She has nanced most of her operations from private

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Unformatted text preview: eir children. She has financed most of her operations from private contributions. Ms. Thompson applied to the State Health and Human Services Department requesting a large grant to expand her two shelters to accommodate more women. In completing the grant application, Ms. Thompson discovered that the state’s laws for government grants require that recipients be audited to ensure that existing funds are being used appropriately. Ms. Thompson hired a CPA to audit the center’s financial statements. Based on the center’s activities, the intended use of the funds, and the auditor’s report, the grant was approved. 3 mes25435_ch01_001-032.indd mes25435_ch01_001-032.indd 3 26/05/11 9:24 PM Confirming Pages 4 Part 1 Introduction to Assurance and Financial Statement Auditing Conway Computer Company is a wholesaler of computer products. The company was started by George and Jimmy Steinbuker five years ago. Two years ago, a venture capital firm acquired 40 percent of the company and thus...
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This note was uploaded on 12/08/2012 for the course ACCT 564 at Washington University in St. Louis.

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