The first step is to go to the website of a publically-traded UScompany and select the most recent 10-K Form (legally-requireddocument publicly-traded companies must submit to the Securitiesand Exchange Commission [SEC] on an annual basis. Among otherthings, this document contains the opinion of the CPA firmregarding the company's financial statements and adherence toGenerally Accepted Accounting Principles [GAAP]. The contents ofthis form will be the basis of the team assignments in throughoutthe course.
Consider and discuss thespecific risks and nature of the company you will be auditing.
Create comprehensive audit programs for thecash, financial instruments, sale, and receivables accounts andcycles.
Submit a 1,400- to 1,750-word document thatincludes:
Audit steps for tests of controls, balances, transactions,analytical procedures, etc. as well as other considerations such assample size and sample methodology.
A brief summary page should be included in this document, 350 to700 words for each of the audit programs. Include in this summaryspecific financial information gleaned from the current Form 10-Kused to perform an analysis of work program steps. For example, ifthe team noted significant swings in the Receivables balanceyear-over-year, identify these swings and how you address them inyour work program (this is in essence an audit procedure -analytical review).
Wal-Mart is the selected company
The first step is to go to the website of a publically-traded UScompany and select the most recent 10-K Form (legally-requireddocument publicly-traded companies must submit to the Securitiesand Exchange Commission [SEC] on an annual basis. Among otherthings, this document contains the opinion of the CPA firmregarding the company's financial statements and adherence toGenerally Accepted Accounting Principles [GAAP]. The contents ofthis form will be the basis of the team assignments in throughoutthe course.
Consider and discuss thespecific risks and nature of the company you will be auditing.
Create comprehensive audit programs for thecash, financial instruments, sale, and receivables accounts andcycles.
Submit a 1,400- to 1,750-word document thatincludes:
Audit steps for tests of controls, balances, transactions,analytical procedures, etc. as well as other considerations such assample size and sample methodology.
A brief summary page should be included in this document, 350 to700 words for each of the audit programs. Include in this summaryspecific financial information gleaned from the current Form 10-Kused to perform an analysis of work program steps. For example, ifthe team noted significant swings in the Receivables balanceyear-over-year, identify these swings and how you address them inyour work program (this is in essence an audit procedure -analytical review).
Wal-Mart is the selected company
