these IT systems that consisted of the review testing and approval of changes prior to their migration into production. The following deficiency was identified: · The firm did not perform procedures to test the design and operating effectiveness of a control related to user access beyond observation of one individual's attempt to log in to the production and development environments. (AS 2201.42 and .44) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Change Management 2 AS 1105 10 The issuer used certain information technology (IT) systems to initiate process and record transactions related to (1) fee and commission income and related receivables and (2) realized and unrealized gain and losses and interest income. The firm selected for testing certain IT change management controls over these IT systems that consisted of the review testing and approval of changes prior to their migration into production. The following deficiency was identified: · The firm did not test or in the alternative identify and test any controls over the completeness of information that it used to make its selections for testing a control over change management. (AS 1105.10) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Change Management 3 AS 1105 10 The issuer used certain information technology (IT) systems to initiate process and record transactions related to (1) fee and commission income and related receivables and (2) realized and unrealized gain and losses and interest income. The firm selected for testing certain IT change management controls over these IT systems that consisted of the review testing and approval of changes prior to their migration into production. The following deficiency was identified: · The firm selected for testing a control over change management for one of these systems but did not perform any 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) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Change Management 4 AS 2201 39 The issuer used certain information technology (IT) systems to initiate process and record transactions related to (1) fee and commission income and related receivables and (2) realized and unrealized gain and losses and interest income. The firm selected for testing certain IT change management controls over these IT systems that consisted of the review testing and approval of changes prior to their migration into production. The following deficiency was identified: · The firm did not identify and test a control to address the review and approval of changes other than configuration for certain of these systems. (AS 2201.39) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 5 AS 2201 42 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm selected for testing controls over the reconciliation and/or review of information related to fee and commission income and related receivables. The firm did not evaluate the review procedures that the control owners performed including the procedures to identify items for follow up and whether those items were appropriately resolved. (AS 2201.42 and .44) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 5 AS 2201 44 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm selected for testing controls over the reconciliation and/or review of information related to fee and commission income and related receivables. The firm did not evaluate the review procedures that the control owners performed including the procedures to identify items for follow up and whether those items were appropriately resolved. (AS 2201.42 and .44) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 6 AS 1105 10 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · As a result of the firm's ITGC testing deficiencies discussed above for fee and commission income and related receivables the firm did not perform procedures to test or sufficiently test controls over the accuracy and completeness of certain system-generated data the firm used in its substantive procedures. (AS 1105.10) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 7 AS 2301 8 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test fee and commission income from non-related parties beyond comparing the amounts to issuer-produced information. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 7 AS 2301 13 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test fee and commission income from non-related parties beyond comparing the amounts to issuer-produced information. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 8 AS 2301 8 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test the occurrence of fee and commission income from related parties beyond comparing the amounts to issuer-produced information and obtaining customer commission agreements. (AS 2301.08 and .13; AS 2410.12) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 8 AS 2301 13 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test the occurrence of fee and commission income from related parties beyond comparing the amounts to issuer-produced information and obtaining customer commission agreements. (AS 2301.08 and .13; AS 2410.12) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 8 AS 2410 12 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test the occurrence of fee and commission income from related parties beyond comparing the amounts to issuer-produced information and obtaining customer commission agreements. (AS 2301.08 and .13; AS 2410.12) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 9 AS 1105 4 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to evaluate the relevance and reliability of securities pricing obtained from external sources that it used to test the accuracy of fee and commission income from related parties. (AS 1105.04 and .06) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 9 AS 1105 6 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to evaluate the relevance and reliability of securities pricing obtained from external sources that it used to test the accuracy of fee and commission income from related parties. (AS 1105.04 and .06) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 10 AS 2810 30 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures related to fee and commission income required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 10 AS 2810 31 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not identify and evaluate the issuer's omission of certain disclosures related to fee and commission income required by FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2810.30 and .31) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Fee and Commission Income and Related Receivables Fraud Risk 11 AS 2410 12 For fee and commission income and related receivables the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test receivables due from a related party beyond confirming the amount with an individual who was an executive officer of the issuer and an employee of the related party. (AS 2410.12) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 12 AS 2201 42 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm selected for testing controls over the reconciliation and/or review of information related to realized and unrealized gains and losses and interest income. The firm 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) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 12 AS 2201 42 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm selected for testing controls over the reconciliation and/or review of information related to realized and unrealized gains and losses and interest income. The firm 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) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 12 AS 2201 44 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm selected for testing controls over the reconciliation and/or review of information related to realized and unrealized gains and losses and interest income. The firm 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) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 12 AS 2201 44 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm selected for testing controls over the reconciliation and/or review of information related to realized and unrealized gains and losses and interest income. The firm 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) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 13 AS 2301 8 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test realized gains and losses because it limited its procedures to recalculating the gains or losses for a sample of transactions based on issuer-produced information or information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 13 AS 2301 8 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test realized gains and losses because it limited its procedures to recalculating the gains or losses for a sample of transactions based on issuer-produced information or information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 13 AS 2301 13 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test realized gains and losses because it limited its procedures to recalculating the gains or losses for a sample of transactions based on issuer-produced information or information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 13 AS 2301 13 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test realized gains and losses because it limited its procedures to recalculating the gains or losses for a sample of transactions based on issuer-produced information or information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 14 AS 2301 8 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform any procedures to test the unrealized gains and losses at year end. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 14 AS 2301 8 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform any procedures to test the unrealized gains and losses at year end. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 14 AS 2301 13 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform any procedures to test the unrealized gains and losses at year end. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 14 AS 2301 13 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform any procedures to test the unrealized gains and losses at year end. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 15 AS 2301 8 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test interest income because it limited its procedures to recalculating interest income for a sample of transactions and tracing data used in the recalculation to information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 15 AS 2301 8 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test interest income because it limited its procedures to recalculating interest income for a sample of transactions and tracing data used in the recalculation to information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 15 AS 2301 13 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test interest income because it limited its procedures to recalculating interest income for a sample of transactions and tracing data used in the recalculation to information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 15 AS 2301 13 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform sufficient procedures to test interest income because it limited its procedures to recalculating interest income for a sample of transactions and tracing data used in the recalculation to information obtained from external sources. (AS 2301.08 and .13) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 16 AS 1105 4 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to evaluate the relevance and reliability of information it obtained from external sources that it used in its testing. (AS 1105.04 and .06) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 16 AS 1105 4 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to evaluate the relevance and reliability of information it obtained from external sources that it used in its testing. (AS 1105.04 and .06) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 16 AS 1105 6 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to evaluate the relevance and reliability of information it obtained from external sources that it used in its testing. (AS 1105.04 and .06) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 16 AS 1105 6 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to evaluate the relevance and reliability of information it obtained from external sources that it used in its testing. (AS 1105.04 and .06) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Interest Income Fraud Risk 17 AS 1105 10 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test or identify and test any controls over the accuracy and completeness of certain system-generated data used in the firm's testing. (AS 1105.10) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Realized and Unrealized Gains and Losses Fraud Risk 17 AS 1105 10 For realized and unrealized gains and losses and interest income the following additional deficiency related to the firm's testing of controls and substantive testing were identified: · The firm did not perform procedures to test or identify and test any controls over the accuracy and completeness of certain system-generated data used in the firm's testing. (AS 1105.10) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Planned Divestiture of Certain Subsidiaries 18 AS 2201 39 The issuer planned to divest of its interest in certain subsidiaries. The firm did not identify and test a control that addressed whether the assets and liabilities of these subsidiaries met the held for sale criteria and should have been presented as discontinued operations in the financial statements in accordance with FASB ASC Topic 205 Presentation of Financial Statements. (AS 2201.39) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Planned Divestiture of Certain Subsidiaries 19 AS 2301 8 The issuer planned to divest of its interest in certain subsidiaries. The firm did not perform substantive procedures to evaluate whether the assets and liabilities of these subsidiaries met the held for sale criteria and should have been presented as discontinued operations in the financial statements in accordance with FASB ASC Topic 205. (AS 2301.08) Triennially Inspected 374 WSRP, LLC 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Journal Entries Fraud Risk 20 AS 2401 61 The firm identified fraud criteria for journal entries and obtained a listing of all journal entries that met the criteria. The firm did not perform sufficient substantive procedures to test those journal entries because it limited its procedures to certain journal entries without having an appropriate rationale. (AS 2401.61) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 39 The firm selected for testing controls that consisted of the issuer's review of revenue recognized over time. The firm did not identify and test any controls over the accuracy and completeness of the reports that the control owners used in the operation of these controls. (AS 2201.39) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Significant Risk 1 AS 2201 39 The firm selected for testing controls that consisted of the issuer's review of revenue recognized over time. The firm did not identify and test any controls over the accuracy and completeness of the reports that the control owners used in the operation of these controls. (AS 2201.39) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 2 AS 2201 39 The firm selected for testing controls that consisted of the issuer's review of inventory. The firm did not identify and test any controls over the accuracy and completeness of the reports that the control owners used in the operation of these controls. (AS 2201.39) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 3 AS 2201 39 The firm selected for testing controls that consisted of the issuer's review of inventory. The firm did not identify and test any controls to address whether inventory was recorded at the lower of cost or net realizable value. (AS 2201.39) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A A No Both financial statement and ICFR audits Audits with multiple deficiencies Inventory Significant Risk 4 AS 2501 16 The issuer recognized an allowance for slow-moving and obsolete inventories that included a general reserve. The firm did not evaluate the reasonableness of the significant assumptions the issuer used to develop the general reserve. (AS 2501.16) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 1 AS 1210 9 The issuer reported a significant account at fair value. The firm's approach to substantively testing the fair value of this account was to test the issuer's process and the firm engaged an external specialist to evaluate certain of the significant assumptions that the issuer used to develop the fair value. The following deficiency was identified: · The firm did not identify that the auditor-engaged specialist did not perform procedures beyond inquiry to evaluate the reasonableness of certain significant assumptions the issuer used to develop the fair value of this account and perform additional procedures or request the auditor-engaged specialist to perform additional procedures to address the issue. (AS 1210.09 and .12; AS 2501.16) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 1 AS 1210 12 The issuer reported a significant account at fair value. The firm's approach to substantively testing the fair value of this account was to test the issuer's process and the firm engaged an external specialist to evaluate certain of the significant assumptions that the issuer used to develop the fair value. The following deficiency was identified: · The firm did not identify that the auditor-engaged specialist did not perform procedures beyond inquiry to evaluate the reasonableness of certain significant assumptions the issuer used to develop the fair value of this account and perform additional procedures or request the auditor-engaged specialist to perform additional procedures to address the issue. (AS 1210.09 and .12; AS 2501.16) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 1 AS 2501 16 The issuer reported a significant account at fair value. The firm's approach to substantively testing the fair value of this account was to test the issuer's process and the firm engaged an external specialist to evaluate certain of the significant assumptions that the issuer used to develop the fair value. The following deficiency was identified: · The firm did not identify that the auditor-engaged specialist did not perform procedures beyond inquiry to evaluate the reasonableness of certain significant assumptions the issuer used to develop the fair value of this account and perform additional procedures or request the auditor-engaged specialist to perform additional procedures to address the issue. (AS 1210.09 and .12; AS 2501.16) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 2 AS 1105 10 The issuer reported a significant account at fair value. The firm's approach to substantively testing the fair value of this account was to test the issuer's process and the firm engaged an external specialist to evaluate certain of the significant assumptions that the issuer used to develop the fair value. The following deficiency was identified: · The firm did not perform procedures to test or in the alternative identify and test controls over the accuracy and completeness of certain issuer-produced information the issuer used to develop the fair value of this account. (AS 1105.10) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 3 AS 1105 4 The issuer reported a significant account at fair value. The firm's approach to substantively testing the fair value of this account was to test the issuer's process and the firm engaged an external specialist to evaluate certain of the significant assumptions that the issuer used to develop the fair value. The following deficiency was identified: · The firm did not perform procedures to evaluate the relevance and reliability of certain information from external sources the issuer used to develop the fair value of this account. (AS 1105.04 and .06) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 3 AS 1105 6 The issuer reported a significant account at fair value. The firm's approach to substantively testing the fair value of this account was to test the issuer's process and the firm engaged an external specialist to evaluate certain of the significant assumptions that the issuer used to develop the fair value. The following deficiency was identified: · The firm did not perform procedures to evaluate the relevance and reliability of certain information from external sources the issuer used to develop the fair value of this account. (AS 1105.04 and .06) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 4 AS 2501 16 The issuer reported a significant account at fair value. The firm's approach to substantively testing the fair value of this account was to test the issuer's process and the firm engaged an external specialist to evaluate certain of the significant assumptions that the issuer used to develop the fair value. The following deficiency was identified: · The firm did not perform procedures beyond a comparison to prior year amounts to evaluate the reasonableness of certain components of a significant assumption the issuer used to develop the fair value of this account. (AS 2501.16) Triennially Inspected 569 MSL, P.A. 2024 United States 2024-11-21T00:00:00 Part I.A B No Financial statement audit only Audits with multiple deficiencies Significant Accounts Significant Risk 5 AS 2501 7 The firm did not perform substantive procedures beyond certain recalculations to test the valuation of certain other significant accounts. (AS 2501.07) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not perform any procedures to evaluate whether the issuer's recognition of certain revenue was in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm did not perform any procedures to evaluate whether the issuer's recognition of certain revenue was in conformity with FASB ASC Topic 606 Revenue from Contracts with Customers. (AS 2301.08 and .13) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain revenue recognized over time the firm did not evaluate whether there were significant judgments used by the issuer in determining the timing of satisfaction of performance obligations and whether all applicable required disclosures were made. (AS 2301.08 and .13) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2301 13 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. With respect to certain revenue recognized over time the firm did not evaluate whether there were significant judgments used by the issuer in determining the timing of satisfaction of performance obligations and whether all applicable required disclosures were made. (AS 2301.08 and .13) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 3 AS 2310 26 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm sent positive confirmation requests to a sample of customers as part of its testing of revenue. The following deficiency was identified: · The firm did not perform procedures to determine whether certain of the confirmation requests were directed to third parties who were knowledgeable about the information to be confirmed. (AS 2310.26) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 4 AS 2310 29 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The firm sent positive confirmation requests to a sample of customers as part of its testing of revenue. The following deficiency was identified: · The firm received an electronic response to one confirmation request. The firm did not consider performing procedures to address the risks associated with an electronic response such as verifying the source and contents of the confirmation response. (AS 2310.29) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Significant Risk 5 AS 2501 16 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer recorded an allowance for expected credit losses related to accounts receivable which was based in part on significant assumptions regarding default rates. The issuer assigned credit rating categories to each receivable based on whether or not the customer had made payments and assigned a default rate to each customer's receivable based on that assigned category which was based on information from an external source. The firm's approach to test the allowance for expected credit losses was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of the significant assumption used by the issuer related to default rates beyond comparing the rates to data from the external source that the issuer used to develop the rates. (AS 2501.16) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Significant Risk 6 AS 1105 4 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer recorded an allowance for expected credit losses related to accounts receivable which was based in part on significant assumptions regarding default rates. The issuer assigned credit rating categories to each receivable based on whether or not the customer had made payments and assigned a default rate to each customer's receivable based on that assigned category which was based on information from an external source. The firm's approach to test the allowance for expected credit losses was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the relevance of the credit rating categories from the external source that the issuer used in determining the default rates. (AS 1105.04 and .06) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Significant Risk 6 AS 1105 6 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer recorded an allowance for expected credit losses related to accounts receivable which was based in part on significant assumptions regarding default rates. The issuer assigned credit rating categories to each receivable based on whether or not the customer had made payments and assigned a default rate to each customer's receivable based on that assigned category which was based on information from an external source. The firm's approach to test the allowance for expected credit losses was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to evaluate the relevance of the credit rating categories from the external source that the issuer used in determining the default rates. (AS 1105.04 and .06) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Significant Risk 7 AS 1105 10 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer recorded an allowance for expected credit losses related to accounts receivable which was based in part on significant assumptions regarding default rates. The issuer assigned credit rating categories to each receivable based on whether or not the customer had made payments and assigned a default rate to each customer's receivable based on that assigned category which was based on information from an external source. The firm's approach to test the allowance for expected credit losses was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures to test or test any controls over the accuracy of certain information used by the issuer in calculating a component of its allowance for expected credit losses. (AS 1105.10) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Accounts Receivable Significant Risk 8 AS 2301 8 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer recorded an allowance for expected credit losses related to accounts receivable which was based in part on significant assumptions regarding default rates. The issuer assigned credit rating categories to each receivable based on whether or not the customer had made payments and assigned a default rate to each customer's receivable based on that assigned category which was based on information from an external source. The firm's approach to test the allowance for expected credit losses was to test the issuer's process. The following deficiency was identified: · The firm did not perform procedures beyond comparison to an issuer-prepared schedule to test the issuer's presentation of certain items related to accounts receivable and the allowance for expected credit losses in the statement of cash flows. (AS 2301.08) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 9 AS 2501 10 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer reported intangible assets and evaluated them for impairment using undiscounted cash flow analyses. The firm's approach to test the issuer's impairment analyses was to test the issuer's process. The firm did not sufficiently evaluate whether the method used by the issuer to develop the impairment analyses was in conformity with GAAP as it did not evaluate whether the method was in conformity with certain applicable requirements of FASB ASC Topic 350 Intangibles—Goodwill and Other and FASB ASC Topic 360 Property Plant and Equipment. (AS 2501.10) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Intangible Assets Significant Risk 10 AS 2501 16 The firm's internal inspection program had inspected this audit and reviewed these areas but did not identify the deficiencies below. The issuer reported intangible assets and evaluated them for impairment using undiscounted cash flow analyses. The firm's approach to test the issuer's impairment analyses was to test the issuer's process. The firm did not perform procedures beyond inquiry to evaluate the reasonableness of significant assumptions related to the undiscounted cash flow projections used by the issuer to develop the impairment analyses. (AS 2501.16) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 42 The firm selected for testing a control that consisted of management's review of a reconciliation related to revenue. The firm did not (1) evaluate the specific review procedures that the control owner 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) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2201 44 The firm selected for testing a control that consisted of management's review of a reconciliation related to revenue. The firm did not (1) evaluate the specific review procedures that the control owner 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) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 2 AS 2201 39 The firm selected for testing a control that consisted of management's review of a reconciliation related to revenue. The firm did not identify and test any controls over the accuracy and completeness of the data used in the operation of the control. (AS 2201.39) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Revenue Fraud Risk 3 AS 1105 10 The firm selected for testing a control over sales invoices. The firm did not perform procedures to test or identify and test controls over the completeness of the issuer-produced sales invoice listing used in its testing of the control. (AS 1105.10) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 4 AS 2201 42 The firm selected for testing a review control over purchases and disposals of long-lived assets. The firm did not test the aspect of this control related to the control owner's review of the summary of activity or transaction details supporting the control. (AS 2201.42 and .44) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 4 AS 2201 44 The firm selected for testing a review control over purchases and disposals of long-lived assets. The firm did not test the aspect of this control related to the control owner's review of the summary of activity or transaction details supporting the control. (AS 2201.42 and .44) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 5 AS 2501 16 The issuer developed undiscounted cash flows to evaluate certain long-lived assets for potential impairment. The following deficiency was identified: · The firm did not perform procedures to evaluate the reasonableness of significant assumptions related to daily revenue rates beyond comparing the rates used by the issuer to rates obtained from the external source that the issuer used to develop the assumptions. (AS 2501.16) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 6 AS 1105 4 The issuer developed undiscounted cash flows to evaluate certain long-lived assets for potential impairment. The following deficiency was identified: · The firm did not perform procedures to evaluate the relevance and reliability of the rates obtained from the external source. (AS 1105.04 and .06) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 6 AS 1105 6 The issuer developed undiscounted cash flows to evaluate certain long-lived assets for potential impairment. The following deficiency was identified: · The firm did not perform procedures to evaluate the relevance and reliability of the rates obtained from the external source. (AS 1105.04 and .06) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Long-Lived Assets Significant Risk 7 AS 2501 16 The issuer developed undiscounted cash flows to evaluate certain long-lived assets for potential impairment. The following deficiency was identified: · The firm did not perform sufficient procedures to evaluate the reasonableness of significant assumptions related to certain expense rates because it limited its procedures to comparing the rates to the actual operating expenses during the year and the issuer's budget without evaluating whether the issuer had a reasonable basis for the assumptions in the budget. (AS 2501.16) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Evaluating Control Deficiencies 8 AS 2201 62 The firm identified control deficiencies related to significant accounts and in areas of significant risk. The firm did not provide a reasonable basis to support its conclusion that the magnitude of the potential misstatements resulting from the control deficiencies was not material. (AS 2201.62) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Evaluating Control Deficiencies 9 AS 2201 68 The firm identified deficiencies in the design and operating effectiveness of controls related to revenue and long-lived assets. The firm identified and tested two review controls that it believed would mitigate the deficiencies ('compensating controls'). The following deficiency was identified: · For one control the firm did not perform procedures to evaluate the review procedures that the control owner performed to be able to conclude that the compensating control mitigated the identified control deficiency. (AS 2201.68) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Evaluating Control Deficiencies 10 AS 2201 68 The firm identified deficiencies in the design and operating effectiveness of controls related to revenue and long-lived assets. The firm identified and tested two review controls that it believed would mitigate the deficiencies ('compensating controls'). The following deficiency was identified: · The firm did not identity and test any controls over the accuracy and completeness of the supporting documentation used in the performance of this control. (AS 2201.68) Triennially Inspected 717 MSPC, Certified Public Accountants and Advisors, A Professional Corporation 2024 United States 2024-11-21T00:00:00 Part I.A B No Both financial statement and ICFR audits Audits with multiple deficiencies Evaluating Control Deficiencies 11 AS 2201 68 The firm identified deficiencies in the design and operating effectiveness of controls related to revenue and long-lived assets. The firm identified and tested two review controls that it believed would mitigate the deficiencies ('compensating controls'). The following deficiency was identified: · For another control the firm did not identify that this control did not address the identified control deficiencies related to revenues and long-lived assets. (AS 2201.68) Triennially Inspected 718 Kerber, Eck & Braeckel LLP 2024 United States 2024-11-21T00:00:00 Part I.A A No Financial statement audit only Audits with multiple deficiencies Revenue Fraud Risk 1 AS 2305 13 The issuer recorded multiple types of revenue. For premium revenue the firm's primary substantive procedure consisted of analytical procedures. The following deficiency was identified: · The expectations the firm used were not sufficiently precise because although disaggregated the firm's procedures consisted of comparisons of amounts and certain ratios to prior years without determining whether the prior-year amounts and ratios were sufficiently predictive of current-year amounts and ratios. (AS 2305.13 and .14) Triennially Inspected 718 Kerber, Eck & Braeckel LLP 2024 United States 2024-11-21T00:00:00 Part I.A A No