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can you help me do this please... Thank You... I just want to check whether my answer is correct or not (AICPA, adapted) [8] 18-27
can you help me do this please... Thank You... I just want to check whether my answer is correct or not
(AICPA, adapted) [8] 18-27 On March 12, 2004, Brown & Brown, CPAs, completed the audit of the financial statements of Modern Museum, Inc., for the year ended December 31, 2003. Modern Museum presents comparative financial statements on a modified cash basis. Assets, liabilities, fund balances, support, revenues, and expenses are recognized when cash is received or disbursed, except that Modern includes a provision for deprecia- tion of buildings and equipment. Brown & Brown believes that Mod- ern's three financial statements, prepared in accordance with a comprehensive basis of accounting other than generally accepted ac- counting principles, are adequate for Modern's needs and wishes to issue a special report on the financial statements. Brown & Brown has gathered sufficient competent evidential matter to be satisfied that the financial statements are fairly presented according to the modified cash basis. Brown & Brown audited Modern's 2002 finan- cial statements and issued an auditor's special report expressing an unqualified opinion. Required: Draft the audit report to accompany Modern's comparative financial statementsStep by Step Solution
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