Analyzing A Copy For The Means Of Producing A Deliverable Audit Report

1600 WordsFeb 26, 20177 Pages
Introduction When analyzing a copy for the means of producing a deliverable audit report, there are a few details that must be considered first. One of the important aspects to increase risk awareness and improve upon the current operations. To convey this thru the reporting, it is important to know the organizations reporting practices; when and to who do they report the finding to? Once the auditor has this information, they need to determine the objective for the audit. Knowing this information will help to determine the approach to take. Next a structure will need to be developed; how will the audit report be communicated? This is a vital step when conveying potentially intricate detail, it must be clear to the receiver. The auditor…show more content…
Additionally, they offer services, such as flooring install and outsource services that they are unable to accommodate like plumbing. ("Home Depot’s Product Portfolio and Supplier Relationships - Market Realist," n.d.) Home Depot reports their financials quarterly. The major financial statement items include parts I thru IV. Part I contains a little background on the company, as well as operational strategies, risk factors, unresolved staff issues, property, any legal proceeding and safety strategies. Part II contains stockholder matters, management discussion, disclosures about market risk, management statement over responsibility and report over financials, any changes and disagreements on disclosures and controls and procedures. Part III includes information on executives and corporate governance, executive compensation, security ownership and related stockholder matters, related transactions and director independence and accounting fees and services. Lastly, part IV contains the consolidated balance sheet, statement of earnings, comprehensive income, stockholder’s equity and cashflows. Additionally, it includes the notes to the financial statement and accounting policy section. All of these sections can be found on the SEC website at https://www.sec.gov/Archives/edgar/data/354950/000035495016000060/hd-1312016x10xk.htm. ("10-K The Home Depot," n.d.)

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