Review of Financial Statements Paper - Essay Example

Review of Financial ments Paper Accounting Organization of Teva Pharmaceuticals Industries Limited Kesselman & Kesselman is the accounting organization which is responsible for auditing the financial statements of Teva Pharmaceuticals (Kesselman & Kesselman, 2011). It is a member of the PriceWaterhouseCoopers Israel. Kesselman & Kesselman is the oldest and the largest firm dealing with accounting activities in Israel. The clientele of the organization are the firms operating in more or less every industry and services sectors, possessing the nature of both public as well as private enterprises (BioJerusalem, 2011).

Kesselman & Kesselman is responsible for auditing Teva Pharmaceuticals’ consolidated balance sheets including its subsidiaries and various other consolidated statements such as those of income statements, equity changes and cash flows. Kesselman & Kesselman is accountable for articulating their views upon the financial statements which are considered as the prime responsibility of the Management and Board of Directors of the company (Kesselman & Kesselman, 2011). Accounting Organization of Watson Pharmaceuticals, IncThe management of Watson Pharmaceuticals is primarily responsible for the preparation of financial reporting inclusive of the structure of internal controls and formation of various consolidated statements of accounts.

The financial statements are prepared according to the Generally Accepted Accounting Principles. The financial statements are audited by the company’s independent registered firm for public accounting, i.e. PriceWaterhouseCoopers. The responsibility of this audit firm is to express its opinion regarding the accountability of the financial statements of the company as per the standards (Watson Pharmaceuticals Inc (WPI), 2011). PriceWaterhouseCoopers is one of the well-known firms related to accounting and auditing throughout the world.

It also provides with effective and competitive planning services aimed at the betterment of the organizational operations (BioJerusalem, 2011). References BioJerusalem. (2011). PriceWaterhouseCoopers Israel - Kesselman & Kesselman. Retrieved from http://www.biojerusalem.org.il/database_provider.asp?ID=12Kesselman & Kesselman. (2011). Report of Independent Registered Public Accounting Firm. Retrieved from http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=7731562-542814-549604&SessionID=ADoWHCg1k6TEkA7Watson Pharmaceuticals Inc (WPI). (2011). Annual Report Pursuant To Section 13 And 15(d).

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