We have engaged Brantley Janson to perform our 2021 financial audit. It will be completed prior to the 2022 annual meeting in November. We will be conducting them annually going forward. Once the Board has the results, we will share them with you along with a recommendation for how to best handle other overdue audits. Here are the contents of a letter sent to the Board describing the audit and a link to the actual letter.
June 1, 2022
To the Board of Directors
West Tapps Maintenance Company
This letter is provided in connection with our engagement to audit the financial statements of West Tapps Maintenance Company as of and for the year ended December 31, 2021. Professional standards require that we communicate with you certain items including our responsibilities with regard to the financial statement audit and the planned scope and timing of our audit, including significant risks we have identified.
As stated in our engagement letter dated June 1, 2022, we are responsible for conducting our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) for the purpose of forming and expressing an opinion on the financial statements. Our audit of the financial statements does not relieve you or management of your respective responsibilities.
Our responsibility for the supplementary information required by the Financial Accounting Standards Board, as described by professional standards, is to apply certain limited procedures to the information about management’s methods of preparing the information; however, we will not express an opinion or any assurance on the information.
Our responsibility relating to other information, whether financial or nonfinancial information (other than financial statements and the auditor’s report thereon), included in the entity’s annual report includes only the information identified in our report. We have no responsibility for determining whether the schedule of future major repairs and replacements is properly stated.
Our audit will include examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. Our audit is designed to provide reasonable, but not absolute, assurance about whether the financial statements as a whole are free of material misstatement, whether due to error, fraudulent financial reporting, misappropriation of assets, or violations of laws or governmental regulations. Because of this concept of reasonable assurance and because we will not examine all transactions, there is a risk that material misstatements may exist and not be detected by us.
Our audit will include obtaining an understanding of West Tapps Maintenance Company and its environment, including its internal control, sufficient to assess the risks of material misstatement of the financial statements and as a basis for designing the nature, timing, and extent of further audit procedures, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. However, we will communicate to you at the conclusion of our audit any material weaknesses or significant deficiencies identified. We will also communicate to you:
- Any violation of laws or regulations that come to our attention;
- Our views relating to qualitative aspects of the entity’s significant accounting practices, including accounting policies, accounting estimates, and financial statement disclosures;
- Significant difficulties, if any, encountered during the audit;
- Disagreements with management, if any, encountered during the audit;
- Significant unusual transactions, if any;
- The potential effects of uncorrected misstatements on future-period financial statements; and
- Other significant matters that are relevant to your responsibilities in overseeing the financial reporting process.
The timing of our audit will be scheduled to start in August 2022 and be completed by October 2022.
This information is intended solely for the information and use of the board of directors and membership of West Tapps Maintenance Company and is not intended to be and should not be used by anyone other than these specified parties.