Assume that you have joined the audit staff at Haskell & White and the partners seek your assistance to gather information and pursue an auditor-client relationship with Orange County-based BIOLASE, Inc., a public company that trades on NASDAQ CM under the
symbol BIOL. From the information you gather, write a file memorandum addressing the following three components:
1. Steps or actions that you would consider appropriate in order to get Haskell & White in front of the BIOLASE decision-makers in order to present a proposal and win the engagement. Assume there are currently no direct relationships. In other words, how would you suggest that you/the Firm begin to develop necessary relationships to ultimately be in a position to present a proposal for services to this company? Please think way beyond a 'cold call' to the company as this should be considered a
relatively long-term marketing action plan.
2. Identifiable Business Risks for BIOLASE and related Risks of Material Misstatement (including observable Inherent Risks and identifiable
Control Risks). In this section, you should also include discussion points/concerns that you identify that would require follow-up with
BIOLASE's personnel during an interview of BIOLASE.
3. Based on the information gathered and discussed in #2 above, discuss positive attributes and negative concerns about BIOLASE and/or concerns for the Firm that you identify that would have a bearing on the Firm's decision to accept BIOLASE as a client of the Firm assuming that we were to present and BIOLASE were to ultimately accept a proposal.
Guidance:
Papers should be approximately 4 to 6 pages in length, typed, double-spaced