ACC 499 Week 10 Assignment 3: Capstone Research Project
Assume you are the partner in an accounting firm hired to perform the
audit on a fortune 1000 company. Assume also that the initial public
offering (IPO) of the company was approximately five (5) years ago
and the company is concerned that, in less than five (5) years after the
IPO, a restatement may be necessary. During your initial evaluation of
the client, you discover the following information:
The client is currently undergoing a three (3) year income tax
examination by the Internal Revenue Service (IRS). A significant issue
involved in the IRS audit encompasses inventory wri