Question: Explain how ratio analysis and industry comparisons can be useful to the auditor in identifying potential risk of material misstatement on an audit engagement. How

Explain how ratio analysis and industry comparisons can be useful to the auditor in identifying potential risk of material misstatement on an audit engagement. How can such analysis also help the auditor plan the audit?

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Explain how ratio analysis and industry comparisons can be useful to the auditor in identifying potential risk on an audit engagement. How can such analysis also help the auditor plan the audit?

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