Therefore the cost of sales is impacted by the

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Therefore, the cost of sales is impacted by the fluctuation of the Chinese currency against the U.S. dollar and the fluctuation of the U.S. dollar against the Canadian dollar. Employees and Locations Dollarama stores has more than 14,000 employees, around 20 employees per store, about a third of them are working part-time. The Dollarama relies on paying as little as possible. Almost all jobs pay the provincial minimum wage—about $8.50. A with overall strategy, the chain’s site selection is a mix of method and expectation. The key thing is to find crowded locations that have a lot of consumer passing by. However, all of their stores are corporate-managed, providing a consistent shopping experience, and nearly all are located in high-traffic areas such as malls and shopping centers in diferent locations, including metropolitan areas, big cities and small towns. The higher sourcing ceiling allowed the company to improve its products and introduce new ones, such as baby slippers, Fisher- Price toys and an expanded selection of pet supplies. "We are - the relationship you can count on" - Chiu & Weisserman, LLP
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Chiu & Weisserman LLP PART THREE "We are - the relationship you can count on" - Chiu & Weisserman, LLP
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Chiu & Weisserman LLP The Audit Plan Prepared by : Anastasia Dorohova 2012/03/15 Planning Memo - Dollarama Inc. Year end : January 31, 2012 Audit engagement Date : March 15th, 2012 @ 10am-12pm Participants : Partner Cindy Chiu Senior Manager Amrit Deol Senior Anadhi Chowdhury Junior Hanan Masoud Junior Anastasia Dorohova C&W met up in the office on March 15th, 2012 to discuss the client's business since we are the new auditor appointed by the BOD. Dollarama Inc. is a public company with common shares listed on the Toronto Stock Exchange (CNSX) headquartered in Montreal, Canada. C&W discussed the significant audit issues, and performed the preliminary analytic review, based on the result of the Trial Balance received for the company. Based on our discussion, we assessed inherent risk as moderate and detection risk as moderate. Since we the controls are considered strong, we can rely on them. They were tested and we are going to reduce our testing based on that. C&W calculated materiality of the engagement. C&W decided to choose the sales as the basis for materiality since this measure is consistent from year to year and it is what management uses as their basis to measure company's success. Overall preliminary materiality = $80 000 and performance materiality =60 000. We also looked at each section and looked at what is going to be the most challenging job for us, the auditor when looking for misstatements. Here are our main concerns about this audit: - Accounting for the subsidiaries - related-party transactions - Impairment of goodwill and all other intangible assets (approx. $838,000,000 on B/S) - Contingencies and commitments for operating leases "We are - the relationship you can count on" - Chiu & Weisserman, LLP
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Chiu & Weisserman LLP April 12, 2011 Chairman of the Audit Committee Dollarama Inc.
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