{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

L2 Notes_Part_6 - amounts included for those subsidiaries...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Signature/Date Deloitte & Touche August 10, 1996 Engagement Partner’s Audit Firm Last day of fieldwork
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
GAAS Hunt Auditor’s Report To the management of ABC, Inc. We have examined the consolidated balance sheets of ABC, Inc. and subsidiaries as of December 31, 2009 and 2010, and the related consolidated statements of income, retained earnings, and cash flows for the years then ended. These financial statement are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits Our audits were made in accordance with auditing standards generally accepted in the USA as we considered necessary in the circumstances. Other auditors audited the financial statements of certain subsidiaries and have furnished us with reports thereon containing no exceptions. Our opinion expressed herein, insofar as it relates to the
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: amounts included for those subsidiaries, is based solely upon the reports of the other auditors. As fully discussed in the Note 7 to the financial statements, in 2010, the company extended the use of the LIFO method of accounting to include all inventories. In examining inventories, we engaged Dr. Irwin Sam (Nobel Prize winner 2002) to test check the technical requirements and specifications of certain items of equipment manufactured by the company. In our opinion, the financial statements referred to above present fairly the financial position of ABC Inc. As of December 31, 2010 and the results of operations for the years then ended, in conformity with US GAAP. Better and Best, CPA January 25, 2011 Four Categories of Audit Reports Standard Unqualified Unqualified with Explanatory Paragraph or Modified Wording Adverse or Disclaimer Qualified...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern