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Compilation Essay

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Below is an essay on "Compilation" from Anti Essays, your source for research papers, essays, and term paper examples.

January 29, 2012

[Client Address]

Dear Client:

This letter is to confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services I will provide.
I will review the balance sheet of the [Client] as of December 31, 2011, and the related statement of operations for the year then ended, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.   My review will consist primarily of inquiries of company personnel and analytical procedures applied to financial data.   At the conclusion of my review, I will require certain written representations from you about the financial statements and related matters.   Those written representations are a material part of the review I will perform, and your failure or refusal to provide them in a timely manner will constitute a scope limitation that may preclude me from completing the engagement and issuing my report.
A review does not contemplate obtaining an understanding of the internal control or assessing control risk, tests of accounting records and responses to inquiries by obtaining corroborating evidential matter, and certain other procedures ordinarily performed during an audit.   Thus, a review does not provide assurance that I will become aware of all significant matters that would be disclosed in an audit.  
This engagement cannot be relied upon to disclose errors, fraud, or illegal acts that may exist.   However, I will inform you of any material errors or any fraud or illegal acts that come to my attention, unless they are clearly inconsequential.   In addition, as part of this engagement I have no responsibility to identify and communicate significant deficiencies or material weaknesses in your internal control, and my engagement cannot be relied upon to disclose the same.   You are responsible for the preparation and fair presentation of the financial statements using the...

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MLA Citation

"Compilation". Anti Essays. 16 Dec. 2018

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APA Citation

Compilation. Anti Essays. Retrieved December 16, 2018, from the World Wide Web: http://snehaedu.com/free-essays/Compilation-546428.html