Five Minute Freewrite: Does Not Correspond

M & B pharmaceuticals is a leading drug company. For the past fifteen years no other indigenous pharmaceutical company have rivalled them within this space of time. Within this period of time they have also spread their reach to six locations in addition to the original two which they started with.

They usually make large turnovers in every financial year. However, the government decided to increase their tax. In the first year they didn't feel the impact but in the subsequent years the high tax began to show on them.

Allen Group, a known audit company was engaged to audit the accounts of M & B pharmaceuticals so as to enable them get a lower tax assessment or even a rebate. They delegated that duty to Gareth who is the most senior in the firm.

Gareth did that job off audit for a fortnight. The audit covered a period of five years. At the conclusion of the audit exercise Gareth presented the report to the M & B pharmaceuticals who thanked him and his firm for a job well-done.

The CEO of M & B pharmaceuticals called for an emergency exco meeting wherein he presented the audit report to the house. The report indicated that the company was running a big deficit - this hasn't happened for a long time now. Few other excos were surprised at the report presented because it does not correspond with the ones they have. The CEO forgot that an advanced copy of the audit report was sent to the company secretary before it was presented and handed over to him.

This mix-up made the emergency meeting to be adjourned sine dine pending when the two reports will be harmonized.

A Five Minute Freewrite: Does Not Correspond.