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Scenario You are an auditor for Tuesday & Co., CPAs. Your supervisor has asked you to prepare an audit report for Crusoe, one of the
Scenario You are an auditor for Tuesday & Co., CPAs. Your supervisor has asked you to prepare an audit report for Crusoe, one of the firm's clients. You begin your audit report by reviewing the relevant background information on Crusoe. Directions Prepare the audit report for the firm's client. Specifically, you must address the following rubric criteria: Outline the possible assertions regarding the financial data. Consider the following: Accuracy and valuation, existence, completeness, rights and obligations, and presentation and disclosure Describe the control gaps and anomalies (Critical Audit Matters (CAMs)) present in the summary of audit findings. Describe the connection between the findings and generally accepted auditing standards (GAAS). Summarize an opinion of the audit results. Include the following: The validity of the results The impact of the external audit on the client Identify the required elements to be communicated (CAMs) in the audit report.List the specific CAMs that need to be communicated in the audit report. These are the issues that were communicated or required to be communicated to the audit committee and relate to accounts or disclosures that are material to the financial statements
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