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Scope
We have audited the financial statement of Munch Pack as of November 28, 2018. This financial
statement is the responsibility of the Entrep Team's management. Our responsibility is to express an opinion on
this financial statement based on our audit. We conducted our audit in accordance with the Mechanics for
Entrepreneurial Simulation Activity and the policies and procedures required by the College of Business and
Accountancy. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statement is free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit of the balance sheet provides a reasonable basis for
our opinion.
Opinion
In our opinion, the accompanying financial statements present fairly, in all material respect of
the Munch pack for the day ended November 28, 2018 in accordance with the Mechanics for Entrepreneurial
Simulation Activity and the policies and procedures required by the College of Business and Accountancy.
Audit findings:
Philippines
November 29,2018
SPECIAL AUDIT ENGAGEMENT
Audit Checklists
Affirmed by:
-Auditor
-Auditor