You are an audit manager with Coley and Falls CPAs (the Firm or your firm) and are finalizing the Firms initial audit of the financial statements of Blair Holdings (the Company) as of and for the year ended December 31, 2022. The Company is privately owned. At the request of management, the 2022 financial statements will be comparative with the Companys 2021 financial statements. The engagement partner has asked you to draft the Firms audit report, which will be dated March 15, 2023.

Additional Information

This audit is not a group audit.

Your firm has concluded that an unmodified (that is clean) opinion is appropriate based on the audit evidence obtained.

The prior period financial statements (2021) were audited by a predecessor auditor, Charles & Foster, whose report dated March 31, 2022 was unmodified.

Your firm has concluded, based on the evidence obtained, that there are no conditions or events that raise substantial doubt about the Companys ability to continue as a going concern for a reasonable period of time.

There are no material uncorrected misstatements.

The Firm has not been engaged to communicate key audit matters.

Required

Draft, in its entirety, the Opinion paragraph of your firms audit report on the Companys 2022 financial statements.

Draft, in its entirety, the Other Matter paragraph (if required) of your firms audit report on the Companys 2022 financial statements.