544 Part Two The inancial Satment Audi EXHIBIT 121 Standard (Unmodified) Report

Question

544 Part Two The inancial Satment Audi EXHIBIT 121 Standard (Unmodified) Report for Nonpublic Entity Independent Auditor's Report To the Board of Direc tors and Shareholders of Dunder-Milfflin Inc. financial statements of Dunder-Milfin inc, which comprise the balance sheet changes in shareholders' equity, and cash flows We have audited the accompanying as of December 31, 2017, and the related statements of income, for the year then ended, and the related notes to the financial statements Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial The selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opiton Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Dunder-Mifflin Inc. as of December 31, 2017, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America Michael Soare. LAPp Scranton,PA January 29, 2018 Following the opinion paragraph, the auditors' report should . Be signed using the firm's nanm

Explanation / Answer

The independent auditor’s report in the above states that the financial statements of the Dunder-Miffin Inc. Taking into consideration the independent auditor’s report it is clear that the Auditor has conducted the audit in accordance with the Generally Accepted Auditing Standards. The audit has been properly planned and conducted. The financial statements include the Balance sheet, profit and loss account, statement of cash flow, statement of changes in equity and notes to accounts.     

The auditor has mentioned that it is the responsibility of the management to prepare and present the financial statements and the auditors are only responsible to express their opinion on the financial statements. The auditor is responsible to express opinion whether the financial statements reflect the true and fair picture of financial performance and position of the organization as on a particular date.

The auditors have corroborated necessary evidence to base their opinion on the financial statements of the company. Based on which the auditors have concluded that the financial statements reflect the financial performance and position of the company fairly.

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