One Drop Canada

Auditors Opinion
Type
There be 4 types of study opinion:
1.Unqualified opinion- which means that an listener states the monetary avowals are fairly presented in conformance to generally accepted accounting principles.
2.Qualified opinion- when the auditor encounters champion or two types of situations which do not comply with GAAP but the rest of the financial statements are fairly presented.
3. disclaimer opinion- given by the auditor when the auditor could not straining an opinion and thus refuses to present an opinion on the financial statements.
4.Adverse opinion- provided when financial statements are misstated and do not settle with GAAP. (F/Ss are not fairly presented.)
By looking at the Auditors study on the audited annual report p.1, we have concluded that the auditor gave an unqualified opinion because the auditor stated the financial statements are fairly presented in accordance with Canadian Generally accepted accounting principles
Addressed
Auditors report is addressed to the members of ONE DROP foundation as stated on p.1 of the audited financial statement. However, the auditor, even though employ by the organization, represents the users to the financial statement. These users include creditors, investors, employees, contributors etc...
Date
The go through of the financial statement is December 31, 2009.



This means that the fiscal year of the organization ends on December 31. However, auditors report date is February 25, 2010. This date represent the date on which the auditor released his report, and this date is afterwards the financial statements date (after the fiscal year) since the auditor had to check and rely that the financial statements were fairly presented based on GAAP.
Firm for flowing and preceding year
Deloitte was the CA firm auditing the organization in the up-to-date and preceding year. This means that Deloitte already has experience and knowledge of the organization.
size of it and type of CA firm
Deloitte is one of the big four CA firms (Deloitte, KPMG,...If you want to get a full essay, order it on our website: Ordercustompaper.com



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