In order to properly audit the financial statements, it is important for the auditor to become familiar with the company being audited, as well as the industry in which it operates. The auditor also needs to consider who the end users of the financial statements will be. Understanding who will use the financial statements, and what information those users will be relying on, helps the auditor to better plan the audit. Identifying the potential risks associated with the financial statements and determining planning materiality are key tasks when planning an audit. Required Prepare a report in Microsoft Word that addresses the following tasks. Your submission should contain: • Cover page. • Introduction. • Conduct research on-line and prepare a report in Microsoft Word that summarizes the current state of the natural gas industry in Canada and the current economic environment facing Canadian pipeline companies. All websites used in your research should be referenced. Remember that ColAlta is not a real company: the purpose is not to try to identify which real-life companies ColAlta is based on, but to gain an understanding of the current environment in which a company like ColAlta operates.