Auditing and Assurance Services 1st Edition by Iris Stuart

تمرين 14

ThyssenKrupp
ThyssenKrupp issued the following footnote in the interim financial statements for the first quarter ending December 31, 2007:
On the basis of the authorization granted by the Annual Stockholders' Meeting on January 18, 2008, the Executive Board of ThyssenKrupp AG resolved on January 31, 2008 to purchase up to around 15.8 million treasury shares before the authorization expires on July 17, 2009. This represents around 3% of the capital stock.
a. Is this a type I or type II subsequent event Explain your answer.
b. Were the financial statements changed to reflect this decision
c. Why was this information disclosed Why would outsiders be concerned about the purchase of treasury stock