Accounting and Finance Foundations

Unit 13

Accounting and Finance Foundations Unit 13: Auditing 1023

AuditingOpen-Response Unit Assessment

Skill Standards

Academic:

AB 2 Read and interpret workplace documents

AB 6 Demonstrate the ability to write clearly and concisely using industry specific terminology

Accounting:

OE 4 Describe the users and uses of financial information

Financial Services:

OF 4 Understand the importance of audits and regulations

Scenario

When your best friend Jaden started college four years ago, his wealthy uncle promised to give him $5,000

to invest in stocks if he finished college and earned a degree. Now, fast forward to today—Jaden’s gradu-

ation day. After receiving his diploma, his uncle gave him a check for the $5,000, along with an investment

tip: Put your money in Microsoft. Since you know a lot about accounting and finance, Jaden contacted you

for help.

Tasks

A. While reviewing Microsoft’s investor relations web site, Jaden ran across the company’s 2011

auditor’s report, prepared by Deloitte and Touche LLP. He’s pretty sure that the report contains

valuable information that he should know before investing in Microsoft, but he needs your help in

making sense of it. Read the 2011 auditor’s report for the Microsoft Corporation on the next page.

S/T Guide

Employability:

EG 4 Locate and verify information

Accounting:

OD 4 Compare and c