BDO Seidman Inspection Report 2006
BDO Seidman Inspection Report 2006
- Issuer A: FAS109
- Issuer B:
- Issuer C:
- Issuer D:
- Issuer E:
- Issuer F:
- Issuer G: Insufficient evidence for the amortization of the customer-related intangible assets resulting from a series of acquisitions.
- Issuer H: Insufficient evidence for reviewing the valuatio method for the intangible asset acquired through 4 acquisitions. Lack of evidence for testing the amortization method for the intangible assets.
- Issuer I: Insufficient evidence for the valuation analysis for assets acquired from an unrelated entity (including the customer-list intangible asset), appropriateness of the amortization method for the intangible asset. Lack of evidence for evaluating the estimation made for the total costs of the installtion of products and system using the % of completion method.
- Issuer J: No evidence of the revenue cut-off proceddures. Failed to test the substantive testing of the accuracy and completeness of deferred revenues.
- Issuer K: A large acquisition of a foreign company. An outside valuation specialist was used and had provided valuation consultation services before the acquisition. No evidence of testing the document.
