Valley Publishing Company
Autor: riona06 • July 20, 2016 • Case Study • 290 Words (2 Pages) • 1,075 Views
BAYNES AND GREY
CERTIFIED PUBLIC ACCOUNTANTS
CENTER CITY, ILLINOIS 6280I
Board of Directors
Valley Publishing Company
Center City, Illinois 62802
Independent Auditor's Report
We have audited the balance sheets of Valley Publishing Company as of December 31, 20x2, and the related statements of income and retained earnings, and cash flows for the years then ended. These financial statements are the responsibility of Valley Publishing Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audits in accordance with auditing standards of the Public Company Accounting Oversight Board generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Valley Publishing Company as of December 31, 20x2, and the results of its operations and its cash flows for the year ended December 31, 20x2, in conformity with generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), The Valley Publishing Company’s internal control over financial reporting as of December 31, 20x2, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated April 26, 20x3 expressed an unqualified opinion thereon.
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