Written Representations Omissions. During the audit of the annual financial statements of Amis Manufacturing Inc., the company’s president, Vance Molar, and WandaDweebins, the engagement partner, reviewed matters that were supposed to be includedin written representations. Amis Manufacturing is a private company. Upon receiptof the following representations, Dweebins contacted Molar to state that they wereincomplete.To John & Wayne, CPAs:In connection with your examination of the balance sheet of Amis Manufacturing Inc., asof December 31, 2017, and the related statements of income, retained earnings, and cashflows for the year then ended, for the purpose of expressing an opinion on whether thefinancial statements present fairly the financial position, results of operations, and cashflows of Amis Manufacturing Inc., in conformity with generally accepted accounting principles, we confirm, to the best of our knowledge and belief, the following representationsmade to you during your audit. There were no∙ Plans or intentions that could materially affect the carrying value or classification ofassets or liabilities.∙ Communications from regulatory agencies concerning noncompliance with, or deficiencies in, financial reporting practices.∙ Agreements to repurchase assets previously sold.∙ Violations or possible violations of laws or regulations whose effects should be considered for disclosure in the financial statements or as a basis for recording a contingentliability.∙ Unasserted claims or assessments that our lawyer has advised are probable of assertionthat must be disclosed in accordance with Accounting Standards Codification (ASC)450.∙ Capital stock purchase options or agreements or capital stock reserved for options, warrants, conversions, or other requirements.∙ Compensating balance or other arrangements involving restrictions on cash balances.Vance Molar, PresidentAmis Manufacturing Inc.March 14, 2018Required:Identify the other matters that Molar’s representations should specifically confirm.
Written Representations Omissions. During the audit of the annual financial statements of Amis Manufacturing Inc., the company’s president, Vance Molar, and Wanda
Dweebins, the engagement partner, reviewed matters that were supposed to be included
in written representations. Amis Manufacturing is a private company. Upon receipt
of the following representations, Dweebins contacted Molar to state that they were
incomplete.
To John & Wayne, CPAs:
In connection with your examination of the
of December 31, 2017, and the related statements of income,
flows for the year then ended, for the purpose of expressing an opinion on whether the
financial statements present fairly the financial position, results of operations, and cash
flows of Amis Manufacturing Inc., in conformity with generally accepted accounting principles, we confirm, to the best of our knowledge and belief, the following representations
made to you during your audit. There were no
∙ Plans or intentions that could materially affect the carrying value or classification of
assets or liabilities.
∙ Communications from regulatory agencies concerning noncompliance with, or deficiencies in, financial reporting practices.
∙ Agreements to repurchase assets previously sold.
∙ Violations or possible violations of laws or regulations whose effects should be considered for disclosure in the financial statements or as a basis for recording a contingent
liability.
∙ Unasserted claims or assessments that our lawyer has advised are probable of assertion
that must be disclosed in accordance with Accounting Standards Codification (ASC)
450.
∙ Capital stock purchase options or agreements or capital stock reserved for options, warrants, conversions, or other requirements.
∙ Compensating balance or other arrangements involving restrictions on cash balances.
Vance Molar, President
Amis Manufacturing Inc.
March 14, 2018
Required:
Identify the other matters that Molar’s representations should specifically confirm.
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