Option #1: Business Risk and Audit Planning Reporting
Assume you were just assigned as lead auditor for a new e-commerce client. This is your client’s first year in business. Identify general business strategies that might explain your client’s decision to enter the e-commerce space with the likes of giants such as Amazon. Considering these strategies, identify potential business risks that can lead to material misstatements in your client’s financial statements. Be sure to include new start-up and e-commerce risks. What are some other things your team will need to consider during the planning phase for this audit?
Prepare a paper discussing the results of your planning phase.
Your report should meet the following criteria:
- Be 3 pages in length, not including the title and references pages.
- Demonstrate your comprehension of the course material.
- Use professional business language
- Include 2-3 sources
Review the grading rubric to see how you will be graded for this assignment.