Please help with this assignment question. I only need help for part 2. The firs
ID: 2331386 • Letter: P
Question
Please help with this assignment question. I only need help for part 2. The first part was on Wal-Mart Company.
Choose a publicly traded company, and research its annual report. (If you cannot find it online, you can go to the U.S. securities and Exchange Commission Web site and locate a copy). These results have been audited, but for this exercise, view them as if they were not.
Part I
Deliverable Length: 1,000–1,200 words
Read the annual report and other news items related to the company, and then complete the following tasks.
Create a framework for your audit procedure using the Audit Risk Approach. Your framework should include the following:
At least 3 examples of how you would mitigate risk in your audit
At least 3 accounts or areas that you would focus your attention on for this audit
An outline of tests and procedures that you would employ based on your company
A detailed analysis of the sampling techniques that you would utilize for each of the 3 accounts or areas that you chose
An explanation of the type(s) of documentation that you would require as audit evidence
Discuss the levels of assurance that can be provided on audit reports.
Explain how the internal controls of a company can impact the overall business.
Define 2 internal control areas that you would focus on with your business
Part II
Deliverable Length: 800–1,000 words
Prepare an audit report for your company. Be sure to include the key elements that must be covered in a standard audit report, and discuss the circumstances surrounding each of the following:
Explain the process that you will utilize to formulate your audit opinion.
Discuss the methodology that you would employ if misstatements are discovered.
Explain the common ethical issues that you could encounter during an audit.
Explanation / Answer
Corporate Social Responsibility (CSR) is the initiatives that are taken by companies for the environmental and social well being. The companies contribute to the sustainable development of the economy. They provide economic, social and environmental benefits to all the stakeholders of the company. CSR portrays a company’s sense of responsibility towards the development of the community and the environment.
Corporate Social Responsibility is pertinent to the new business because of the benefits listed below:
A new company might want to contribute to the society’s well being by emphasizing on clean environment (pollution free, noise-free environment) which most of the United States citizens prefer. This way the new company would attract the attention of all the people to create brand awareness. Thus, CSR should align with the business values and propositions and meet the expectations of the society for community development.