Phillips & Craig LLP was hired by Richards Manufacturing, a

Phillips & Craig LLP was hired by Richards Manufacturing, a public company, to perform an integrated audit of the December 31, 2022, and internal controls. Phillips & Craig was hired just after yearend, on January 3, 2023. Because of the tight deadline to complete the audit before the SEC filing deadline, Phillips & Craig focused more time on performing substantive procedures for the financial statement audit and was not able to complete a full audit of ICFR. The tests of controls that were completed provided evidence that internal controls were effective. The audit manager for Phillips & Craig tells the partner, “I feel certain if we had the time to complete all of the planned tests of controls, we wouldn’t identify any material weaknesses. We already decided to issue an unqualified opinion on the based on the evidence gathered from our substantive procedures, so I’m sure the internal controls are effective.”

Required

What type of opinion on the effectiveness of ICFR should Phillips & Craig issue? Evaluate the situation and provide support for the type of opinion selected.

How Our Website Works

1. FILL IN OUR SIMPLE ORDER FORM

It has never been easier to place your order. Fill in the initial requirements in the small order form located on the home page and press “continue” button to proceed to the main order form or press “order” button in the header menu. Starting from there let our system intuitively guide you through all steps of ordering process.

2. PROCEED WITH THE PAYMENT

All your payments are processed securely through PayPal. This enables us to guarantee a 100% security of your funds and process payments swiftly.

3. WRITER ASSIGNMENT

Next, we match up your order details with the most qualified freelance writer in your field.

4. WRITING PROCESS

Once we have found the most suitable writer for your assignment, they start working on a masterpiece just for you!

5. DELIVERY

Once finished, your final paper will be available for download through your personal dashboard. You will also receive an email notification with a copy of your paper attached to it. Sometimes, the writer may leave a note for you about the order in case there is any additional information that they need to give you.

Leave a Reply

Your email address will not be published.