Question

For the company AMAZON

Are its financial statements audited by independent CPAs? If so, by whom? What type of opinion did the financial report receive?

What are the values in the company’s accounting equation for the most recent year?

Answer 1

Firstly, it is important to define the term Indepent

in the context of auditing Independent means the judgement on financial statements are not influenced by director(s) or any person in authority. i.e., to give an unbaised view on the annual report.

EY serves as independent auditors for Amazon

in the 2017 annual report the audit committe has given the opinion that all the items included gives a true and fair view of the company's (Amazon) financial performance and postion as at 31 Dec 2017.

As per the Company's Annual Report 2017

Net profit               = $ 3,033 ( in millions)

Assets = $ 131,310( in Millions)

Liablities = $ 103,601 ( in Millions)

Owners's Equiy= $ 27,709 9 ( in millions)