Locate the most recent 10-K for Apple Inc. Scan through the 10-K sections on Business, Properties, Risk
Question:
Locate the most recent 10-K for Apple Inc.
Scan through the 10-K sections on “Business”, “Properties”, “Risk Factors”, and “Legal Proceedings”.
Look over the company’s financial statements (Item 8 of the 10-K)
Based on what you’ve seen in your brief review, list 10 things about this company that you would consider as part of planning your audit. Select a variety of items, including inherent risks, pending litigation, significant account balances, areas involving judgment, etc.
Discuss each item: why you chose it, its significance/risk, what types of controls you’d be looking for around that item, and how you might go about testing the item to obtain audit evidence.
South Western Federal Taxation 2020 Corporations, Partnerships, Estates and Trusts
ISBN: 9780357109168
43rd edition
Authors: William A. Raabe, James C. Young, William H. Hoffman, Annette Nellen, David M. Maloney