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Unformatted text preview: ove present fairly, in all material
respects, the ﬁnancial position of the Company as of December 31, 2011 and 2010, and the results of
its operations and its cash ﬂows for each of the three years in the period ended December 31, 2011,
in conformity with U.S. generally accepted accounting principles. Explanatory paragraph
referring to the audit of
internal control: We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the effectiveness of EarthWear Clothiers’ internal control over ﬁnancial
reporting as of December 31, 2011, based on criteria established in Internal Control—Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO), and our report dated February 15, 2012, expressed an unqualiﬁed opinion that EarthWear
Clothiers maintained, in all material respects, effective internal control over ﬁnancial reporting. Name of auditor: Willis & Adams
Boise, Idaho Date of report: February 15, 2012 Public company-PCAOB Nonpublic--GAAS mes25435_ch01_001-032.indd 23 with U.S. generally accepted accounting principles” indicates the criteria against
which the auditor assesses management assertions. Second,...
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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.