All of the following describe factors that the auditor should gain an understanding of while in the Risk Assessment Phase EXCEPT\ the nature and history of the entity, including its operations, revenue sources, products, services, markets served, key personnel, locations, ownership structure, business investments underway or planned, key customers, key suppliers and its financing structure.\ detailed testing of internal controls, transactions, account balances, and disclosures the auditors have determined to be at high risk of material misstatement.\ relevant external factors affecting the entity like the general economic conditions, interest rates and the availability of finance.\ the factors at play in the industry sector in which the entity operates, like market size, level of competition, supplier and customer relationships.

All of the following describe factors that the auditor should gain an understanding of while in the Risk Assessment Phase EXCEPT the nature and history of the entity, including its operations, revenue sources, products, services, markets served, key personnel, locations, ownership structure, business investments underway or planned, key customers, key suppliers and its financing structure. detailed testing of internal controls, transactions, account balances, and disclosures the auditors have determined to be at high risk of material misstatement. relevant external factors affecting the entity like the general economic conditions, interest rates and the availability of finance. the factors at play in the industry sector in which the entity operates, like market size, level of competition, supplier and customer relationships