 In this presentation, we will take a look at special reports that may be conducted by public accounting firms. Special reports may include financial statements prepared on a basis of accounting other than, first, a word from our sponsor. Well, actually, these are just items that we picked from the YouTube shopping affiliate program. But that's actually good for you, because these aren't things that were just given to us from some large corporation which we don't even use in exchange for us selling them to you. These are things that we actually researched, purchased, and used ourselves. Bayer dynamic? Not sure if I said that right, but this is the DT 770 Pro 250 OHM studio reference closed back headphones. I wear headphones basically every day for a large part of the day. They are important to me. Therefore, I've gone through many different kinds of headphones. I've had these for some time and they've worked quite well. 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In other words, typically if you're thinking about a publicly traded company, we would need they would need to have an audit that would be given typically in terms of generally accepted accounting principles, but it's quite possible that there could be an audit or other some type of engagement, some type of insurance engagement that would be something other than generally accepted accounting principles, such as a cash basis or possibly a tax basis. These things are often things that may be needed also by smaller companies as well. So for example, say someone needs a loan from a bank or something like that, a company does, they may need added assurance on their financial statements from the bank and the bank might be satisfied. They might be able to say, Hey, I know that your financial statements are in accordance with cash basis or possibly a tax basis. And what we want is assurance. And so we don't need you possibly to convert your financial statements to generally accepted accounting principles. In that case, what we still need is the assurance that the financial statements are prepared properly in accordance with the basis that you have put them together within, which might be a cash basis or a tax basis. So oftentimes that's going to be something that could happen in smaller types of organizations that may need some third party type of assurance service from a public accounting firm. And there could be some basis then other than generally accepted accounting principles on which the opinion is given. Then we have specified elements, accounts or items of the financial statements. So we might have to give an opinion or we may be asked to give an opinion on certain accounts and we might basically set up an engagement to give some type of opinion, not on the entire financial statements, but specific elements within it. So for example, they might ask us to audit the accounts receivable and test for accounts receivable and the fairness of the accounts receivable being audited given the allowance for doubtful accounts and that type of engagement could be an audit for something like a pension plan. Is a pension plan valued correctly or is it reported properly in the financial statements? There might be some specific need. And again, these audits typically come up because of some type of specific need. There's some kind of specific need within the business industry. They need more assurance about a specific section, possibly not the entire financial statements, but a specific component of them in order to meet whatever needs are there in order to give the added level of confidence that is needed within that third party agreement or opinion process. So that could be another type of engagement that could be for a public accounting firm compliance with aspects of contractual agreements or regulatory requirements. So if there's any specific contractual agreements or regulatory requirements, we could a CPA firm or a public accounting firm can be engaged in order to conduct an audits with regards to the compliance with those items. So again, you can see how this could come up in specific industries, specific areas where there's need to have some kind of third party assurance that there has been compliance with these regulations and then the audit would be of course conducted with regards to the compliance of them. Financial statements prepared on a basis of accounting other than generally accepted accounting principles, the typical basis these we would have cash basis, tax basis, and some kind of regulatory type of basis or the three kind of basis these we would have. Again, you would probably see this and more non publicly traded companies where they would need some type of audit, some type of if they're looking for a loan or something like that, they could get some type of audit for that the bank might be asking them, hey, we need some kind of third party validation that your financial statements are prepared correctly. We know that they're prepared in accordance with the cash basis or tax basis. We just need the assurance that they are prepared in accordance with that cash or tax basis and therefore the audit might be or some type of audit or engagement could be conducted with regards to those specific formats of accounting specified elements accounts or items of a financial statement. An auditor may be engaged to report on only specific parts of the financial statement. So again, we could be auditing for a specific component of the financial statement, there might be some need for some assurance within some specific component of the financial statement, it would be a lot simpler of an audit or less work, of course, to audit just that component if that's what is needed. Compliance with aspects of contractual agreements or regulatory requirements auditor will provide negative assurance on compliance with the provision provisions of contractual agreements or regulatory requirements. The auditor does not use the words in our opinion. So in other words, when we do this type of audit when a CPA firm or public accounting firm does this type of audit, we don't use the same language of in our opinion and said it looks something more like this. This is just an example in connection with our audit. Nothing came to our attention that caused us to believe that the company failed to comply with terms, covenants, provisions or conditions. So notice what that negative kind of language that we have there's kind of a disclaimer type of language kind of a lawyer talk type of language. So let's read it one more time. In connection with our audit, so with our audit, we did do audit, we gathered evidence. Nothing came to our attention. We didn't see anything come to our attention within the audit engagement that caused us to believe that the company failed to comply with terms, conditions, provisions and conditions of and so on and so forth.