Jiffy Clerical Services is a company that furnishes temporary office help to its customers. The company maintains
Question:
You have audited the company for the year ended December 31, 20X4, and have concluded that the company’s financial statements represent a fair presentation on that basis.
a. Draft the unqualified auditors’ report you would issue covering the financial statements (a statement of assets and liabilities and the related statement of revenue collected and expenses paid) for the year ended December 31, 20X4.
b. Briefly discuss and justify your modifications of the conventional standard auditors’ report on GAAP financial statements.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
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