- 70 -
statements and[,] accordingly, do not express an opinion or
any other form of assurance on them.
Management has elected to omit substantially all of the
disclosures and the statements of changes in financial
position required by generally accepted accounting
principles. If the omitted disclosures and statement[s] of
changes in financial position were included in the financial
statements, they might influence the user’s conclusions
about the company’s [Corporations’] financial position,
results of operations and changes in financial position.
Accordingly, these financial statements are not designed for
those who are not informed about such matters.
Attached to each of these accountants’ compilation reports are
financial statements for each of the Sley Corporations. The
financial statements for each corporation include a balance sheet
listing that corporation’s assets and liabilities and
stockholders’ equity, and a statement of income and retained
earnings. Each page of each financial statement refers the
reader to the accountants’ compilation report. The figures used
in the compilation financial statements came from the books and
records of the Sley Corporations; the compilation financial
statements were prepared at the end of each year, as soon as the
books were closed.
In conjunction with the preparation of the compilation
financial statements for 1981 through 1984, Berger and those he
supervised used a financial statement compilation program, which
is a checklist of steps to be followed in preparing a compilation
financial statement. The introductory paragraphs on the
financial statement compilation program are as follows:
Page: Previous 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 NextLast modified: May 25, 2011