42 PY WP G-7 Cont Liab & Subs Event Memo

42 PY WP G-7 Cont Liab & Subs Event Memo - events...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Apple Blossom Cologne Company G-7 Contingent Liabilities and Subsequent Events  2-5-03        December 31, 2002 JWP Inquiry  was made of Mr. Lancaster, President, Mr. Shelton, Controller, and Ms.  Stockton, Treasurer, concerning possible contingent liabilities and events occurring  subsequent to the balance sheet date that may require accrual or disclosure in the  financial statement.                                                The client's legal counsel, Edwards, Overstreet, and Gilley reported in their letter to  us (Schedule (A.L./G-5)) that they knew of no direct or contingent liabilities arising  from past or present litigation.                    I also examined the minutes of the meetings of the Board of Directors and the  client's contract files, inquired of management, and reviewed subsequent year journals and ledgers, searching for possible contingent liabilities and subsequent 
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: events. Nothing was found to indicate the existence of any contingent liabilities or subsequent events. On the basis of my examination, it is my opinion that no contingent liabilities exist at 12-31-02 and that no subsequent events have occurred requiring accrual or disclosure. Jasper W. Parsons Audit Senior February, 5, 2003 65...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online