+ 1 (775)-251-8078 Academicians2012@gmail.com

The first step in this process is to go to the website of a publicly-traded US company and select the most recent 10-K Form (legally-required document publicly-traded companies must submit to the Securities and Exchange Commission – SEC – on an annual basis. Among other things, this document contains the opinion of the CPA firm regarding the company’s financial statements and adherence to Generally Accepted Accounting Principles – GAAP). The contents of this form will be the basis of the team assignments

The company is Facebook.  

Section 4, Audit Tests

The reading in Chapter 13 (p. 402-407) describes five types of audit tests of financial statements: 

(1) Risk Assessment Procedures

(2) Test of Controls

(3) Substantive Tests of Transactions

(4) Analytical Procedures

(5) Tests of Details of Balances.

In 350- to 700-words:

Identify which tests are best suited for the company you selected and why. 

Explain why some tests are not suitable.

The above question has been answered by one of our experts. We can also create a unique answer for you From Scratch!

Note: This is a sample question posted by one of our clients. If you would like to have a unique, plagialism free paper,click the "Order Now" button below to get started.

Answer Ratings: