never billed a. Discuss Steven's audst report options and recommend the h What matters would Steven inclhude in the letter appropriate wording for the audit repoll to those charged with governance at Kingston Catering many years. You are an audit senion ildings at fair Ouestions 13.13 and 13.14 are based or the following case Fabrication Holdings Ltd (FH) has been a client of KFP Partners for d have beon assigned to the FH audit for the first time for the financial year cedures, you become aware that FH sold the unexpected offer of $24.5 million stated in the financial statements (which has not H's financial statements for the year ended December 31, 2020, show land and b property in January 2021 when an independent third party made an une The difference between the sale price been is material. You have not yet signed the audit report s Audit and Assurance Exam, Sources Adapied from the Insitute of Chartered Accountants Australia's and New May 2008 Provided courtesy of Chartered Accountants Australia 13.13 Subsequent events Moderate LO 3 Required Analyze the events surounding the sale of FHI's land and buildings. Is it a subsequent event? If so, which type? 13.14 Audit reports and subsequent events Moderate LO 7 Required Based on your answer to question 1.3.13, explain what type of audit opinion you would issue. Why? Questions 13.15 and 13.16 are based on the following case. Fellowes and Associates Chartered Accountants is a successful mid-tier accounting firm with a large range of clients across Canada. In 2020, Fellowes and Associates gained a new client, Health Care Hold- ings Group (HCHG), which owns 100 percent of the following entities: Shady Oaks Centre, a private treatment centre Gardens Nursing Home Ltd., a private nursing home Total Laser Care Limited (TLCL), a private clinic that specializes in the laser treatment of skin defects never billed a. Discuss Steven's audst report options and recommend the h What matters would Steven inclhude in the letter appropriate wording for the audit repoll to those charged with governance at Kingston Catering many years. You are an audit senion ildings at fair Ouestions 13.13 and 13.14 are based or the following case Fabrication Holdings Ltd (FH) has been a client of KFP Partners for d have beon assigned to the FH audit for the first time for the financial year cedures, you become aware that FH sold the unexpected offer of $24.5 million stated in the financial statements (which has not H's financial statements for the year ended December 31, 2020, show land and b property in January 2021 when an independent third party made an une The difference between the sale price been is material. You have not yet signed the audit report s Audit and Assurance Exam, Sources Adapied from the Insitute of Chartered Accountants Australia's and New May 2008 Provided courtesy of Chartered Accountants Australia 13.13 Subsequent events Moderate LO 3 Required Analyze the events surounding the sale of FHI's land and buildings. Is it a subsequent event? If so, which type? 13.14 Audit reports and subsequent events Moderate LO 7 Required Based on your answer to question 1.3.13, explain what type of audit opinion you would issue. Why? Questions 13.15 and 13.16 are based on the following case. Fellowes and Associates Chartered Accountants is a successful mid-tier accounting firm with a large range of clients across Canada. In 2020, Fellowes and Associates gained a new client, Health Care Hold- ings Group (HCHG), which owns 100 percent of the following entities: Shady Oaks Centre, a private treatment centre Gardens Nursing Home Ltd., a private nursing home Total Laser Care Limited (TLCL), a private clinic that specializes in the laser treatment of skin defects
