10letter addressed to the client. The body of the report refers to the specific client-prepared financial statements which are attached. In the case of the so-called “”unqualified report”” (of which Peat Young’s report on the Company’s 1982 financial statement is an example)

two paragraphs are relatively standard. In a scope paragraph
the CPA firm asserts that it has examined the accompanying financial statements in accordance with GAAS. GAAS are promulgated by the American Institute of Certified Public Accountants (AICPA)