Comparison of Kuwait Food Company Americana and McDonalds on the basis of Audit Report formulation
Auditing is essential in the current business scenario and it is compulsory under legal framework of the financial standards. Audit is basically involve the evaluation of the financial statements, reports and relevant documents with the goals of examining as either the company is displaying fair view of the financial position of the business to the shareholder or not. Different companies around the world adopt different standards and presentation structure for presenting their audit reports and our final report is also based on examining the audit reports of two different companies from two different states. We select one American company listed on USA 100 Index that is McDonalds and one Kuwaiti company listed on Kuwait stock exchange that is Kuwait Food Company Americana for the analysis goal. In this report we evaluate the audit reports of the selected corporations and then identify as how the audit reports of the two different countries are similar or in contrast to one another. In the next sections of the report we include different parts such as company profile analysis for both companies, way of preparing and presenting the audit reports, similarities and differences in the audit reports and the conclusion and opinion.(continued...)wordcount of report: 3000 words
Introduction:
McDonalds:
Kuwait Food Company Americana:
How McDonalds Corporation Prepare its Audit Report: (American Company)
How the Kuwait Food Company Americana prepare the audit report: (Kuwaiti Company)
Methodology selected for analysis:
Similarities between the Audit Report of American Corporation and Kuwaiti Corporation:
Distinctions Analysis:
Goal of Audit:
IFRS and GAAP Basis:
Heads and level of Clarity of Audit Reporting:
Sequence of flow:
Audit Firms:
Opinion:
Conclusion:
Recommendations:
References:
McDonalds:
Kuwait Food Company Americana:
How McDonalds Corporation Prepare its Audit Report: (American Company)
How the Kuwait Food Company Americana prepare the audit report: (Kuwaiti Company)
Methodology selected for analysis:
Similarities between the Audit Report of American Corporation and Kuwaiti Corporation:
Distinctions Analysis:
Goal of Audit:
IFRS and GAAP Basis:
Heads and level of Clarity of Audit Reporting:
Sequence of flow:
Audit Firms:
Opinion:
Conclusion:
Recommendations:
References:
