Find the most current 10K (SEC annual report) and 10Q (SEC quarterly report) for Starbucks, either through the company’s Web site or the SEC Web site. Find the auditor’s report for the annual financial statements and the auditor’s review report for the quarterly financial statements (if there is one). Match the language to the PCAOB sample report.
Answer to relevant QuestionsGo to the Web site for international auditing standards: www.ifac.org/iasb/. Look for any standards and rules on that Web site that parallel those of the AICPA and PCAOB. Describe what you see as similarities and differences.What are audit planning and risk assessment considered together, early in the audit?What might influence an audit firm’s decision about whether it wants a company as a client?What are entity-level controls? Why are they important?Some people have said that auditing is no longer self-regulated because of the Sarbanes Oxley mandated registration and inspection process of the PCAOB, and because the PCAOB now sets auditing standards. Does this loss of ...
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