Question: TESLA Based on the background research and analytical procedures performed in Stages a - c , summarize your observations about the companys business, including your

TESLA

Based on the background research and analytical procedures performed in Stages a

-

,

summarize your observations about the companys business, including your assessment of the clients business risk. Prepare a broad audit plan: a

.

Which transaction cycles are the high

-

risk areas? b

.

Identify at least three risk areas in the audit of this company and describe:

(1)

the risk;

(2)

why you have assessed this as a specific risk; and

(3)

how you would perform the audit to address this risk. c

.

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

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