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Zzzz Best

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The audit of financial statements is a form of attestation service that the auditor issued a written report to express an opinion. Financial statements are materials that correspond with generally accepted accounting principles. When giving the information of the financial statements, ZZZZ client makes several claims about their financial conditions and results of restoration business operations. External users that trust the financial statements to make business decisions to observe the auditor’s report a warning of the statements’ trustworthiness. ZZZZ best company value the auditor’s assurance because of the auditor’s independent firm from the client. The knowledge of these financial statements that they report matters is important. A review of the financial statements is another method of attestation service, used by Certified Public Accountants. An audit does provide the highest level of assurance, a review provision that delivers a reasonable amount of assurance on the financial statements. A review would be further acceptable to meet the external user’s requirements. A CPA firm can charge a small fee other than audit report. Ernst & Whinney, independent accountants, has never issued an audit opinion for ZZZZ Best Company; however, they decided to do a review report. As stated in their engagement letter, the auditors provided three months of service until the contract end. There was a limit to prepare less possibility to examine; therefore, it means a low level of assurance in the review report than an audit report. Ernst & Whinney did resign as ZZZZ’s Best’s auditor before their contract expired within a full year. The management assertions about these existing contracts that consist of assets, obligations, and equities were included in the balance sheet, which also exists on the balance sheet date. ZZZZ Best’s auditors acquired the...

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