An independently owned member RSM US Alliance
Member of AICPA Division for Firms Private Companies Practice Section
SHANNON M. WEBSTER
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors SOCC, Inc. dba
Seven Oaks Country Club
Bakersfield, California
Qualified Opinion We have audited the financial statements of SOCC, Inc. dba Seven Oaks Country Club (the Club) which comprise the statements of financial position as of December 31, 2022 and 2021, the related statements of activities and cash flows for the years then ended, and the related notes to the financial statements. In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying financial statements present fairly, in all material respects, the financial position of the Club as of December 31, 2022 and 2021, and the results of its operations and its cash flows for the year ended December 31, 2022 in accordance with accounting principles generally accepted in the United States of America. Disclaimer of Opinion on 2021 Operations and Cash Flows We do not express an opinion on the accompanying results of operations and cash flows for the year ended December 31, 2021. Because of the significance of the matter described in the Basis for Disclaimer of Opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the results of operations and cash flows. Basis for Qualified Opinion Accounting principles generally accepted in the United States of America require that lessees recognize right-of-use assets and lease liabilities for long-term leases. Management has informed us that they have not recognized leased assets and related liabilities in the accompanying financial statements, and that the effects of this departure from accounting principles generally accepted in the United States of America on financial position, results of operations and cash flows have not been determined. We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standar ds are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Club and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion on the statements of financial position as of December 31, 2022 and 2021, and the statements of activities and cash flows for the year ended December 31, 2022.
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300 New Stine Road – Bakersfield, CA 93309 – Tel. 661.834.7411 – Fax.661.834.4389 – www. dpvb.com
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