Audit Risk Analysis Project - Nike, Inc. - Running head NIKE INC Nike Inc Morgan D York Liberty University Audit Risk Analysis Nike Inc Description Nike

Audit Risk Analysis Project - Nike, Inc. - Running head...

  • Liberty University
  • ACCT 622
  • KidHackerQuetzal4035
  • 7
  • 99% (68) 67 out of 68 people found this document helpful

This preview shows page 1 - 4 out of 7 pages.

Running head: NIKE, INC.Nike, Inc.Morgan D. YorkLiberty University
Background image
Audit Risk Analysis: Nike, Inc.2DescriptionNike, Inc., incorporated on September 8, 1969, is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. They operate in segments including North America, Western Europe, Central and Eastern Europe, Greater China, Japan and Emerging Markets. Nike’s portfolio brand includes the Nike Brand, Jordan Brand, Hurley and Converse selling their products to retail accounts whether online or through their retail stores. As of May 2016, Nike has focused their brand product offerings in nine categories. These categories include running, Nike basketball, the Jordan brand, Football (soccer), men’s training, action sports, sportswear, and golf. While Nike, Inc. continues to be successful they are constantly competing with Adidas, Asics, Li Ning, Lululemon Athletica, Puma, V.F. Corporation and Under Armour. Client AcceptanceBased on the audit risk analysis below, I would recommend that we accept Nike, Inc. as an audit client.HistoryIn 1964, Phil Knight and Bill Bowerman founded Blue Ribbon Sports, officially known as Nike Inc. in 1971 after the Greek goddess of victory. The now iconic Swoosh logo was inspired by the wings of the Goddess of Victory and was first used by Nike on June 18, 1971. Today both the Swoosh logo and their slogan “Just Do It” are among the world’s greatest and most recognizable trademarks known to man. In 1980 two million shares of Nike stock went public causing their sales and popularity to increase exponentially.
Background image
Audit Risk Analysis: Nike, Inc.3In 1985, the company decided to do some restructuring by hiring professional athletes to represent their brand name. One way they did this was hiring the best NBA player of all time Michael Jordan. Jordan took Nike’s brand name to an entirely new level with the development of Air Jordan, now known for its vast variety of basketball shoes and athletic clothing. After the addition of Michael Jordan to the Nike family, Nike decided to expand their brand name into several new lines of products including casual apparel for women, Street Socks, golf shoes and tennis gear advertised under Wimbledon. These additions to Nike caused a boost in sales to one billion dollars to occur for the first time since the company started in 1964.
Background image
Image of page 4

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture