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Determine materiality and assess inherent risk

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Reference no: EM132472523

Problem 1: W&S Partners began the planning phase of the Cloud audit. As part of the risk assessment phase for the new audit, the audit team needs to gain an understanding of Cloud 9's structure and its business environment, determine materiality, and assess inherent risk. This will assist the team in developing an audit strategy and designing the nature, extent, and timing of audit procedures

Reference no: EM132472523

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