Question
One responsibility of management is to assess risks within their company. The auditor will also need to assess these company risks and plan the audit
One responsibility of management is to assess risks within their company. The auditor will also need to assess these company risks and plan the audit accordingly. Choose a U.S. publicly traded company for this discussion. Access their annual company report, the 10-k report from the SEC website (www.sec.gov). What is the name of your company? Make sure to cite all sources and include the website URL to your company's 10-k report. Look at the Risk Factors that the company lists (usually located near the beginning of the report). Choose "3" risks that the company lists. List the three risks and explain how each risk will affect the audit or audit procedures, be specific. How will the auditor assess these risks?
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