Question

Using the Walmart 2019 Annual Report...

1. What is the name of the outside auditing firm (independent registered public accounting firm)? What office of this firm signed the audit report? How long after the year-end did the auditor's issue their opinion?

2. Who bears primary responsibility for maintaining effective internal control over the financial reporting? How can you tell?
   

3. Does it appear that the company's internal controls are adequate? How can you tell?
   

4. What standard of auditing did the outside auditors use in examining the financial statements?
   

THANK YOU!!!

Answer 1

1. The name of the outside auditing firm is Ernst & Young LLP.

They have served the company since 1969.

2. The office situated at Rogers, Arkansas in United States have signed the audit reports.

3. The audit report was signed on March 28, 2019 which is almost 2 months from the year ending 31 January 2019.

4. In the auditor report the basis of opinion paragraph specifically includes that the responsibility of maintaining the effectiveness of internal controls lies with the management of Walmart Inc.

This stated para is "The Company’s management is responsible for maintaining effective internal control over financial reporting and for its
assessment of the effectiveness of internal control over financial reporting included in the accompanying Report on Internal
Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial
reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent
with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the
Securities and Exchange Commission and the PCAOB."

5. The auditor had given an unqualified opinion on the internal controls i.e; the management have maintained it well in accordance with the standards. So yes the company's internal controls are adequate.

This line was stated in the opinion para ". In our opinion, Walmart Inc. (the Company) maintained, in all material respects,
effective internal control over financial reporting as of January 31, 2019, based on the COSO criteria."

6.

The auditor have audited the financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States)
(PCAOB).

I have used the para of the annual report just for reference purposes.

Hope it helps you.

All the best ?