HR Block 2013 Annual Report Download - page 16

H&R Block 2013 Form 10-K 9
the SEC at 1-800-SEC-0330. The SEC maintains a website at www.sec.gov containing reports, proxy and information
statements and other information regarding issuers who file electronically with the SEC.
The following corporate governance documents are posted on our website at www.hrblock.com:
The Amended and Restated Articles of Incorporation of H&R Block, Inc.;
The Amended and Restated Bylaws of H&R Block, Inc.;
The H&R Block, Inc. Corporate Governance Guidelines;
The H&R Block, Inc. Code of Business Ethics and Conduct;
The H&R Block, Inc. Board of Directors Independence Standards;
The H&R Block, Inc. Audit Committee Charter;
The H&R Block, Inc. Compensation Committee Charter;
The H&R Block, Inc. Finance Committee Charter; and
The H&R Block, Inc. Governance and Nominating Committee Charter.
If you would like a printed copy of any of these corporate governance documents, please send your request to the
Office of the Secretary, H&R Block, Inc., One H&R Block Way, Kansas City, Missouri 64105.
Information contained on our website does not constitute any part of this report.
ITEM 1A. RISK FACTORS
Our business activities expose us to a variety of risks. Identification, monitoring and management of these risks are
essential to the success of our operations and the financial soundness of H&R Block. Senior management and the Board
of Directors, acting as a whole and through its committees, take an active role in our risk management process and
have delegated certain activities related to the oversight of risk management to the Company's Risk Committee, which
is comprised of senior managers of major businesses and control functions. The Risk Committee is responsible for
identifying and monitoring risk exposures and leading the continued development of our risk management policies and
practices.
An investment in our securities involves risk, including the risk that the value of an investment may decline or that
returns on that investment may fall below expectations. There are a number of significant factors that could cause actual
conditions, events or results to differ materially from those described in forward-looking statements, many of which
are beyond management’s control or its ability to accurately estimate or predict, or that could adversely affect our
financial position, results of operations, cash flows and the value of an investment in our securities.
RISKS RELATING TO CONTINUING OPERATIONS
Increased competition for tax preparation clients could adversely affect our current market share
and profitability. Offers of free tax preparation services could adversely affect our revenues and
profitability.
We provide both assisted and DIY tax preparation services and products and face substantial competition throughout
our businesses. The assisted tax services category in the tax preparation industry is highly competitive. There are a
substantial number of tax return preparation firms and accounting firms offering tax return preparation services. Many
tax return preparation firms and many firms not otherwise in the tax return preparation business are involved in providing
electronic filing and other related services to the public, and certain firms provide RACs and other similar products.
Commercial tax return preparers and electronic filers are highly competitive with regard to price and service. In the
DIY category of the tax preparation industry, options include the use of traditional paper forms and various forms of
digital electronic assistance, including online, mobile and desktop software, all of which we offer. Our digital tax
solutions services and products also compete with in-office tax preparation services and a number of online and software
companies, primarily on the basis of price and functionality. Assisted and DIY competitors offer various tax preparation
services and products at no charge. Intense price competition could result in a reduction of our market share, lower
revenues or lower margins.