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Author Question: The following is the introductory paragraph, and the Basis for Qualified Opinion paragraph for Fast ... (Read 45 times)

stananza

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on: Aug 21, 2022
The following is the introductory paragraph, and the Basis for Qualified Opinion paragraph for Fast Times Corporation, a nonpublic company.

Independent Auditor's Report

To the shareholders and the board of directors of Fast Times Corporation

We have audited the accompanying balance sheet of Fast Times Corporation as of September 30, 2019, and the related statements of income, retained earnings, and cash flows for the year then ended, and the related notes to the financial statements.

Basis for Qualified Opinion

We were unable to obtain audited financial statements supporting the company's investment in a foreign affiliate stated at $1,040,000, or its equity in earnings of that affiliate of $501,000, which is included in net income, as described in Note 14 to the financial statements. Because of the nature of the company's records, we were unable to satisfy ourselves as to the carrying value of the investment or the equity in its earnings by means of other auditing procedures.

Required:

Prepare the opinion paragraph for the above audit report. Do not date or sign the report.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by stananza on Aug 21, 2022

Asfa

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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stananza

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Reply 2 on: Aug 21, 2022
Thanks for the timely response, appreciate it

kilada

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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