Question: Hello I I am wrting a financial statement analysis from an audit report for Air Canada. I am struggling on the folllowing part. Please help
Hello I
I am wrting a financial statement analysis from an audit report for Air Canada. I am struggling on the folllowing part. Please help me to complete this task. Thank you very much
you may find 2021 audit report in the following link
https://www.aircanada.com/content/dam/aircanada/portal/documents/PDF/en/quarterly-result/2021/2021_FSN_q4.pdf
Air Canada Anual report can be found in this link
https://investors.aircanada.com/annual-reports
Part III: Audit Report and Risks
- Go into the Annual Report and look for management's risk analysis - most companies will assess the future business risks of their company.
- Describe one risk facing the company that is interesting and different from all other types of companies - i.e., it is specific to its business - DO NOT DISCUSS ANYTHING TO DO WITH SOFTWARE TECHNOLOGY AS THIS IS COMMON TO ALL COMPANIES
- Go to the Independent Auditor's Report and identify the auditor of the company and determine if the company receive a clean opinion? How do you know? (2 marks)
- Check for any related party transactions disclosed - you may need to go to the Notes to the F/S unless management has disclosed it in the MD&A (remember Chapter 3 and risk analysis) Select one related party noted and provide details on what was involved in the transaction and who the transactions were with.
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