Audit Procedures & Unqualified Report
Audit Procedures Abbreviations
- F: Footed
- BK: Agreed to bank statement A-3
- NR: Agreed to signed note. See proposed note Z-1
- I: Immaterial
- A/R: Agreed to bankruptcy notice. See proposed AJE Z-2
- E: Check #10150 was correctly written to National Grid for $13,200 but erroneously recorded in cash disbursement for $12,300. Auditor traced and agreed amounts to check, invoice, and cash disbursements. No exceptions. See Proposed AJE Z-3
- C: Agreed to bank confirmation A-4
- C/O: Agreed to bank cutoff statements
- CR: Agreed to cash receipts journal
- CD: Agreed to cash disbursements journal
Schedule of Marketable Securities
- Agreed to PYWP
- Agreed to Broker Statement
- Agreed to BS
- Agreed to GL
- Agreed to recalculated Securities
- Agreed to Wall Street Journal
- Agreed to broker statement
- f: Footed
- cf: Cross-footed
Standard Unqualified Auditor’s Report
Title: Includes Independence
Addressee: Company, Board of Directors, and/or Stockholders
Introductory Paragraph:
We’ve audited the consolidated balance sheets of ABC Company as of December 31, 2013, and 2012, and the related consolidated statements of operations, stockholders’ equity, and cash flows for the years ended December 31, 2013. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
Scope Paragraph:
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe our audits provide a reasonable basis for our opinion.
Opinion Paragraph:
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of ABC Company as of December 31, 2013, and 2012, and the results of its operations and its cash flows for the years then ended in conformity with generally accepted accounting principles.
Explanatory Paragraph:
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the effectiveness of ABC Company’s internal control over financial reporting as of December 31, 2013, 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 (last day of fieldwork) expressed an unqualified opinion on management’s assessment that ABC Company maintained effective internal control and an unqualified opinion that internal control was effective.
Signature: Manual or printed.
Date: Last day of fieldwork. Dual dating is possible for certain types of subsequent events. SAS 29 (AU 530) “Dating of the Independent Auditor’s Report.”