Auditors are required to obtain and support an understanding of the entity and its environment in order to identify business risks. Much of the information needed to identify the risks can be obtained from the company’s annual report, 10K, and proxy materials. Many companies publish these documents on their website. Additionally, industry information on these companies can be obtained from websites such as Yahoo (yahoo.marketguide.com).
In groups of two or three members, complete the questionnaire for a real- world company assigned by your instructor. The questionnaire can be downloaded at www.mhhe.com/ messier9e. There may be some questions asked on the questionnaire that you will be unable to answer. If you cannot answer a question, respond “information not available.”