Components of understanding the clients business

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Reference no: EM133380002

Question: You have been assigned the audit of your city's largest engineering company. The construction company has been one of your firm's audit clients for many years. It is modern and is located in a building owned by the corporation. The company has recently spent almost $4M modernizing its offices and construction tooling.

a. List some components of understanding the client's business and industry

b. For each of the components of understanding the client's business and industry, provide specific examples of the work that you would do to develop the understanding

c. Explain how you would document your understanding in the working paper files.

Reference no: EM133380002

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