What is the responsibility of the auditor

Assignment Help Auditing

Reference no: EM131135786

For Home Depot, listed links below.

Discuss the audit report:

- Who is the corporation's independent auditor and in which city is the auditor located?

- List and explain the types of audit opinions.

- Read the auditors' opinions of the companies and indicate the type of opinion expressed by the auditors.

- An auditor's report will state the responsibility of the auditor. What is the responsibility of the auditor with regard to the financial statements.

- What guidelines do the auditors use to conduct the audit?

- Do the auditors believe the financial statements were presented fairly? What statements in the audit opinion support your conclusion?

- Present a comprehensive financial statement analysis. Prepare the common size statements and all the ratios and amounts for the measures given below for the three most recent years for both of your companies and present in a clear tabular form. Then discuss each category given below.

- Common-Size financial Statements

- Ratios from chapter 15

- For each company, chart the net income and cash flow from operations over the last three years. Based on a comparison of the income statement to the statement of cash flows, what accounts explain the greatest differences between net income (loss) and cash flow from operations. Comment on the quality of the earnings numbers.

- Discussion of the two firms' relative profitability, liquidity, and leverage. (Note: for this project, you may assume that your two reports are comparable because they cover the same fiscal period, although in fact they may not.)

- Discussion of the similarities and differences in financial reporting practices that might affect your analysis. Are the firms using the same or different methods of accounting for property, plant, and equipment, inventory, intangibles, etc.? How might such differences affect your analysis?

- Discussion of how you felt the disclosures provided by the two companies compared in terms of clarity and completeness.

- Critical Analysis regarding which firm you believe would be a superior investment for an equity investor. This is where the points are.

Financial reports from Home Depot (Quarterly, Annually, and SEC Filings).
https://ir.homedepot.com/financial-reports/annual-reports/recent (Links to an external site.)

Nasdaq-Income statement, balance sheet, cash flow, and Financial Ratios.
https://www.nasdaq.com/symbol/hd/financials?query=income-statement (Links to an external site.)

Stock Analysis-NYSE
https://www.stock-analysis-on.net/NYSE/Company/Home-Depot-Inc (Links to an external site.)

Home Depot SWOT
https://www.forbes.com/sites/greatspeculations/2015/10/06/home-depot-strengths-weaknesses-opportunities-and-threats/#4aa0ee7d5a4e (Links to an external site.)
https://www.valueline.com/Stocks/Highlights/The_Home_Depot__A_SWOT_Analysis.aspx#.V2_HFKKMRTs (Links to an external site.)

Home Depot Business Strategy
https://www.valueline.com/Stocks/Highlights/The_Home_Depot__A_SWOT_Analysis.aspx#.V2_HFKKMRTs (Links to an external site.)

Reference no: EM131135786

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