Memo to Clients

In: Business and Management

Submitted By sjanetham
Words 333
Pages 2
Memorandum
To: All Clients
From: Jennifer Lopez – Junior Accountant
Date: September 03, 2012
Subject: SAS 115 - Statement on Accounting Standards
CC: Learning Team B

As your accounting firm, we will continue to provide you with professional, accurate, financial information. As your auditor of choice, know that we follow the rules and guidelines set forth under the Statement of Accounting Standards (SAS) to ensure your financial auditing needs are met. We appreciate your continued business and will forever strive to ensure our relationship is strong. Whether or not you have an accounting background, our reports are designed to thorough and easy to understand. Recently the SAS has added a rule, SAS 115, which requires that auditors practice and states that our communication with you is our priority, and we must disclose certain information. This amendment is important as its intention is to reduce communication and expectation issues.
Please note that there are now four categories for the expanded disclosure (Turner, Mock, Coram, & Gray, 2010): 1. The actual Audit; 2. The quality of the financial statements; 3. The quality of the financial reporting system; and 4. The sustainability of your business.
Each of the categories above will provide detailed information including our level of assurance, research, and reasons for the audit. Additionally, we will openly and constructively communicate our accounting practices, express in writing the details and analyses of the financial documents, and provide information, reasoning, and relevance regarding your company’s sustainability so you can enhance decision-making efforts. Finally, any need for additional research, now or in the future, will be communicated in writing and will include costs and fees, confidentiality, and suggested future outcomes for the company, based on all the…...

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