Audit report

1. Below is a jumbled auditor's report. Put the sentences in the correct order.

A	Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with approved standards on auditing in the USA. Those standards require that we comply with ethical requirements and 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 statements. The procedures selected depend on our judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity’s preparation of financial statements that give a true and fair view 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, 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 opinion.
B	Report on Other Legal and Regulatory Requirements In accordance with the requirements of the Companies Act 1965 in the USA, we also report that in our opinion the accounting and other records and the registers required by the Act to be kept by the Company have been properly kept in accordance with the provisions of the Act.
C	Opinion In our opinion, the financial statements give a true and fair view of the financial position of the Company as of 31 December 2014 and of its financial performance and cash flows for the year then ended in accordance with Financial Reporting Standards 2 and the requirements of the Companies Act 1965 in the USA.
D	We have audited the financial statements of Angel ltd., which comprise the balance sheet as at 31 December 2014, and the income statement, statement of changes in equity and cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information, as set out on pages AA to ZZ.
E	PES consulting 20 Walt street New York Chartered auditor J.Smith 2015/3/1
F	Other Matters This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies Act 1965 in the USA and for no other purpose. We do not assume responsibility to any other person for the content of this report.
G	To: the Board of Directors and Shareholders Angel ltd. 20 Avenue New York
H	Directors’ Responsibility for the Financial Statements The directors of the Company are responsible for the preparation of financial statements so as to give a true and fair view in accordance with Financial Reporting Standards and the requirements of the Companies. The directors are also responsible for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

2. Using the skeleton notes, write an Independent Auditor's report on Internal control (200-250 words), in consideration of internal control over financial reporting based on an audit of financial statements and internal control over compliance.

We have audited the financial statements of ___________________ as of and for the year ended ____________

We conducted our audits in accordance with ______________

The management of _______________ is responsible for _____________

In our report dated _______________, we expressed an adverse audit opinion on __________________. Our adverse opinion stated that _______________

Because of the significance of the matter discussed above, it's inappropriate to express an opinion on the summary ___________________.