Question: Possible answers are (1) accept client and perform intial audit. (2) understand the clients business and industry (3)Perform preliminary analytical procedures (4)Set preliminary judgement about

Possible answers are (1) accept client and perform intial audit. (2)

Possible answers are (1) accept client and perform intial audit.

(2) understand the clients business and industry

(3)Perform preliminary analytical procedures

(4)Set preliminary judgement about materaility and performance materaility

6 Tour the client's plant and offices 7. Specify materiality levels to be used in testing 7. Speciy materiality levels to be used in testing of accounts receivable Compare key ratios for the company to those for industry competitors 8. 9 Review management's risk management controls and procedures Identify potential related parties that may require disclosure 10

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