The company:                                            TICKER       EMP#    Market Capitilization      BETA

 

GREENIDGE GENERATION HOLDINGS INC.    XNAS:GREE     347      32058390                  3.623

 

As a CPA, you have received an offer to audit new company. You should consider as a potential client. It would be best if you had to understand and analyze the previous year's financial statement (F/S), notes to F/S, predecessor auditor opinion, and some financial verifications. To understand a new client,

1. 1. briefly describe the business of the selected company (the type of products or services, location, number of employees, number of shareholders, capitalization, total assets, etc.). Include a table to summarize the main characteristics of the selected companies,
2. 2. illustrate any issues with Risk Factors. Explain why company need to include Risk Factors in their reporting,
3. 3. identify the type of the last 3-year predecessor auditor's opinion, any deviation from unqualified opinion

Discuss all requirements by giving examples of the company's financial reporting (10-K), including the 10-K pages (from where you obtained the information). Include Table 1 as an appendix in your draft

 

 

Table 1: General description of selected companies Going concern IC Significant Weaknesses IC Material Weaknesses Auditor opinion Internal Control Financial Reporting (ICFR) Risk Factors Business type and activities Auditor Opinion date F/S date File no. Report State Incorporated Ticker Company Co. 1