ACTG 4620 Risk Assessment Exercise Spring 2018 Using the CIK code, search for the most recent 10-K for this company (either 2018 or 2017) on the SEC's website. Once you find the 10-K, review the document to answer the following questions: Compan CIK Code Avid Bioservices, Inc. 704562 1. Who audited the financial statements? 2. What type of audit opinion did the company receive? 3. Were any emphasis of matter or other matter paragraphs added to the opinion? If so, what did these paragraphs address? 4. Find the section of the 10-K that addresses risk factors identified by the company. How many risk factors were identified? 5. Select two of the risk factors that you believe will affect the financial statement audit, For each risk: a. Provide a brief summary of the risk. b. Do you believe that this risk is a financial statement level risk or does it relates to specific accounts and assertions? If it relates to specific accounts/assertions, identify the general ledger accounts and assertions that you believe would be affected by this business risk. This assignment must be completed on an individual basis and will be worth 25 points. Please type your solutions to the questions above. (Handwritten solutions will not be accepted.) Attach to your solution a copy of the audit report for the company, and a copy of the two risk factors that you identified from the 10-K. This assignment will be due at the beginning of class on March 13. ACTG 4620 Risk Assessment Exercise Spring 2018 Using the CIK code, search for the most recent 10-K for this company (either 2018 or 2017) on the SEC's website. Once you find the 10-K, review the document to answer the following questions: Compan CIK Code Avid Bioservices, Inc. 704562 1. Who audited the financial statements? 2. What type of audit opinion did the company receive? 3. Were any emphasis of matter or other matter paragraphs added to the opinion? If so, what did these paragraphs address? 4. Find the section of the 10-K that addresses risk factors identified by the company. How many risk factors were identified? 5. Select two of the risk factors that you believe will affect the financial statement audit, For each risk: a. Provide a brief summary of the risk. b. Do you believe that this risk is a financial statement level risk or does it relates to specific accounts and assertions? If it relates to specific accounts/assertions, identify the general ledger accounts and assertions that you believe would be affected by this business risk. This assignment must be completed on an individual basis and will be worth 25 points. Please type your solutions to the questions above. (Handwritten solutions will not be accepted.) Attach to your solution a copy of the audit report for the company, and a copy of the two risk factors that you identified from the 10-K. This assignment will be due at the beginning of class on March 13