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Obtain the Annual Report (Form 10K) and Proxy Statement (Form DEF 14A) of the company, Walmart,...

Obtain the Annual Report (Form 10K) and Proxy Statement (Form DEF 14A) of the company, Walmart, for the immediate past fiscal year. Review these documents in addition to Earnings Releases and other financial information available on the company’s Investor Relations website to evaluate the following items.

  • Identify the company’s independent registered public accounting firm.
  • Determine how long this firm has served as the external auditors.
  • Determine other services, if any, provided to or on behalf of the company.
  • Determine fees paid to this firm by type of service provided.
  • Discuss changes in or disagreements with the accountants on accounting and financial disclosures, if any.
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Answer #1

Answer:

1. As per Report of Independent Registered Public Accounting Firm on pg. 48 of annual report, the company's independent registered accounting firm is Ernst and young LLP.

2. The firm is serving as external auditor since 1969 as written on the same pg. 48.

3. As per proposal 3 ratification of independent Accountant in proxy statement pg no. 82, the firm is providing only tax related services apart from audit service.

4. As mentioned on same page 82 of proxy statement the service wise fees are as follows:

Audit fees = $ 26493000

Audit related fees = $855000

Tax fees =$ 753000

All Other fees =$ Nil

5. As per item 9 of annual report (Form 10 k), there is no changes in or disagreements with the accountants on accounting and financial disclosures.

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