Internal auditors perform risk- based audits that go beyond the risks of the financial statements. Assume you

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Internal auditors perform risk- based audits that go beyond the risks of the financial statements. Assume you are on the internal audit staff of McDonald’s.

Required:

a. Identify the risks in the fast- food industry associated with

1. Competition.

2. Customer preference.

3. The economy.

4. Technology.

5. Regulation.

6. Other risks.

b. Explain how each of the risks you identified could affect McDonald’s.

c. Explain how these risks might affect the internal audits performed by the internal audit staff for McDonald’s.

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Auditing and Assurance Services

ISBN: 978-0077862343

6th edition

Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws

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Question Posted: Oct 27, 2014 06:08 AM

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Internal auditors perform risk- based audits that go beyond the risks of the financial statements. Assume you

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Risk part a 1 2 3 convenience foods Competition not only the risk of direct competition such as Burger King and Wendys exists but also of other fastfood chains such as Subway and Taco Bell other resta...View the full answer

Auditing and Assurance Services

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