Obtain a copy of a recent annual report of a publicly held company with stock ac

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Obtain a copy of a recent annual report of a publicly held company withstock actively traded on the New York, NASDAQ or other over-the-counterexchanges.Company: AMAZON.COM.INCPart 1: Company and its industrya. What notable accounting considerations are there for companies inthis industry?b. What legal or regulatory matters are of concern?c. What social matters are of concern?Part 2: Perform financial analysis and prepare a broad audit plan1. Analyze the company’s financial strength:a. Assess the financial strength of the company?b. How is the financial strength likely to change in the next year or so?c. What are its sources of capital and what is the value of thecompany’s capital?d. How have capital markets responded to the company in the lastyear?e. What is the quality of earnings?f. How does the company compare with others in the industry?2. Prepare a broad audit plan:a. What material types of transactions and transaction cycles areinvolved?b. What are the high-risk areas?c. What are the low-risk areas?d. If management faced tremendous pressure regarding the entity’sfinancial performance, what opportunities might exist for them toengage in fraudulent financial reporting?e. To what extent do you believe it will be appropriate to reduceassessed control risk?f. How will audit effort be allocated among geographical areas?g. What form of auditors’ report do you expect will be issued; whatdoes it mean?