What auditing standards are used by the external auditors, Accounting Basics

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What auditing standards are used by the external auditors

Discussion:

General Mills

https://www.generalmills.com

Meiji Holdings Co., Ltd.

https://www.meiji.com/english/corporate/data/group/

Required:

Go to each company's website, review the most recent financial statements for the company, and then answer the following questions.

• What accounting standards are used?

• What auditing standards are used by the external auditors?

• Analyze and comment on the differences in the annual statements found on the companies' websites. Provide a few specific differences in content and format.

• Explain and illustrate the difference between an annual report, a 10-K, and a Corporate Social Responsibility Report. Comment on the type of reports issued by both companies.

• How comparable are these financial statements?

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Accounting Basics: What auditing standards are used by the external auditors

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Accounting Basics: What auditing standards are used by the external auditors

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