Cpa Report

In: Business and Management

Submitted By jordan523
Words 312
Pages 2
MEMORANDUM
TO: Outside CPAs , XYZ Company
FROM:
DATE: August 19, 2013
SUBJECT: CPA Report
CC: Jane Doe, Accounting Manager

A CPA has many professional responsibilities. My personal responsibilities are to take ownership in certain aspects of the organization such as finance and record keeping. Moreover, I am responsible for reviewing and auditing the financial books to ensure accuracy and compliance. A review consists of analytical procedures and inquiries to ensure there is no need for material modifications of the financial statements. An audit has different procedures including; testing internal controls, assessing fraud risks, and testing samples of accounting records. In some cases, I may help develop new processes to streamline day to day activities. I also help oversee tax preparation for the organization, although tax is not my specialty. On certain occasions I am involved in the hiring process, to ensure we place the right candidate in the right position. Lastly, it is my duty to adhere to a strict code of ethics and remain professional at all times.
In addition to the responsibilities listed above, there are certain situations that may arise that need further explanation. In a recent meeting, I was asked to provide the following detailed explanations.
Methodology used to determine deferred taxes:
Procedures for reporting accounting changes and error corrections:
Rationale behind establishing the subsidiary as a corporation: A subsidiary corporation is a type of business that is owned by a larger corporation, also known as the parent company. The parent company can own the entire corporation, or a large percentage of the shares in that corporation. Additionally, the parent company has the option to control the actions of the subsidiary corporation.

Thank you very much for your feedback and inquiries regarding the subsidiary. I hope…...

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