You have been assigned the audit of your city’s largest car dealership. The car dealership has been one of your firm’s audit clients for many years. It is modern and is located in a building owned by the dealership corporation. The company has recently spent almost $100,000 modernizing its vehicle repair bays, with new wiring and lift jacks.
REQUIRED
For each of the five components of understanding the client's business and industry, provide specific examples of the work that you would do to develop your understanding, and how you would document your understanding in the working paper files.