I am needing a little help getting started. If anyone can help me get start would be great. I am doing Netflix Inc. Hint: The business and risk information is usually found in the first part of the Form 10-K. However, for the risks, do not simply restate what is in the Form 10-K. Think like a senior manager at a CPA firm - what accounts (Cash, A/R, Revenue, Inventory, etc.) might be the most potentially risky and why? For example, an airline might not have the same inventory considerations found with a retail outlet like Wal-Mart.

General Audit Concerns

The requisite background you and your team will need to adequately audit this company. Time it will take to adequately audit this client. General Business Concerns .

Has the company you're auditing recently increased or decreased their operations due to mergers or sales of parts of the business?

Are they a conglomerate with lots of disparate kinds of goods and services, or are they a simple straight-forward type of business operating in a relatively small location?

Are operating supplies (such as jet fuel or specialty plastics) in short supply or subject to wild pricing swings on the open market?

What about overseas operations - are they operating in dangerous parts of the world?