Basicfinancial statements refer to balance sheets, statements of income,statement of retained income or changes in stockholder equity andstatement of cash flows that are the core materials in the auditingprocess. Additional materials are explanation of these basicmaterials, historical summaries, statistical data extracted from thebasic material they may be from outside sources but must relate tobasic materials.
Additionalmaterial whether required by management or GAAP or law is used toshed light on the basic financial materials and to explain or givesummaries of the basic material over time show material misstatement.
Theauditors feeling about the adequacy of the insurance, the summary offixed assets additions, five-year summary of the important companyratios determined at auditor`s discretion, a schedule of notespayable accompanied by interest rates collateral and paymentschedule. The above material represents additional finance materialsas they relate or somehow shade some light on the basic financialmaterial.
Weaudited the basic financial statements of Ren Gold ManufacturingCompany indicated on page — to—, that consist of balancesheet, statement of equity, P&l statement and statement of cashflows as at 31 Dec xxx. We did our auditing in accordance AmericanInstitute of Certified Public Accountants standards. We believe thatthe audit evidence obtained is enough and appropriate for us to makea basis for an opinion.
Inour opinion the basic financial statement, give a fair and true viewof the financial dealings, cash flows and the financial positionended the year xxx Dec 31.
Theauditor`s feeling about the adequacy of the insurance, the summary offixed assets additions, five-year summary of the important companyratios determined at auditor`s discretion, a schedule of notespayable accompanied by interest rates collateral and paymentschedule. Such information was not subjected to the auditingprocedures used in the audit of the primary financial statements wecannot express an opinion.
Ainapure,V., & Ainapure, M. (2009). and assurance