To successfully complete this assignment you will need to search for and analyze the information contained in your assigned public company most recent filingsincluding theirannual report (Form 10-K)...

To successfully complete this assignment you will need to search for and analyze the information contained in your assigned public company most recent filingsincluding theirannual report (Form 10-K) and proxy statement (Form DEF 14A) that are available through the SEC'S WEBSITE Here is the link to it https://www.sec.gov/edgar/searchedgar/companysearch




The financial and proxy information should be from the


most recently filed





Form 10-K (the filing timeframe depends on the companies year end) and Form DEF 14A (usually filed within 3 to 5 months of the 10-K filing). In completing your assignment, please provide the exact source of


the information you cite for each question (see the below guidelines for an example). My assigned case isCarmax Inc (CIK 0001170010)








an external site. The financial and proxy information should be fromthe most recently filed


Form 10-K (the filing timeframe depends on the companies year end) and Form DEF 14A (usually filed within 3 to 5 months of the 10-K filing). In completing your assignment, please provide theexact sourceof the information you cite for each question (see below guidelines for an example). Locate your assigned case here: My assigned case isCarmax Inc (CIK 0001170010)




















Download Student Assignmentshttps://www.sec.gov/edgar/searchedgar/companysearch Then answer the following questions:

1. What does the Form 10-K tell you about the company?








1. Briefly describe the company, its major products/services,and the location of its corporate headquarters.




2. Identify the industry the company operates in, the company’s revenue reporting segments and its major expenses/liabilities.








2. Describe3 risk factorsidentified by the Company and the possible impact on the Company if it does not successfully manage these risks. Think about what you have learned about auditors’ risk assessment process in Chapters 3 & 4 of your text, why do auditors want to know about their clients’ business-related risks?




3. What does the Form DEF 14A tell you about the audit committee? Specifically answer each of the following:








1. What are the audit committees’ main responsibilities and duties?




2. How often did the Audit Committee meet in the designated reporting year?




3. Who is(are) the designated financial expert(s) on the audit committee? Describe the types of qualifications these designated experts have.




4. Does the number of financial expert(s) seem adequate for the complexity of the Company and the requirements of the Sarbanes-Oxley Act? Explain your rationale.








4. What does the Form DEF 14A tell you about the auditor? Specifically answer each of the following:








1. Who is the auditor?




2. What were the fees charged for audit services for each of the last two fiscal years?




3. What were the type and amounts of other fees for services for each of the last two fiscal years?




4. Describe the process used by the Audit Committee to determine the independence of the independent registered public accounting firm.








5. The Sarbanes-Oxley Act of 2002 modified the requirements in the Exchange Act rules such that principal executive officers of publicly traded companies must include certain certifications in the annual report (Form 10-K).Note: These certifications are often listed separately from the 10-K and may have various names including Exhibits 31 and 32 (or 31.1/31.2 and 32.1/32.2), or 302 and 906 certifications.








1. Please describe what each certification is attesting to.




2. Specify the name and title of the executive officer who signed each of the certification reports.




3. Why do you think congress through the Sarbanes-Oxley Act decided to require these certifications? Do you think they are likely effective in their purpose? Why or why not?

The assessment will be based on:

1. Completeness & Clarity - specifically and clearly address
   
   
   allquestions and parts of questions asked in the assignment.




2. Spelling & Grammar - ensure your work is free of errors and is easy for others to understand.




3. Critical Thinking - develop an ability to read information and apply auditing concepts to different scenarios, as well as be able to justify your own judgments and/or opinions.




4. Following Directions - the assignment should betyped, be no longer than 2-pages single-spaced, 12-point font size, Times New Roman font style- assignments not following directions will result in less points. I will not read beyond page 2.Your responses should be numbered consistent with the question numbering above.Do not include the questions as headings for each response, just provide your response. Be sure to include cites in your response and references at the end for ALL information you include that is from an outside source (e.g., the 10-K, our textbook). For questions that ask for your opinion rather than a “researched” answer, you do not need to include a citation. Be sure to cite the exact source of the information in your responses. For example:
   
   
   
   
   1. A.Student answer…(10 K, Item 1, Business).
   
   
   
   
   2. 
      
      
      Student answer…(DEF 14A, p. 7).