Figure 20-4 is the review engagement report for Science Atlantic, a charitable organization representing 17 postsecondary and

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Figure 20-4 is the review engagement report for Science Atlantic, a charitable organization representing 17 postsecondary and research institutes in Atlantic Canada. Science Atlantic, which was founded in 1962, was formed to promote science in the Atlantic Region and provides networking and conference opportunities for undergraduate science students and faculty there.
Go to Science Atlantic's website ( scienceatlantic. ca/ ). Scroll down for the link to its 2013-14 annual report and access it. Access its 2013-14 financial statements at https:// scienceatlantic.ca/annualreport /2013-14 / wp-content/ uploads / 2014 / 07 / Science-Atlantic-2014-Financial-Statements. pdf .
REQUIRED
a. What are the primary sources of funding for Science Atlantic?
b. Based upon reading the annual report and financial statements, who are the key users of the financial statements?
c.
Based upon the key users and your analysis of the financial statements, why do you think a review engagement report meets the users' needs?
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...
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Auditing The Art and Science of Assurance Engagements

ISBN: 978-0133405507

13th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones

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