Wal-Mart Analyze the income statement for any potential risk factors and compliance issues with Generally Accepted Accounting Principles (GAAP) or International Financial Recording Standards (IFRS). B. Analyze the risk factors and compliance issues with GAAP or IFRS on the balance sheet. C. Using the internal control, analyze the cash and revenue for potential risk factors. 1. What risks need to be documented? 2. How does this information compare to the company or industry averages, or the companys past performance? D. Explain the audit universe and how you identified it. E. Based on your analysis of risk, devise a sampling program for the audit universe. F. Choose the most preferable audit testing procedures that could be used in the field, based on the audit universe items sampled in this situation.

Period Ending:Trend1/31/20181/31/20171/31/20161/31/2015Current AssetsCash and Cash Equivalents

$6,756,000$6,867,000$8,705,000$9,135,000Short-Term Investments

$0$0$0$0Net Receivables

$5,614,000$5,835,000$5,624,000$6,778,000Inventory

$43,783,000$43,046,000$44,469,000$45,141,000Other Current Assets

$3,511,000$1,941,000$1,441,000$2,224,000Total Current Assets

$59,664,000$57,689,000$60,239,000$63,278,000Long-Term AssetsLong-Term Investments

$0$0$0$0Fixed Assets

$114,818,000$114,178,000$116,516,000$116,655,000Goodwill

$18,242,000$17,037,000$16,695,000$18,102,000Intangible Assets

$0$0$0$0Other Assets

$11,798,000$9,921,000$6,131,000$5,455,000Deferred Asset Charges

$0$0$0$0Total Assets

$204,522,000$198,825,000$199,581,000$203,490,000Current LiabilitiesAccounts Payable

$68,859,000$63,008,000$58,615,000$58,583,000Short-Term Debt / Current Portion of Long-Term Debt

$9,662,000$3,920,000$6,004,000$6,670,000Other Current Liabilities

$0$0$0$0Total Current Liabilities

$78,521,000$66,928,000$64,619,000$65,253,000Long-Term Debt

$36,825,000$42,018,000$44,030,000$43,495,000Other Liabilities

$0$0$0$0Deferred Liability Charges

$8,354,000$9,344,000$7,321,000$8,805,000Misc. Stocks

$0$0$0$0Minority Interest

$2,953,000$2,737,000$3,065,000$4,543,000Total Liabilities

$126,653,000$121,027,000$119,035,000$122,096,000Stock Holders EquityCommon Stocks

$295,000$305,000$317,000$323,000Capital Surplus

$2,648,000$2,371,000$1,805,000$2,462,000Retained Earnings

$85,107,000$89,354,000$90,021,000$85,777,000Treasury Stock

$0$0$0$0Other Equity

($10,181,000)($14,232,000)($11,597,000)($7,168,000)Total Equity

$77,869,000$77,798,000$80,546,000$81,394,000Total Liabilities & Equity

$204,522,000$198,825,000$199,581,000$203,490,000