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Your CPA firm has conducted the Year 8 audit of Big Air Company, an issuer whose bank requires an integrated audit. Big Air is an
Your CPA firm has conducted the Year 8 audit of Big Air Company, an issuer whose bank requires an integrated audit. Big Air is an aircraft manufacturer that has engaged your firm as its independent auditor since the companys inception. The materiality for the Year 8 audit was set at $3 million. At the conclusion of the Year 8 audit, you, as the audit senior, are responsible for drafting the audit report to reflect the results of the audit. Your audit staff has pulled a standard Combined Audit Report template and pre-populated the template with Big Air's basic information. You will need to review this template along with other relevant audit work papers and client communications in the exhibits to complete the combined audit report prior to submitting the report for your manager's review. To revise the combined audit report, click on each segment of underlined text below and select the needed correction, if any, from the list provided. If the underlined text is already correct in the context of the combined audit report, select [Original text] from the list. If removal of the underlined text is the best revision to the combined audit report as a whole, select [Delete text] from the list
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