Practice Questions, Question 5 Jim Spence is performing a preliminary risk identification for the planning stage of the audit of XYZ Inc. From the following list, select five factors that would be considered in Jim's risk identification of XYZ Inc. Communication with ABC's legal council Performing a background check on executive team Identify going concern risk Identify insignificant classes of transactions Identify related parties Identify customer retention policies Understand the client Identify fraud risk Review the life insurance policies Review corporate governance Click if you would like to Show Work for this question: Open Show Work