Working in family painting business

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Encore Painters Ltd. (EPL) was founded in 2008 by Marlon Rodrigues who grew up working in his family's painting business. Marlon's goal was to create his own business and now EPL is one of Canada's top painting and decorating companies. At the beginning of this fiscal year, as the sole shareholder of Encore Painters Ltd. (EPL), Marlon decided to hire a CEO because he was tired of dealing with the day-to-day operations. You, CPA, are the audit senior on the EPL engagement. EPL has been a client of your firm for three years and each year, the audit has gone smoothly. You recently met with EPL's bookkeeper, Tiffany Green, to discuss this year's engagement and were informed of a number of changes that have taken place at EPL during the year. A summary of these significant changes is included the notes you took during the meeting (Exhibit 1). After you met with Tiffany, you tried to set up a meeting with the new CEO, Erin Callan, but she did not return any of your phone calls. The partner is meeting with you tomorrow and would like you to provide a summary of any significant issues she should be aware of.

Reference no: EM133672100

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