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Phase 5 ProjectComplete Audit and Subsequent Events Colorado Technical University OnlineACCT644-1404B-01: Management Control and AuditingProfessor: Dr. Carla HodgeDecember 21, 2014
Part 1MOHN’S INDEPENDENT AUDITORS’ REPORT TO THE BOARD OF DIRECTORS, STOCKHOLDERS, OWNERS, AND/OR MANAGEMENT OF BOVAR COMPANY123 Executive St.Toledo, OH 43605 United StatesAn audit consists of investigating, on a sample basis, proof that reinforces the figures and disclosures in the fiscal records. An audit also includes assessing the bookkeeping ethics utilized and substantial approximations made by managers, as well as assessing the total fiscal record presentation. We trust that our audits deliver a realistic basis for our opinion.Report on the Financial StatementsWe were engaged to audit the fiscal records of Bovar Company, (an Ohio corporation), which include the balance sheet as of December 31, 2013, and the associated income statement, retained earnings statement, and the cash flows for the same ending period, and the correlating notes to the financial records.Management's Responsibility for the Financial StatementsManagement is accountable for the formulation and fair presentation of these combined financialrecords in agreement with U.S. GAAP; this encompasses the plan, application, and conservation of internal controls that are pertinent to the formulation and fair presentation of combined