ACC 562 Assignment 4 Financial Analysis
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ACC 562 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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