Question: Prepare a broad audit plan for Netflix, Inc. What material types of transactions and transaction cycles are involved? What are the high-risk areas? Would you

Prepare a broad audit plan for Netflix, 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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