One Drop Canada

One Drop Canada

Memo to the Board of Governance

Auditors Opinion

• Type

There are 4 pillow slips of audit opinion:

1. Unqualified opinion- which operator that an listener states the financial statements are fairly throwed in concurrence to generally accepted accounting principles.

2. Qualified opinion- when the auditor encounters iodin or two types of situations which do not comply with GAAP but the rest of the financial statements are fairly presented.

3. Disclaimer opinion- given by the auditor when the auditor could not form an opinion and thus refuses to present an opinion on the financial statements.

4. Adverse opinion- provided when financial statements are mis say and do not uphold with GAAP. (F/Ss are not fairly presented.)

By looking for at the Auditors report on the audited annual report p.



1, we aim concluded that the auditor gave an unqualified opinion because the auditor stated the financial statements are fairly presented in accordance with Canadian Generally accepted accounting principles

• Addressed

Auditors report is addressed to the members of genius DROP foundation as stated on p.1 of the audited financial statement. However, the auditor, even though hired by the organization, represents the users to the financial statement. These users overwhelm creditors, investors, employees, contributors etc...

• Date

The watch of the financial statement is December 31, 2009. This means that the financial year of the organization ends on December 31. However, auditors report control is February 25, 2010. This date represent the date on which the auditor released his report, and this date is after the financial statements date (after the fiscal year) since the auditor had to chequer and verify that the financial statements were fairly presented based on GAAP.

• Firm for contemporary and preceding year

Deloitte was the CA firm auditing the organization in the current and preceding year. This means that Deloitte already has experience and knowledge of the...

If you loss to get a full essay, order it on our website: Orderessay



If you want to get a full essay, wisit our page: write my essay .