Question: You CA are employed at Beaulieu Beauregard Chartered Accountants

You, CA, are employed at Beaulieu & Beauregard, Chartered Accountants. On November 20, 2013, Dominic Jones, a partner in your firm, sends you the following e-mail: “Our firm has been reappointed auditors of Floral Impressions Ltd. (FIL) for the year ending December 31, 2013. I met with the president and major shareholder of FIL,
Liz Aronovitch, last week, and I toured the Vancouver warehouse and head office. I have prepared some background information on FIL for you to review, including the company’s October 31, 2013, internal non-consolidated financial statements. FIL is increasing the amount of business it does on the Internet, and Liz would like us to provide comments on the direction in which FIL is moving. I made notes on her plans for FIL’s increasing use of the Internet. I also met with Craig Ottenbreit, the controller, and I made notes from that meeting. Once you have reviewed the material, I would like you to draft an audit planning memo identifying the new accounting issues for the 2013 audit. I would also like the memo to address Liz’s specific requests. I’d like to receive something by next week. Let me know if you have any questions.”
Draft the audit planning memo requested by Liz Aronovitch.

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