Term Project 1

Audit Project

Part One:

A. Industry:

ARK RESTAURANTS CORP for Food Industry.

B. Primary Products:

The Company owned and/or operated 22 restaurants, 19 fast food concepts and

catering operations through subsidiaries.

C. Raw Materials:

poultry, meat, fish and dairy commodities that are used in restaurants operations.

D. Largeness of the company:

Data from 2015 10-K Form

Sales: (Total revenue: 145,863 million dollars.)

Operating Income: (8,941 million dollars.)

Assets: (66,567 million dollars.)

Employees at December 22, 2015, are 2,028 persons (including employees at

managed facilities), 1,311 of whom were full-time employees, and 717 of whom

were part-time employees; 48 of whom were headquarters personnel, 134 of

whom were restaurant management personnel, 1,297 of whom were kitchen

personnel and 549 of whom were restaurant service personnel.

E. Location:

Headquarter New York, USA

F. People closely related to the company:

The restaurants operated by Ark Restaurants Corp:

Crab House, Inc.

kiosk in Bryant Park.

Shuckers Inc.

G. Information from the form 10 - K

Item 1 – A includes the risk factors with statement (RISKS RELATED TO OUR

BUSINESS)

This information can help the auditor to know If the company have anything that

could go wrong, like external effects, possible future failures to meet

obligations, and other risks disclosed to adequately warn investors and

potential investors.

Part two:

A. The key economic factors about the industry:

One of the most important factors that influence ARK RESTAURANTS CORP

company. Intense competition in the restaurant industry could prevent them

from increasing or sustaining their revenues and profitability.

B. The company in its life cycle:

The company is a New York corporation formed in 1983. As of the fiscal year

ended October 3, 2015, They owned and/or operated 22 restaurants, 19 fast

food concepts and catering operations through there subsidiaries.

C. The factors for success in...