To trace to verify the calculations of the sales tax

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To trace to verify the calculations of the sales tax report and to ensure collectability. Merchandise inventory To obtain proof of ownership and existence by attending the inventory count Accounts payable and accrued liabilities To tie to confirmations. To determine completeness and accuracy by performing cut-off testing. Long-term debt payable To tie to confirmation Other liabilities To tie to confirmation Share capital To tie to confirmation - maybe more shares are expected to issue Consolidation spreadsheet We will verify the calculation of the schedules that are going to be sent to us from the U.S. and other cities in Quebec and tie to the working trial balance of the individual companies. Ensure accuracy on the foreign exchange translation. Ensure completeness of all the required elimination entries Expenses To vouch to sources document to ensure occurrence and accuracy. Materiality, determined according to our professional judgment, will be used to assess the significance of identified errors or omissions, and to determine the level of audit testing carried out. Specifically, a misstatement or the aggregate of all misstatements in consolidated financial statements is considered to be material, if it is probable that the decision of the party relying on the consolidated financial statements, who has reasonable understanding of business and economic activities, will be changed or influenced by such a misstatement or the aggregate of all misstatements. We have calculated and propose to use $80,000 as materiality for audit planning purposes . Unless we obtain evidence to the contrary, significant differences not adjusted in the prior year and not recorded in the current year will result in an ending equity understatement of $Nil. "We are - the relationship you can count on" - Chiu & Weisserman, LLP
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Page 4 April 11, 2012 Dollarama Inc. 3. Your Needs and Expectations and the Planned C&W Response To fulfil our commitment to provide you with the highest level of professional service, we will: 3. 1 Inform you of any new or proposed International Financial Reporting Standards accounting pronouncements relevant to your financial reporting, so that we can plan for their effect and assist in their implementation. 3. 2 Communicate relevant matters to the Audit Committee, including our Audit Service Plan and Audit Findings. 3. 3 Provide ongoing business, taxation, and accounting and financial reporting advice, and assist management as requested, when transactions or issues arise. 3. 4 Opine on the fair presentation of the audited consolidated financial statements to be issued. 3. 5 Provide our recommendations with regard to controls and administrative efficiencies. Our anticipated timeline for completion of the audit engagement is as follows: COMMUNICATION DATE Year-end field work January 29, 2012 Draft year-end consolidated financial statements to management April 10, 2012 Report of the Audit Findings to the Audit Committee April 10, 2012 Release of the final year-end consolidated financial statements April 10, 2012
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