Scribd Logo
Upload

Welcome to Scribd!

  • 6

    Uploaded by

    Rahman Fendy
    15 views1 page
    An auditor's background knowledge of a client's industry helps distinguish between obsolete and current inventory. Despite Jennifer Bailey's considerable knowledge of the manufacturing industry from her many years of experience, it is still important for her to assess client business risk. Assessing business risk is beneficial as it allows the auditor to include an analysis of risks in the client risk assessment process.

    Original Description:

    6

    Original Title

    6.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    An auditor's background knowledge of a client's industry helps distinguish between obsolete and current inventory. Despite Jennifer Bailey's considerable knowledge of the manufacturing industry from her many years of experience, it is still important for her to assess client business risk. Assessing business risk is beneficial as it allows the auditor to include an analysis of risks in the client risk assessment process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    15 views1 page

    6

    Uploaded by

    Rahman Fendy
    An auditor's background knowledge of a client's industry helps distinguish between obsolete and current inventory. Despite Jennifer Bailey's considerable knowledge of the manufacturing industry from her many years of experience, it is still important for her to assess client business risk. Assessing business risk is beneficial as it allows the auditor to include an analysis of risks in the client risk assessment process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    An auditor acquires background knowledge of the client’s industry as an aid to his or

    her audit work. How does the acquisition of this knowledge aid the auditor in distinguishing between
    obsolete and current inventory?

    6-8 3 Jennifer Bailey has many clients in the manufacturing business. She has worked in this

    sector for many years and believes that she knows the industry well. Explain why, despite

    her considerable knowledge, it is important for Jennifer to assess client business risk. List

    the benefits to the inclusion of this task as part of the client risk analysis process.

    This study source was downloaded by 100000831978806 from CourseHero.com on 09-25-2022 08:33:40 GMT -05:00

    https://www.coursehero.com/file/77900016/6docx/
    Powered by TCPDF (www.tcpdf.org)

    You might also like