You are auditing Telezee Limited, a major company in the telecommunications industry in New Zealand. Explain one audit implication for each of the following five issues that you discover during your review of business risk and strategy:

a. The revenue of the industry is growing overall, but there are changes. For example, revenue from broadband and mobile phones is growing, whereas revenue from landlines and toll calls is not.

b. At present the industry is not heavily regulated, but there is a possibility in future of stronger regulation that could control prices.

c. Competitors are expanding. For example there are rival cell phone companies operating, and alternative services such as phone cards.

d. The industry is affected by new technologies in areas such as cell phone transmission and computer systems.

e. The company has now decided to start using external contractors to provide maintenance services rather than employ its own maintenance staff.