TY Biltmore GS- bo The Biter group & property bsines which came into being on 1 January 20X8, on a number of investment propartas-The parent company, Biltmore plan the other nembers of the group, hed Ro connathon bebe tht date mores ‘hat ik: Ihe rectors o itmors plc havea reputson for adopting oporesie accountng pactpes. At the audit planning meeting the need for professional septic teas highightea Matenaliy for tho nancial etatrnont aso whole sta 1% oth Grou Total anol Total group asa at the yearend are £2423 ion a7, You are Jane Sith, a senior in Janes & Con secouting frm. David Willams, theaucit pote, he ene ys thteng oral To: Jane Smith From: David Willams, Audit Patner a Date: 5 February 20X9 Subject: Investment properties oyned by Bitmare group Following our eae cscustion, {would ike youto prepare 2 feporton the vestmant properties owned by the various rember ofthe Bilmore Gropp at 31 December 2X8, Detalls Df the investments aren an Appendix. As you know, ths is complex area ofthe aut The Valuation of investment propartet was identified as an area where there i a particu risk of material misstatement fo ithe detailed aut feldwork has heen complete ut the fingngaltatemants hg yt tg he finalised and agreed by the boardof directors, and the auditor's reportissilundef ~ * Sastraton felTee. (One thing 'm particulary concemed about the misclassfication of assts. A we have seen throughout this audit, the directors are very eeluctant to make acjustmerts to reclasuy such assets, arquing that Smo ; our repr should cori long he ppt eer fh nese: open nw si a datomens ote nae iaup = 931 Daca geo ase (b)“Aeaelton of ho ogiaiman tht would hav to be made othe gues inte dat ‘i Sn assis us lain tomer proper inthe consolidated financial xatements. (@ »vexnag 28 elzaion tn mpc or tn ace Po ie cag aaa: ‘Apperdinc Detalls of Biltmore investments es The dro ieencal stevens ou flows yy Summarised statements of comprehensive income forthe year ended 21 December 20x8 => Sitmore pe Subone ple Subtoo ple Fioene omer Gao) eo) 2 Summarised statements of financial position a at 31 Dacember 20X8. Biimore ple, Subone ple Subnoo pe a mediumsted office block in LondaW®Dectlande aa oe a rat oa beac eet ct Ganev Sener of Harmony Tower | Ras pute propery onthe morketTor ETSGi 0 Coventry building es Prepare the report required by the audit partner. Total: 40 marks fey ey: Rec: to 8-40, EN tm ne: probaly Cound be Vided af Ctl ition, Hor: ve ton wy ok Cost Buk is we ya Recave Aco-ds TERN 2 for\h i Me t Con eos tre cue wh Fl - Os We Exit et + fll on Pro ds ce pod ts Wom O Wobildy in Om ordey“Troodion befven Wockck Parkuipode of Measrcee wel Aso GPRA8 z dowel eA eee te 2, > ere 3. = te i donk) Beldp is Froilebt, vee FV im. te tes -£g £60 isn en ut an a a deol rots wohy WS ei A (ton FY. wis 0 pars aes octet re Pa wire | fae en (owas ws Be Sted ed be» (Op Copied. "We Gn o ae "Chapel 6 tore, Of if peeawe Fie Eterenie Bunedit-' No Si aie Hoe eee Sli eateueAE EDS iW PELL a 0-Hated Hie fo Fo fe Ger pote 4 Aone are (o- whith ems Cure duped CUR-16) Fons 8 Flows Garett te eb ont Lepore in ofda fo def Fe i) J Fk Ye need to deove tes rustic (ono ain hide. Thal w cl this ae hea fg aT, 1G ica ep Fiat TH FY: lop - i tl Et 31Doe, fe Pvt oy 20 a. te n x aa ve ao oi b Niet, Wel Sui G Ge ce Reached tied Har le He be eat Sepovet aioe Pa ee me ee en ee ee we need ts cheek te gi portion sin abs ye he iad oe Sahin takwiley (AR-4O iS Apprspwioke. Here « (| Co No Aducinat” Keanived. > Bug ta def > lowed Weakwe of AC bo, Becomoe tact Nodeless As the Fricke cloun Ar an dn Ha, Yorend, Hos. who Saditn fois down ta eof koe Ne we Bont neod Adjust ie dost Yorrerd: Ag ik ix 0 ete ) it Qhold be ditdkied in ney +o @ pice ¢f tes EY chore in Moakensal > no Adiutiog Entry = Eee « Wall: re ond de 0G ae | dhe ry gee tis Cie -2 Cheald| kk ee mea ee He a Aeia a Brat, BeLane in (1-2 ‘il wld be Reed ok Lovet “lot” PL &o- Crvett- prety Bd (Wee 770 UY Aiveat. poly, FO> eg ce ted thee: TN te Mdlviucl Books pe Ge clowifed Ac CAC- tg Pit , A Hes. pret vi ing. wed within te ne i, (Ag-l6 Mad ed PY ‘i ae i) EYlla. a ay 20 wo i “PRK 128 nevi Covek: Pp 120 Bot Bpepg poe: sec ea Reale 36 A ee ate a owe CTatelion ty twice Guild Ler Resale & Ye prowd iP B puts ee er een eee dus [Saad be Chute A (fe Ce ae SHS mn at te dole - onde a