The following quote was taken directly from the audit report written by Price water house Coopers on
Question:
The following quote was taken directly from the audit report written by Price water house Coopers on the 2014 financial statements of Kroger.
“In our opinion, the accompanying consolidated balance sheets and related consolidated statements of operations, comprehensive income, cash flows and changes in shareholders’ equity present fairly, in all material respects, the financial position of The Kroger Co. and its subsidiaries at January 31, 2015, and February 1, 2014, and the results of their operations and their cash fl ows for each of the three years in the period ended January 31, 2015, in conformity with accounting principles generally accepted in the United States of America.”
Explain the meaning of the quote and the terms used in it.
Audit ReportThe audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
This is the normal statement that an auditor would make about a company whose books it had audited a...View the full answer
