Access Costco's most current financial statements, MD&A and SEC filings. Using this information and any additional information you can gather about the industry, economy, and regulatory environment the company operates in complete a Risk Assessment for the company's audit. You should have multiple risks in each area. Risk areas may include competition, economic, industry, regulatory, environment, etc. At a minimum, your risk assessments should include the following: Risk description Estimated impact (low med high) based on materiality Estimated likelihood (low med high) Use an Excel table to present your risk assessment.