Question: Prepare a broad audit plan: (Apple Inc) - What material types of transactions and transaction cycles are involved? - What are the high-risk areas? Would

Prepare a broad audit plan: (Apple Inc)

- What material types of transactions and transaction cycles are involved?

- What are the high-risk areas? Would you consider any of these risks to be significant risks?

- What are the low-risk areas?

- If management faced tremendous pressure regarding the entitys financial performance, what opportunities might exist for them to engage in fraudulent financial reporting?

- To what extent do you believe it will be appropriate to reduce assessed control risk?

- How will audit effort be allocated among geographical areas?

- What form of auditors report do you expect will be issued; what does it mean?

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