SlideShare a Scribd company logo
ily & An, Ltd., a CPA firm in San Jose, has completed the audit of the financial statement of
VirusX Corporation, a public irm, for the year ended 12/31/2021. Findings related to the
financial statements and the audit include: 1. Although Virus X has been audited for the past five
years by Lily & An, it is presenting only the current -year financial statements. 2. Lily & An
did not receive any returned confirmations for accounts receivables, however, the CPA firm was
satisfied with the account based on alternative procedures. 3. During 2021. Virus X changed its
method of accounting for the depreciation of the long-term assets from straight line to double-
declining balance. CPA firm concurs with VirusX's justification for making the change. Note 12
to the financial statements discussed this matter. 4. CPA firm gathered sufficient and appropriate
audit evidence as of March 1, 2022 with the planed report release date of March 10, 2022. 5.
CPA firm noted that Virus X has excluded from property and debt in the balance sheets certain
lease obligations. CPA firms believed the lease obligations should have been capitalized in order
to conform with accounting principles generally accepted in the United States of America. If
these lease obligations were capitalized, the property would have been increased by $3.5 million.
long-term debt by $3.5 million, and retained earnings by $0.5 million as of year-end. The CPA
firm deemed this to be material but not a pervasive departure from GAAP. Draft a complete
audit report based on the facts listed above, including the title, the body, name of the CPA firm,
and

More Related Content

Similar to ily -& An- Ltd-- a CPA firm in San Jose- has completed the audit of th.pdf

3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx
3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx
3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx
rhetttrevannion
 
Uop acc 497 week 4 knowledge check new
Uop acc 497 week 4 knowledge check newUop acc 497 week 4 knowledge check new
Uop acc 497 week 4 knowledge check new
vindaniel182
 
The following information is for Henenlotter Inc. for the year end.docx
The following information is for Henenlotter Inc. for the year end.docxThe following information is for Henenlotter Inc. for the year end.docx
The following information is for Henenlotter Inc. for the year end.docx
cherry686017
 
Debentures
DebenturesDebentures
Debentures
HARSHIT GARG
 
Schedule 3 & CARO.pptx
Schedule 3 & CARO.pptxSchedule 3 & CARO.pptx
Schedule 3 & CARO.pptx
AbhishekPareek71
 
ABC Corporation Case ABC Corporation is a publically held corporation.docx
ABC Corporation Case ABC Corporation is a publically held corporation.docxABC Corporation Case ABC Corporation is a publically held corporation.docx
ABC Corporation Case ABC Corporation is a publically held corporation.docx
lauracallander
 
AUDIT & ASSURANCE ND-2022_Question.pdf
AUDIT & ASSURANCE ND-2022_Question.pdfAUDIT & ASSURANCE ND-2022_Question.pdf
AUDIT & ASSURANCE ND-2022_Question.pdf
Sazzad Hossain, ITP, MBA, CSCA™
 
Selected information about income statement accounts for the Reed Com.pdf
Selected information about income statement accounts for the Reed Com.pdfSelected information about income statement accounts for the Reed Com.pdf
Selected information about income statement accounts for the Reed Com.pdf
furqanfazl2
 
Suggested answer march april-2021
Suggested answer march april-2021Suggested answer march april-2021
Suggested answer march april-2021
MdJoinalAbedin1
 
AC 410 Entire Course New
AC 410 Entire Course NewAC 410 Entire Course New
AC 410 Entire Course New
shyaminfo30
 
QUESTION 1A change from the cost method to the equity method of .docx
QUESTION 1A change from the cost method to the equity method of .docxQUESTION 1A change from the cost method to the equity method of .docx
QUESTION 1A change from the cost method to the equity method of .docx
JUST36
 
Window Dressing.ppt
Window Dressing.pptWindow Dressing.ppt
Window Dressing.ppt
PriyaMajethia3
 
Audit report and caro 2003
Audit report and caro 2003Audit report and caro 2003
Audit report and caro 2003Ranjan Sharma
 
Ch 1 PPT.pptx
Ch 1 PPT.pptxCh 1 PPT.pptx
Ch 1 PPT.pptx
SaadEl10
 
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...
Mercer Capital
 
Corporate Finance Canadian 7th Edition Jaffe Test Bank
Corporate Finance Canadian 7th Edition Jaffe Test BankCorporate Finance Canadian 7th Edition Jaffe Test Bank
Corporate Finance Canadian 7th Edition Jaffe Test Bank
DaceyDaceys
 
Intermediate Accounting Volume 2 6th Edition Beechy Test Bank
Intermediate Accounting Volume 2 6th Edition Beechy Test BankIntermediate Accounting Volume 2 6th Edition Beechy Test Bank
Intermediate Accounting Volume 2 6th Edition Beechy Test Bank
goqaho
 

Similar to ily -& An- Ltd-- a CPA firm in San Jose- has completed the audit of th.pdf (17)

3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx
3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx
3-24 (Objectives 3-1 , 3-2, 3-4, 3-6, 3-7) Patel, CPA, has complet.docx
 
Uop acc 497 week 4 knowledge check new
Uop acc 497 week 4 knowledge check newUop acc 497 week 4 knowledge check new
Uop acc 497 week 4 knowledge check new
 
The following information is for Henenlotter Inc. for the year end.docx
The following information is for Henenlotter Inc. for the year end.docxThe following information is for Henenlotter Inc. for the year end.docx
The following information is for Henenlotter Inc. for the year end.docx
 
Debentures
DebenturesDebentures
Debentures
 
Schedule 3 & CARO.pptx
Schedule 3 & CARO.pptxSchedule 3 & CARO.pptx
Schedule 3 & CARO.pptx
 
ABC Corporation Case ABC Corporation is a publically held corporation.docx
ABC Corporation Case ABC Corporation is a publically held corporation.docxABC Corporation Case ABC Corporation is a publically held corporation.docx
ABC Corporation Case ABC Corporation is a publically held corporation.docx
 
AUDIT & ASSURANCE ND-2022_Question.pdf
AUDIT & ASSURANCE ND-2022_Question.pdfAUDIT & ASSURANCE ND-2022_Question.pdf
AUDIT & ASSURANCE ND-2022_Question.pdf
 
Selected information about income statement accounts for the Reed Com.pdf
Selected information about income statement accounts for the Reed Com.pdfSelected information about income statement accounts for the Reed Com.pdf
Selected information about income statement accounts for the Reed Com.pdf
 
Suggested answer march april-2021
Suggested answer march april-2021Suggested answer march april-2021
Suggested answer march april-2021
 
AC 410 Entire Course New
AC 410 Entire Course NewAC 410 Entire Course New
AC 410 Entire Course New
 
QUESTION 1A change from the cost method to the equity method of .docx
QUESTION 1A change from the cost method to the equity method of .docxQUESTION 1A change from the cost method to the equity method of .docx
QUESTION 1A change from the cost method to the equity method of .docx
 
Window Dressing.ppt
Window Dressing.pptWindow Dressing.ppt
Window Dressing.ppt
 
Audit report and caro 2003
Audit report and caro 2003Audit report and caro 2003
Audit report and caro 2003
 
Ch 1 PPT.pptx
Ch 1 PPT.pptxCh 1 PPT.pptx
Ch 1 PPT.pptx
 
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Mark...
 
Corporate Finance Canadian 7th Edition Jaffe Test Bank
Corporate Finance Canadian 7th Edition Jaffe Test BankCorporate Finance Canadian 7th Edition Jaffe Test Bank
Corporate Finance Canadian 7th Edition Jaffe Test Bank
 
Intermediate Accounting Volume 2 6th Edition Beechy Test Bank
Intermediate Accounting Volume 2 6th Edition Beechy Test BankIntermediate Accounting Volume 2 6th Edition Beechy Test Bank
Intermediate Accounting Volume 2 6th Edition Beechy Test Bank
 

More from Stewart29UReesa

Note- Can someone help me with the Public boolean add(E value) method.pdf
Note- Can someone help me with the Public boolean add(E value) method.pdfNote- Can someone help me with the Public boolean add(E value) method.pdf
Note- Can someone help me with the Public boolean add(E value) method.pdf
Stewart29UReesa
 
Note- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdf
Note- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdfNote- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdf
Note- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdf
Stewart29UReesa
 
need in c language Write a function called isIsoceles that accepts thr.pdf
need in c language Write a function called isIsoceles that accepts thr.pdfneed in c language Write a function called isIsoceles that accepts thr.pdf
need in c language Write a function called isIsoceles that accepts thr.pdf
Stewart29UReesa
 
need in c language Write the body of a function called sumRange that a.pdf
need in c language Write the body of a function called sumRange that a.pdfneed in c language Write the body of a function called sumRange that a.pdf
need in c language Write the body of a function called sumRange that a.pdf
Stewart29UReesa
 
Need help with this ASAP- This is Database systems- Please draw out th.pdf
Need help with this ASAP- This is Database systems- Please draw out th.pdfNeed help with this ASAP- This is Database systems- Please draw out th.pdf
Need help with this ASAP- This is Database systems- Please draw out th.pdf
Stewart29UReesa
 
Nheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdf
Nheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdfNheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdf
Nheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdf
Stewart29UReesa
 
Nikke has just received an amended assessment from the Australian Taxa.pdf
Nikke has just received an amended assessment from the Australian Taxa.pdfNikke has just received an amended assessment from the Australian Taxa.pdf
Nikke has just received an amended assessment from the Australian Taxa.pdf
Stewart29UReesa
 
Orange- Below is a sequence alignment with fixed differences for speci.pdf
Orange- Below is a sequence alignment with fixed differences for speci.pdfOrange- Below is a sequence alignment with fixed differences for speci.pdf
Orange- Below is a sequence alignment with fixed differences for speci.pdf
Stewart29UReesa
 
Nordic Multinationals Nordic countries have small populations ( 6 mill.pdf
Nordic Multinationals Nordic countries have small populations ( 6 mill.pdfNordic Multinationals Nordic countries have small populations ( 6 mill.pdf
Nordic Multinationals Nordic countries have small populations ( 6 mill.pdf
Stewart29UReesa
 
Nordic countries have small populations (6 million in Denmark- 9 milli.pdf
Nordic countries have small populations (6 million in Denmark- 9 milli.pdfNordic countries have small populations (6 million in Denmark- 9 milli.pdf
Nordic countries have small populations (6 million in Denmark- 9 milli.pdf
Stewart29UReesa
 
Ontinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdf
Ontinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdfOntinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdf
Ontinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdf
Stewart29UReesa
 
One of the concerns in severe ankle sprain is that the patient has sus.pdf
One of the concerns in severe ankle sprain is that the patient has sus.pdfOne of the concerns in severe ankle sprain is that the patient has sus.pdf
One of the concerns in severe ankle sprain is that the patient has sus.pdf
Stewart29UReesa
 
no more info Given the system represented by the equations- x1-x22x13.pdf
no more info  Given the system represented by the equations- x1-x22x13.pdfno more info  Given the system represented by the equations- x1-x22x13.pdf
no more info Given the system represented by the equations- x1-x22x13.pdf
Stewart29UReesa
 
On June 13- the board of directors of Siewert Incorporated declared a.pdf
On June 13- the board of directors of Siewert Incorporated declared a.pdfOn June 13- the board of directors of Siewert Incorporated declared a.pdf
On June 13- the board of directors of Siewert Incorporated declared a.pdf
Stewart29UReesa
 
On May 1- 2023- Romy and Vic formed a partnership contributing assets.pdf
On May 1- 2023- Romy and Vic formed a partnership contributing assets.pdfOn May 1- 2023- Romy and Vic formed a partnership contributing assets.pdf
On May 1- 2023- Romy and Vic formed a partnership contributing assets.pdf
Stewart29UReesa
 
On January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdf
On January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdfOn January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdf
On January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdf
Stewart29UReesa
 
need asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdf
need asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdfneed asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdf
need asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdf
Stewart29UReesa
 
On December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdf
On December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdfOn December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdf
On December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdf
Stewart29UReesa
 
On December 10- YR08 the board of directors of Apple Inc- declared a c.pdf
On December 10- YR08 the board of directors of Apple Inc- declared a c.pdfOn December 10- YR08 the board of directors of Apple Inc- declared a c.pdf
On December 10- YR08 the board of directors of Apple Inc- declared a c.pdf
Stewart29UReesa
 
Objective- Write syntactically correct while-for loops Given a list of.pdf
Objective- Write syntactically correct while-for loops Given a list of.pdfObjective- Write syntactically correct while-for loops Given a list of.pdf
Objective- Write syntactically correct while-for loops Given a list of.pdf
Stewart29UReesa
 

More from Stewart29UReesa (20)

Note- Can someone help me with the Public boolean add(E value) method.pdf
Note- Can someone help me with the Public boolean add(E value) method.pdfNote- Can someone help me with the Public boolean add(E value) method.pdf
Note- Can someone help me with the Public boolean add(E value) method.pdf
 
Note- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdf
Note- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdfNote- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdf
Note- E0- Equilibrium demand and supply for labour - DL- Demand for la.pdf
 
need in c language Write a function called isIsoceles that accepts thr.pdf
need in c language Write a function called isIsoceles that accepts thr.pdfneed in c language Write a function called isIsoceles that accepts thr.pdf
need in c language Write a function called isIsoceles that accepts thr.pdf
 
need in c language Write the body of a function called sumRange that a.pdf
need in c language Write the body of a function called sumRange that a.pdfneed in c language Write the body of a function called sumRange that a.pdf
need in c language Write the body of a function called sumRange that a.pdf
 
Need help with this ASAP- This is Database systems- Please draw out th.pdf
Need help with this ASAP- This is Database systems- Please draw out th.pdfNeed help with this ASAP- This is Database systems- Please draw out th.pdf
Need help with this ASAP- This is Database systems- Please draw out th.pdf
 
Nheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdf
Nheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdfNheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdf
Nheser- Thmus dependest artigert- Thetrus insepensient andigeta- both.pdf
 
Nikke has just received an amended assessment from the Australian Taxa.pdf
Nikke has just received an amended assessment from the Australian Taxa.pdfNikke has just received an amended assessment from the Australian Taxa.pdf
Nikke has just received an amended assessment from the Australian Taxa.pdf
 
Orange- Below is a sequence alignment with fixed differences for speci.pdf
Orange- Below is a sequence alignment with fixed differences for speci.pdfOrange- Below is a sequence alignment with fixed differences for speci.pdf
Orange- Below is a sequence alignment with fixed differences for speci.pdf
 
Nordic Multinationals Nordic countries have small populations ( 6 mill.pdf
Nordic Multinationals Nordic countries have small populations ( 6 mill.pdfNordic Multinationals Nordic countries have small populations ( 6 mill.pdf
Nordic Multinationals Nordic countries have small populations ( 6 mill.pdf
 
Nordic countries have small populations (6 million in Denmark- 9 milli.pdf
Nordic countries have small populations (6 million in Denmark- 9 milli.pdfNordic countries have small populations (6 million in Denmark- 9 milli.pdf
Nordic countries have small populations (6 million in Denmark- 9 milli.pdf
 
Ontinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdf
Ontinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdfOntinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdf
Ontinostatic typotension Vazodepressor Syncope Shuazanat SyncopeMoveme.pdf
 
One of the concerns in severe ankle sprain is that the patient has sus.pdf
One of the concerns in severe ankle sprain is that the patient has sus.pdfOne of the concerns in severe ankle sprain is that the patient has sus.pdf
One of the concerns in severe ankle sprain is that the patient has sus.pdf
 
no more info Given the system represented by the equations- x1-x22x13.pdf
no more info  Given the system represented by the equations- x1-x22x13.pdfno more info  Given the system represented by the equations- x1-x22x13.pdf
no more info Given the system represented by the equations- x1-x22x13.pdf
 
On June 13- the board of directors of Siewert Incorporated declared a.pdf
On June 13- the board of directors of Siewert Incorporated declared a.pdfOn June 13- the board of directors of Siewert Incorporated declared a.pdf
On June 13- the board of directors of Siewert Incorporated declared a.pdf
 
On May 1- 2023- Romy and Vic formed a partnership contributing assets.pdf
On May 1- 2023- Romy and Vic formed a partnership contributing assets.pdfOn May 1- 2023- Romy and Vic formed a partnership contributing assets.pdf
On May 1- 2023- Romy and Vic formed a partnership contributing assets.pdf
 
On January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdf
On January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdfOn January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdf
On January 1- 2020- Fisher Corporation purchased 40 percent (90-000 sh.pdf
 
need asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdf
need asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdfneed asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdf
need asap- thank you Symbols for Relational Aleebra Expressions and Ot.pdf
 
On December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdf
On December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdfOn December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdf
On December 30- 2020- Inge Co-'s Board of Directors declared a 10- sto.pdf
 
On December 10- YR08 the board of directors of Apple Inc- declared a c.pdf
On December 10- YR08 the board of directors of Apple Inc- declared a c.pdfOn December 10- YR08 the board of directors of Apple Inc- declared a c.pdf
On December 10- YR08 the board of directors of Apple Inc- declared a c.pdf
 
Objective- Write syntactically correct while-for loops Given a list of.pdf
Objective- Write syntactically correct while-for loops Given a list of.pdfObjective- Write syntactically correct while-for loops Given a list of.pdf
Objective- Write syntactically correct while-for loops Given a list of.pdf
 

Recently uploaded

Overview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with MechanismOverview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with Mechanism
DeeptiGupta154
 
Azure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHatAzure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHat
Scholarhat
 
Operation Blue Star - Saka Neela Tara
Operation Blue Star   -  Saka Neela TaraOperation Blue Star   -  Saka Neela Tara
Operation Blue Star - Saka Neela Tara
Balvir Singh
 
Embracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic ImperativeEmbracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic Imperative
Peter Windle
 
Digital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and ResearchDigital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and Research
Vikramjit Singh
 
The Diamond Necklace by Guy De Maupassant.pptx
The Diamond Necklace by Guy De Maupassant.pptxThe Diamond Necklace by Guy De Maupassant.pptx
The Diamond Necklace by Guy De Maupassant.pptx
DhatriParmar
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
camakaiclarkmusic
 
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
EugeneSaldivar
 
BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...
BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...
BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...
Nguyen Thanh Tu Collection
 
Acetabularia Information For Class 9 .docx
Acetabularia Information For Class 9  .docxAcetabularia Information For Class 9  .docx
Acetabularia Information For Class 9 .docx
vaibhavrinwa19
 
Best Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDABest Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDA
deeptiverma2406
 
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Dr. Vinod Kumar Kanvaria
 
Model Attribute Check Company Auto Property
Model Attribute  Check Company Auto PropertyModel Attribute  Check Company Auto Property
Model Attribute Check Company Auto Property
Celine George
 
Chapter -12, Antibiotics (One Page Notes).pdf
Chapter -12, Antibiotics (One Page Notes).pdfChapter -12, Antibiotics (One Page Notes).pdf
Chapter -12, Antibiotics (One Page Notes).pdf
Kartik Tiwari
 
Introduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp NetworkIntroduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp Network
TechSoup
 
special B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdfspecial B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdf
Special education needs
 
The basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptxThe basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptx
heathfieldcps1
 
Normal Labour/ Stages of Labour/ Mechanism of Labour
Normal Labour/ Stages of Labour/ Mechanism of LabourNormal Labour/ Stages of Labour/ Mechanism of Labour
Normal Labour/ Stages of Labour/ Mechanism of Labour
Wasim Ak
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Thiyagu K
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
EverAndrsGuerraGuerr
 

Recently uploaded (20)

Overview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with MechanismOverview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with Mechanism
 
Azure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHatAzure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHat
 
Operation Blue Star - Saka Neela Tara
Operation Blue Star   -  Saka Neela TaraOperation Blue Star   -  Saka Neela Tara
Operation Blue Star - Saka Neela Tara
 
Embracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic ImperativeEmbracing GenAI - A Strategic Imperative
Embracing GenAI - A Strategic Imperative
 
Digital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and ResearchDigital Tools and AI for Teaching Learning and Research
Digital Tools and AI for Teaching Learning and Research
 
The Diamond Necklace by Guy De Maupassant.pptx
The Diamond Necklace by Guy De Maupassant.pptxThe Diamond Necklace by Guy De Maupassant.pptx
The Diamond Necklace by Guy De Maupassant.pptx
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
 
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
 
BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...
BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...
BÀI TẬP BỔ TRỢ TIẾNG ANH GLOBAL SUCCESS LỚP 3 - CẢ NĂM (CÓ FILE NGHE VÀ ĐÁP Á...
 
Acetabularia Information For Class 9 .docx
Acetabularia Information For Class 9  .docxAcetabularia Information For Class 9  .docx
Acetabularia Information For Class 9 .docx
 
Best Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDABest Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDA
 
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
 
Model Attribute Check Company Auto Property
Model Attribute  Check Company Auto PropertyModel Attribute  Check Company Auto Property
Model Attribute Check Company Auto Property
 
Chapter -12, Antibiotics (One Page Notes).pdf
Chapter -12, Antibiotics (One Page Notes).pdfChapter -12, Antibiotics (One Page Notes).pdf
Chapter -12, Antibiotics (One Page Notes).pdf
 
Introduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp NetworkIntroduction to AI for Nonprofits with Tapp Network
Introduction to AI for Nonprofits with Tapp Network
 
special B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdfspecial B.ed 2nd year old paper_20240531.pdf
special B.ed 2nd year old paper_20240531.pdf
 
The basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptxThe basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptx
 
Normal Labour/ Stages of Labour/ Mechanism of Labour
Normal Labour/ Stages of Labour/ Mechanism of LabourNormal Labour/ Stages of Labour/ Mechanism of Labour
Normal Labour/ Stages of Labour/ Mechanism of Labour
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
 

ily -& An- Ltd-- a CPA firm in San Jose- has completed the audit of th.pdf

  • 1. ily & An, Ltd., a CPA firm in San Jose, has completed the audit of the financial statement of VirusX Corporation, a public irm, for the year ended 12/31/2021. Findings related to the financial statements and the audit include: 1. Although Virus X has been audited for the past five years by Lily & An, it is presenting only the current -year financial statements. 2. Lily & An did not receive any returned confirmations for accounts receivables, however, the CPA firm was satisfied with the account based on alternative procedures. 3. During 2021. Virus X changed its method of accounting for the depreciation of the long-term assets from straight line to double- declining balance. CPA firm concurs with VirusX's justification for making the change. Note 12 to the financial statements discussed this matter. 4. CPA firm gathered sufficient and appropriate audit evidence as of March 1, 2022 with the planed report release date of March 10, 2022. 5. CPA firm noted that Virus X has excluded from property and debt in the balance sheets certain lease obligations. CPA firms believed the lease obligations should have been capitalized in order to conform with accounting principles generally accepted in the United States of America. If these lease obligations were capitalized, the property would have been increased by $3.5 million. long-term debt by $3.5 million, and retained earnings by $0.5 million as of year-end. The CPA firm deemed this to be material but not a pervasive departure from GAAP. Draft a complete audit report based on the facts listed above, including the title, the body, name of the CPA firm, and