Audit Risk Ann Inc.
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|Ann Inc.: Audit Risk Analysis |
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|Liberty University |
|Audit Risk Analysis Project |
|Acct 622 |
|Professor John Kuhn |
Decision to accept or decline Ann Inc. as an Audit Client For the reasons given below, I recommend that we accept Ann Inc. as an audit client. Ann Inc. has for many decades risen in stakeholders and customer satisfaction. The company name has grown in notoriety as has its stock. Ann Inc. employs approximately forty-five hundred employees in forty-seven states, four countries and online sales sites. The corporation leases 5.7 million square footage of property for their 980 plus stores. Ann Inc. has contracted with their current audit firm for the past fourteen years; Deloitte & Touche LLP. The corporation has a stable standing with the community for the past
|Ann Inc.: Audit Risk Analysis |
| |
| |
| |
|Liberty University |
|Audit Risk Analysis Project |
|Acct 622 |
|Professor John Kuhn |
Decision to accept or decline Ann Inc. as an Audit Client For the reasons given below, I recommend that we accept Ann Inc. as an audit client. Ann Inc. has for many decades risen in stakeholders and customer satisfaction. The company name has grown in notoriety as has its stock. Ann Inc. employs approximately forty-five hundred employees in forty-seven states, four countries and online sales sites. The corporation leases 5.7 million square footage of property for their 980 plus stores. Ann Inc. has contracted with their current audit firm for the past fourteen years; Deloitte & Touche LLP. The corporation has a stable standing with the community for the past
References: AICPA Audit and Accounting Practice Aid Series: Establishing and Maintaining a System of Quality Control for a CPA Firm’s Accounting and Auditing Practice. (2007). American Institute of Certified Public Accountants. Retrieved from: http://www.aicpa.org/InterestAreas/GovernmentalAuditQuality/Resources/DownloadableDocuments/System_of_Quality_Control_Practice_Aid.pdf Ann Inc. (2012). ANN Inc. 2012 Annual Report. New York, New York. Retrieved from: http://investor.anninc.com/phoenix.zhtml?c=78167&p=irol-irhome Colbert, J. L., Luehlfing, M. S. & Alderman, C. W. (2009). Auditing—engagement risk. The CPA Journal. Retrieved from: http://www.nysscpa.org/cpajournal/1996/mar96/depts/auditing.htm Curan, C. (Jan 28 2002). New AnnTaylor lead must fashion turnaround. Crain’s New York Business. p 4. Retrieved from: http://catalog.hathitrust.org/Record/002609505 Funding Universe. AnnTaylor stores corporation history. Retrieved from: http://www.fundinguniverse.com/company-histories/anntaylor-stores-corporation-history/ Furman, P. (Mar. 25 1991). Fashionable AnnTaylor to sell stock. Crain’s New York Business. p 3, 34. Retrieved from: http://catalog.hathitrust.org/Record/002609505 Money (2013). Retrieved from: http://investing.money.msn.com/investments/key-ratios?symbol=ANN Prendergast, K. Client acceptance procedures best practices among accounting firms. p 1-4. Retrieved from: https://mail.google.com/mail/u/0/?ui=2&shva=1#inbox/13f8c14979e1d047