The audit team is preparing to audit a new client in the toy retail industry. The client
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The audit team is preparing to audit a new client in the toy retail industry. The client imports items from manufacturers in several Asian countries and retails them in a chain of shops located throughout the country. You have access to the following information for the client:
• prior period financial reports
• anticipated results for the current year
• industry averages.
Required
Explain how you would use the information to understand your new client.
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Related Book For
Auditing A Practical Approach
ISBN: 9780730364573
3rd Edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
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