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It is important for the auditor to obtain a good understanding of the industry of the client to ...

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It is important for the auditor to obtain a good understanding of the industry of the client to ...

It is important for the auditor to obtain a good understanding of the industry of the client to develop a client risk profile. If the auditor is looking at a client in the fashion clothing industry, a risk specific to the industry would be
A) the high risk of poor governance and management oversight.
B) the high risk of defective products.
C) the high risk of obsolescence of their inventory.
D) the volatility in the stock market with regards to common stock.

Textbook

Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

Read 80 times

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