What is in Urban Outfitters’ auditor’s report?

Urban Outfitters, Inc., is a specialty retailer, offering a wide selection of clothing, accessories, and other items. The Fiscal Year 2013 Annual Report for Urban Outfitters, Inc., can be found here.  Page F-2 (page 54 in the pdf document) of that annual report contains the “Report of Independent Registered Public Accounting Firm,” or the auditor’s report. This report consists of four paragraphs.  That page is replicated here.

urban-outfitters

Questions

1)      What is the name of the accounting firm that audited Urban Outfitters, Inc.?

2)      What is the date of the audit report?

3)      To whom is the audit report addressed?

4)      What type of opinion did the accounting firm issue for Urban Outfitters (standard unqualified opinion, qualified opinion, adverse opinion, or disclaimer of opinion)? How do you know?

5)      What standards were used to conduct the audit?

6)      What is Urban Outfitters’ fiscal year end?

7)      What financial statements were audited?

Instructor Resources

These resources are provided to give the instructor flexibility for use of Accounting in the Headlines articles in the classroom. The blog posting itself can be assigned via a link to this site OR by distributing the student handout below. †Alternatively, the PowerPoint file below contains a bullet point overview of the article and the discussion questions. †The YouTube video link below is a narration of the blog post article (no discussion questions are included in the YouTube video; those can be assigned separately.)

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.

About Dr. Wendy Tietz, CPA, CMA, CGMA

Dr. Wendy Tietz is a professor of accounting at Kent State University in Kent, Ohio, USA. She is also a textbook author with Pearson Prentice-Hall.

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