The Following are questions about American Express.

5. Locate the Statement of Management Responsibility and the Report of the Independent Accountants (or Auditors Report) and read them carefully to answer the following questions.

a. Who is responsible for the preparation and content of the financial statements?

b. Does the company have an Audit Committee?

Yes

No

c. What is (are) the responsibility of the audit committee?

d. Which financial statements are covered by the audit report?

e. Who is responsible for assessing that the financial statements are fairly stated?

f. To whom is the audit report addressed?

g. Did your company receive an unqualified opinion?

Yes

No

h. If your company did not receive an unqualified opinion, what reason(s) was (were) given?

6. Review the Basic Company Facts and other parts of the Annual Report and the Proxy Statement to find the following information:

a.	Name of CEO
b.	Name of Chairman of the Board
c.	When will the annual stockholders meeting be held?
d.	List other interesting information/facts disclosed in this section?

7. Does your company prepare consolidated financial statements? (Check yes or no below) Often, the financial statement will have the word consolidated in its title to indicate that the corporation owns one or more subsidiaries and that the financial results of the subsidiaries have been combined with those of the parent company to produce a single set of financial statements.

Yes

No

When the company and the subsidiaries are combined, all transactions between the company and its subsidiaries must first be eliminated. Why do you think this is necessary?

8. What format was used to prepare your companys income statement? (Check one)

	Single-step
	Multiple step