Question
Client acceptance policies and procedures generally include obtaining and reviewing financial information from prospective clients. Required: Your firm is considering acceptingApple Inc.as a new audit
Client acceptance policies and procedures generally include obtaining and reviewing financial information from prospective clients.
Required:
Your firm is considering acceptingApple Inc.as a new audit client. You are helping to perform client acceptance procedures by reviewing prior financial information.Go to the sec.gov website and search for Apple Inc.'s most recent 10-K filing. Read through the Item 1, Business, and Item 1A, Risk Factors, sections. What characteristics are red flags for potential problems? What characteristics would make Apple a desirable client?
https://d18rn0p25nwr6d.cloudfront.net/CIK-0000320193/1a919118-a594-44f3-92f0-4ecca47b1a7d.pdf
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
14th Edition
1119707110, 978-1119707110
