Answer To: Annual Report Analysis Your annual report analysis is due at the end of Week 6. Obtain an annual...
Robert answered on Dec 20 2021
Introduction
Staples Inc. is one of the largest office supply chain store with a network of around 2,000 stores
around the globe. Stores of Staples Inc. are located in 26 countries and the headquarters are
located in United States. It is engaged in selling supplies, office machines, promotional products,
and furniture, technology and business services. The goods are available in stores and online
shopping can also be done. The analysis is done for the financial year ended on January 28,
2012.
1. Who are the firm’s auditors? Do they provide a clean opinion on the financial
statements?
The auditors of Staples Inc. are Ernst & Young LLP. The auditors provided unqualified
opinion on the financial statements of staples Inc.
2. Have there been any subsequent events, errors and irregularities, illegal acts, or related-
party transactions that have a material effect on the financial statements?
As per the auditor’s opinion, Staples Inc., maintained in all material respects, effective
internal control over financial reporting. There was no subsequent event, errors and
irregularities, illegal acts or related party transactions that could have a material effect on
the financial statements or on auditor’s opinion in audit report.
3. Describe the trend in total assets and total liabilities for the years presented.
From 2008 to 2011, the total assets showed upward trend i.e....