BU547 Lecture Notes - Lecture 3: Trial Balance, Financial Statement, Audit Evidence
Document Summary
Melton"s pie company (mpc) is a privately-owned local bakery that has just obtained a loan from the bank to be able to open a second location. As part of the terms of the loan, the bank requires audited financial statements for the year ended december 31, 20x2. It is now march 20x3 and the audit of mpc is currently in progress. Ryan, had a family emergency arise and had to leave unexpectedly. The engagement partner has asked you to pick up where the last senior left off. You review the file and note the following: mpc does all of its banking with a single institution. Ryan sent a confirmation to the bank to confirm the amount of cash in all of its accounts. The bank was slow to return the confirmation, so ryan asked the accountant at mpc to help.
