Look at two recent corporate annual reports from two different companies (one annualreport per company), both within the same industry. One of the reports should come from a U.S.company, and the other report should come from a company based in a country other than theU.S. (preferably a company that has its stock traded on one of the U.S. stock exchanges [NYSE,ASE, NASDAQ]).Please submit a written answer for the following specific items:

• Name of corporation

• Date/period of the report

• Name of the audit firm that conducted the audit

• Did the auditors mention their review of “management’s report on internal control”?

• Speed-read the text for each report and describe at least one instance where the textmakes reference to legal or contractual issues that affected the company in one way oranother. Your description should be no longer than one or two paragraphs per company. On what page of the report is this text located?

• Any quick comments that you can make about legal issues that are common to more thanone company would be useful.