Your firm has been engaged by the management of Bambi Ltd (Bambi) to undertake a review of and provide an assurance report on the interim financial information of Bambi for the six months ended 30 November 2022. The terms of the engagement are restricted to making enquiries of management and applying analytical procedures to the financial information. The business was started 12 years previously and has grown steadily with no outside investors. Management wishes to increase the rate of expansion and has identified a potential investor who has asked for assurance on the interim financial information. Historically, the principal activity of Bambi has been the retailing of high quality and stylish children's clothing. However, in July 2022, the company launched a new range of up-market accessories which includes children's chairs, prams, cots and bedding. The company holds a limited amount of inventory of the most expensive accessories, but guarantees delivery of any item ordered within six weeks of the order date. The clothing is sourced from suppliers in the China and more recently Vietnam. The accessories are sourced from suppliers in South Korea. Sales are made through the company's eight retail outlets, by mail order and over the internet. Seven of the retail outlets are in the New Zealand and one, which was opened in April 2022, is in Sydney, Australia. Revenue has grown steadily at between 4% and 6% per annum over the five years ended 31 May 2022.