How the entity addresses industry

Reference no: EM132670148

Problem 1: Consider how the entity addresses industry, regulator, and other external factors that affect it, and consider the effects of implementing a strategy, including any effects that will lead to new accounting requirements.

a. Document your understanding of your client's objectives, strategies, and business risks:

b. Document procedures performed to update your understanding: Enter text

c. Document changes to your understanding in the current period:

d. Document all risks identified at the assertion level in the risk assessment worksheet.

e. Determine whether any of the risks identified are significant risks, one or more of which arises on most audits.

Reference no: EM132670148

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