n this assignment, you will utilize the skills learned in the last several units to evaluate a company's annual report.

First, select an annual report for a publicly traded corporation usingEDGAR. If you have trouble locating an annual report, you can use this guideto help.

Once you have located the annual report, address the following questions and discuss your findings. Please answer the questions in essay format, not question-and-answer.

• What is the name of the publicly traded company, year of the statement, and your reason for choosing this firm?
• Who was the auditor of the firm? What was the audit opinion, such as an unqualified opinion, based on the audit report's findings?
• What makes the audit report date so significant? How does it relate to the audit work and the audit procedures? Briefly discuss the relevance.
• What is a subsequent event? Provide at least two examples.
• Did the audit report include any critical audit matters? If so, how were they resolved? Explain.
• Share your thoughts on the analytical procedures used to audit revenue-related accounts. What duties are involved in the examination of the revenue process? How should those duties be segregated among individuals?
• Describe how control risk is related to some of the key substantive procedures used within auditing. How is control risk managed?
• Would you recommend that companies switch audit firms every few years for internal control purposes? Why or why not?
• Assuming the firm's balance sheet reflects inventory, what specific types of documents are used to record the inventory management process? Provide at least two examples.
• In addition to the procedures assessed above, explain the inherent risks relevant to both the purchasing process and inventory process. What are the most common inherent risks? Provide at least two examples.
• What types of transactions within the human resource (HR) management process could impact financial statement balances and accounts? In what way can internal controls be assessed, if any?
• Finally, now that you have a more thorough understanding of the audit report and the various procedures and steps involved in the process, reflect on how your chosen company complies with such processes. Do you have faith in the way the firm is conducting its annual audits? Do you believe it utilizes internal auditing activities on a regular basis? What recommendations, if any, would you share with the firm's chief financial officer (CFO) in terms of future audit planning?