Consult Paragraphs 5-8 of PCAOB Auditing Standard No.8 and Paragraphs 7-10 of PCAOB Auditing Standard No. 12.Based

Question:

Consult Paragraphs 5-8 of PCAOB Auditing Standard No.8 and Paragraphs 7-10 of PCAOB Auditing Standard No. 12.Based on your understanding of inherent risk assessment and the case information; identify three specific factors about Qwest’s business model that might cause you to elevate inherent risk if you were conducting an audit of internal control over financial reporting at Qwest.