Auditors need to have a solid understanding of a client’s business and operating environment. With what kinds of things [types of information, characteristics of industry, etc.] should the auditor become familiar? Include in your discussion how the model of business introduced in chapter 2 could play a role.

Answer rating: 100% (QA)

The auditor should have good knowledge of the organization for which he has been appointed as the auditor He must have first hand information about th... View the full answer