ACC 562 Week 10 Assignment 4 – Financial Analysis
ACC
562 Week 10 Assignment 4 – Financial Analysis
Visit
the Website of Eastman Kodak at http://www.kodak.com
and review the most recent financial report.
Write
a six to eight (6-8) page paper in which you:
Evaluate
the current financial condition of Eastman Kodak based on its most recent
quarterly report, which can be located at http://www.Kodak.com.
Based on your evaluation, discuss the most significant “red flags” for its
public accounting firm to consider.
Assume
that you are the PricewaterhouseCoopers audit engagement partner and have
assessed Kodak as a high-risk client. Explain the modification you would make
to the audit engagement procedures to minimize any potential liability of the
firm.
Create
an argument to the Kodak shareholders that, despite the long relationship between
Kodak and PricewaterhouseCoopers, the public accounting firm maintains its
professional independence.
In
audits of high-risk clients, determine which requirements in the AICPA’s Code
of Professional conduct are most likely to be breached by the auditors. Provide
your rationale.
Analyze
the risk of financial fraud at Kodak and how it is most likely to be committed.
Based on
your analysis of the financial fraud risk areas, discuss the internal controls
that should be implemented.
Given
Kodak filing for bankruptcy, discuss the fiduciary responsibility of the audit
committee and board of directors.
Use at
least four (4) quality resources in this assignment.
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