Write a financial audit report reflecting a qualified opinion. Any scope limitations or violations from GAAP are not significant enough to cause a disclaimer due to issues of materiality. Although the Sam’s Super Deli is privately owned, it has borrowed money from a local bank. The investment group that owns the bank requires the audit report done in accordance with GAAP for the year ending December 31, 2016.
The report should expose departures from GAAP standards; be specific. What evidence of the departure from GAAP do you have? Be sure to be specific enough so that your client can make your recommended changes. Do not forget to mention what the company is doing right as well as wrong. Create a nice tone to meld the two together sounding positive while pointing out what is not conforming. Mention opportunities for improvement.
Your qualified opinion is based on the following facts. A few sentences addressing each will be enough.
The audit report should have only the following:
Title page, Introduction, Body, Conclusion, any Appendices (if you must have them).
Your report should be two- three pages, maximum, NOT counting the title page and any appendices you may use.
Do not use boilerplate language. Find a way to write this report in plain, clear, and concise English. You want your client, Sam, to understand what you have written.
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