The first step is to go to the website of a publically-traded US company and select the most recent
10-K Form (legally-required document publicly-traded companies must submit to the Securities and
Exchange Commission [SEC] on an annual basis. Among other things, this document contains the
opinion of the CPA firm regarding the company’s financial statements and adherence to Generally
Accepted Accounting Principles [GAAP]. The contents of this form will be the basis of the team
assignments in throughout the course. – APPLE INC. IS THE COMPANY
Consider and discuss the specific risks and nature of the company you will be auditing.
Create comprehensive audit programs for the cash, financial instruments, sale, and receivables
accounts and cycles.
Submit a 1,400- to 1,750-word document that includes: WRITE ABOUT 300 – 450 WORDS Audit steps for tests of controls, balances, transactions, analytical procedures, etc. as well as
other considerations such as sample size and sample methodology.
audit programs. Include in this summary specific financial information gleaned from the
current Form 10-K used to perform an analysis of work program steps. For example, if the
team noted significant swings in the Receivables balance year-over-year, identify these
swings and how you address them in your work program (this is in essence an audit
procedure – analytical review).