Select any publicly traded company and obtain its most recent 10-K filing.Links to an external site. (within the last two years). Select a different company from your peers.Assume that you have been assigned as the auditor for this company. Choose one of the topics below to discuss:Identify the risks the company included in its filing. As the auditor, you need to be aware of these risks, as they could have misstatement implications for multiple financial statement accounts. What concerns should you have about the risk of material misstatement in the financial statements for the company you selected?Review Footnote Disclosures and discuss any pending litigation. What is the primary concern for auditors and shareholders regarding disclosure of pending litigation? Discuss any related party transactions in the Footnote Disclosures. What is the primary concern for auditors and shareholders regarding the disclosure of related party transactions?

Step 1: Identifying Risks: Locate the "Risk Factors" section in the company's 10-K filing.Identify…

Answered: Select any publicly traded company and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Select any publicly traded company and obtain its most recent 10-K filing.Links to an external site. (within the last two years). Select a different company from your peers.

Assume that you have been assigned as the auditor for this company. Choose one of the topics below to discuss:

Identify the risks the company included in its filing. As the auditor, you need to be aware of these risks, as they could have misstatement implications for multiple financial statement accounts. What concerns should you have about the risk of material misstatement in the financial statements for the company you selected?
Review Footnote Disclosures and discuss any pending litigation. What is the primary concern for auditors and shareholders regarding disclosure of pending litigation?
Discuss any related party transactions in the Footnote Disclosures. What is the primary concern for auditors and shareholders regarding the disclosure of related party transactions?

Expert Solution