Question 1 Type of Assurance Engagement Users Needs

Anne is a minority (10%) shareholder of Hamilton Corporation, a private manufacturing company (estimated market value $20.0 million). Anne is also employed by Hamilton Corp as the Vice President, Product Development.

Recently, Anne and the other Hamilton Corp. shareholders were asked by the Board of Directors to approve a resolution that would waive the requirement for the company to have its financial statements audited.

The company has been audited in the past years but would opt to have a review instead of an audit if the resolution is passed unanimously by the shareholders.

Anne is asking your advice on whether she should vote for or against the audit waiver.

a) (5 marks) Identify and discuss four (4) factors that would support voting to waive the audit.

Four Factors that would support voting to waive the audit.
Factor	Rationale

b) (5 marks) Identify and discuss four (4) factors that would support to vote against to waive the audit.

Four Factors that would support to vote against to waive the audit
Factor	Rationale