I. Develop two audit approach based on how you would audit the 2000 Amazon Financial statements. Both approaches to include the audit of the financial statements as well as the internal controls over financial reporting. The audit approaches to be:

1. Controls Approach

2. Substantive Approach

Your approach must consider the following:

a. Management assertions

b. Financial statement accounts

c. Financial processes

d. Footnotes to the financial statements

II. Develop what we used to call a schedule of schedules which means I want you to tell me what information you will request from the client in order to develop your approach and conduct your audit. This can be best developed by account

III. Develop a list of critical questions you will need to have answered in order to develop your approach and conduct the audit.

IV. Without the benefit of hindsight tell me what the audit opinion should be and give me cogent reasons supporting your opinion.