Audit Report

ASSIGNMENT 08 BZ460 Project Management Directions: Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length; refer to the "Assignment Format" page for specific format requirements. Create an audit report for a hypothetical project of your choosing. Be sure to include each of the six (6) minimum content requirements that should be included in an audit report. The attachment is the Audit Report I created. Please add to it making it the required 550 words, single spaced, 2 sources and put it in the required APA writing format. This is the end of Assignment 08. Below is the instructors notes when I submitted it the first time... Additional instructor's comments about your submission Student, this is a good start on the assignment, but there is much more you can add about this assignment. The minimum requirement for this assignment is 1 single-spaced page (not including header, or the questions). Please revise your paper and resubmit for a grade when ready. Thanks, Mrs. R. Also, this is the six (6) minimum content requirements that should be included in an audit report. 1.)Introduction description of project and its goals 2.)Current status comparison of work completed and planned 3.)Future project status conclusions regarding project progress recommendations for changes for subsequent projects 4.)Critical management issues issues senior management should monitor 5.)Risk analysis and risk management potential for project failure and monetary loss 6.)Final comments caveats, assumptions, limitations Lastly, I have uploaded the Power Point Lecture notes. INDEPENDENT AUDITOR'S REPORT BELOW IS THE AUDIT REPORT THAT YOU CAN USE, JUST ADD ALL THE ASSIGNMENT REQUIREMENTS I MENTION ON THE INITIAL REQUEST. Board of Directors of XYZ CANDY CO., INC. 123 Sugar Lane Candy Land, AZ 42356 We have audited the accompanying balance sheet of XYZ CANDY CO., INC. (the “Company”) as of December 31, 2011, and the related statements of income, retained earnings, and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibili¬ty is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of XYZ CANDY CO., INC. as of December 31, 2011, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Sweet & Sour LLP Certified Public Accountants Candy Land, AZ March 12, 2012