Items 1 through 5 represent a series of unrelated statements, questions, excerpts, and comments taken from various parts of an auditors working paper file. Below the items is a list of the likely sources of the statements, questions, excerpts, and comments. Select, as the best answer for each item, the most likely source. Select only one source for each item. A source may be selected once, more than once, or not at all.

1-All transactions have been recorded in the accounting records and are reflected in the financial statements

2-In connection with an audit of our financial statements, management has prepared, and furnished to our auditors, a description and evaluation of certain contingencies

3-Provision has been made for any material loss to be sustained in the fulfillment of, o from the inability to fulfill, any sales commitments.

4-Fees for our services are based on our regular per diem rates, plus travel and other out-of-pocket expenses.

5-The objective of our audit is to express an unmodified opinion on the financial statements, although it is possible that facts or circumstances encountered may preclude us from expressing an unqualified opinion

Sources

a-Partners engagement review program

b-Communication with predecessor auditor

c-Auditors engagement letter

d-Management representation letter

e-Standard financial institution confirmation request

f-Auditors communication with the audit committee

g-Auditors report

h-Letter for underwriters

i-Audit inquiry letter to legal counsel

j-Accounts receivable confirmation