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Pres46

11/06/17 11:52 AM

#106543 RE: UNDAUNTED #106534

So are you attempting to claim that the $1m in inventory is completely bogus?

All you have to do is have someone check in the store in Jersey to see if there is any inventory there.

Management represents what the CPA believes is an accurate financial position of the corporation.

Always does, always will.

I have a large paint distributor here that I do a physical inventory of every year end. There are over 400,000 cans of paint in various volume. Do think for 1 minute I am going to count them all? Not going to happen for a couple of reasons. First I wont waste my time that way, second the company that I am auditing would find a more competent CPA firm if I spent days counting every piece of inventory and then sending them a bill for my wasted hours.

Being a CPA does not mean that you are stringent jerk. You have to work with the corporate management at all times.