SMART is periodically requested to express an opinion on one or more specified elements, accounts or items of a financial statement. For example, we may report on annual rentals, sales, royalties, incentive benefit plans, allowance for doubtful accounts, commissions expense and payable, and provision for income taxes. SMART may also be engaged to report on only a balance sheet or statement of operations. This type of service may be undertaken in conjunction with the audit of financial statements or as a separate engagement.

The auditor’s report states that the specified elements, accounts or items do not constitute GAAP financial statements and restricts distribution.