The Report of Independent Registered Public Accounting Firm for Krispy Kreme Doughnuts, Inc. appears on page 83 in the 2014 Annual report. After the independent CPA firm performs an audit a sample of the transactions and internal controls that support preparation of the financial statements the audit report will express an opinion. An unqualified opinion was expressed for the 2014 Krispy Kreme Doughnuts, Inc. consolidated financial statements.
The following are the types of audit opinions that may be expressed; unqualified, qualified, adverse, and disclaimer of opinion. The unqualified opinion is the best opinion for the corporation to achieve. "The unqualified opinion states that the financial statements present fairly in all material respects the financial position, results of operations, and statements of cash flows in conformity with generally accepted accounting principles" (Public Accounting Oversight Board, 2015).
Page 5 of the cited source below provides definitions for the qualified and other opinions mentioned above.
The Public Company Accounting Oversight Board is a nonprofit organization by the Sarbanes- Oxley Act to oversee audits and protect the interests of investors and the public.
After the Enron, WorldCom, and other corporate scandals, the Sarbanes-Oxley Act of 2002 was signed on July 30, 2002 by President W. Bush. Enron and other companies were forced to declare bankruptcy and massive accounting irregularities were discovered. The Act addresses corporate responsibility, the reporting of internal controls, auditor independence, and regulation of auditors.
Class - Any ideas why the accounting irregularities at Enron were not disclosed by the external audit firm, Arthur Anderson? Do you think that your current or former employer organization has implemented the procedures and controls to comply with the Act? Remember to include an explanation to support your response.
Please read INSTRUCTORS instructions carefully and completely
Due date 4/27/15 in 4 hours
No plagiarism in own words
Will run through a plagiarism checker
Will not accept if after due date will dispute
References page must include a valid URL to take the reader to the electronic copy of each source.
If cannot complete with the given instructions do not reply
Please contact me if you have questions
Write as a discussion with another student
Make a question out of the response, or I found the material interesting, or what do you think
I may ask to change some areas at later date
100 to 200 word count
Word count is counted by answer only
Please write with question first followed by answer
Please write clearly simplify
I am in the U.S.
No charts or graphs
Midas
Read the “Midas” case study in Chapter 2 of your text and respond to the guided response below in a three- to four-page paper in accordance with APA guidelines as outlined in the Ashford Writing Center.. In this paper you must:
a. Discuss the anticipated impacts (both positive and negative) upon operating efficiencies, and recommend solutions to minimize the negative impacts.
b. Discuss whether or not operating practices should be changed to accommodate the tune-ups. Be sure to explain your reasoning.
c. Examine the reasons why input should be gathered from the shop owners.
d. Discuss the type of input that should be gathered.
e. Describe the processes and steps needed to launch this new program
Your paper should be in paragraph form (avoid the use of bullet points) and supported with the concepts outlined in your text and additional scholarly sources
Submit your three- to four-page paper (not including the title and reference pages). Your paper must be formatted according to APA style as outlined in the Ashford Writing Center and must cite at least three scholarly sources in addition to the textbook.
