Team Instructions: Divide the class into teams of three or four people.Each team member should work the following problem separately outside of class.Then give the students time in class to compare answers with their teammates and put together a final correct copy of the problem.Each team should turn in only one copy of the problem for grading,along with a copy of the annual report that it used.All team members will receive the same grade.
Provide students with copies of real merchandising companies' annual reports,or give students the Web addresses of real merchandising companies and ask them to print out and submit the annual reports.All team members should work with the same company's annual report.
Answer the following questions using the annual report assigned to your team:
1.What is the name of your company?
2.Find management's report on internal control over financial reporting.What page is it on?
3.Who does it say is responsible for establishing and maintaining an adequate internal control system?
4.Does management say that the company's internal controls are effective? If your answer is "No," briefly describe the deficiencies.
5.Has management's report on internal control over financial reporting been audited?
6.Who signed management's report on internal control over financial reporting? What are their positions in the company?
7.Find the company's auditors' report(s).(There might be two separate reports,or they might be combined into a single report)What page(s)are they on?
8.To whom is the auditors' report addressed?
9.What are the names of the specific financial statements that the auditors have examined?
10.According to the auditors' report,the audit was conducted in accordance with standards set by whom?
11.Do the auditors say that the financial statements are perfect?
12.Does the auditors' report mention the management report on internal control?
13.Find a list of the members of your company's board of directors.What page is it on?
14.How many people are on the board of directors?
15.How many of the people on the board do NOT work for the company?

Question

Team Instructions: Divide the class into teams of three or four people.Each team member should work the following problem separately outside of class.Then give the students time in class to compare answers with their teammates and put together a final correct copy of the problem.Each team should turn in only one copy of the problem for grading,along with a copy of the annual report that it used.All team members will receive the same grade.
Provide students with copies of real merchandising companies' annual reports,or give students the Web addresses of real merchandising companies and ask them to print out and submit the annual reports.All team members should work with the same company's annual report.
Answer the following questions using the annual report assigned to your team:
1.What is the name of your company?
2.Find management's report on internal control over financial reporting.What page is it on?
3.Who does it say is responsible for establishing and maintaining an adequate internal control system?
4.Does management say that the company's internal controls are effective? If your answer is "No," briefly describe the deficiencies.
5.Has management's report on internal control over financial reporting been audited?
6.Who signed management's report on internal control over financial reporting? What are their positions in the company?
  7.Find the company's auditors' report(s).(There might be two separate reports,or they might be combined into a single report)What page(s)are they on?
8.To whom is the auditors' report addressed?
9.What are the names of the specific financial statements that the auditors have examined?
  10.According to the auditors' report,the audit was conducted in accordance with standards set by whom?
11.Do the auditors say that the financial statements are perfect?
12.Does the auditors' report mention the management report on internal control?
13.Find a list of the members of your company's board of directors.What page is it on?
14.How many people are on the board of directors?
15.How many of the people on the board do NOT work for the company?

Team Instructions: Divide the Class into Teams of Three or Four