As a CPA, you have received offers to audit new companies. These companies are from your group list; at least you should identify three companies to consider as potential clients. It would be best if you had to understand and analyze the previous year's financial statement (F/S), notes to F/S, predecessor auditor opinion, and some nancial verifications. Each group should consist of three students and each student should be responsible for analyzing one company. To understand a new client, 1. 3. 4. 5. briey describe the business of the selected companies (the type of products or services, location, number of employees, number of shareholders, capitalization, total assets, etc.). Include a table to summarize the main characteristics of the selected companies, illustrate any issues with Risk Factors. Explain why companies need to include Risk Factors in their reporting, identify the type of the last 3-year predecessor auditor's opinion, any deviation from unqualified opinion, explain any issues you might find regarding "going-concem" or financial difficulties, and consider any issues regarding Internal Controls (material weaknesses or significant weaknesses). Discuss all requirements by giving examples of the company's financial reporting (lo-K), including the lU-K pages (from where you obtained the information}. Include Table 1 as an appendix in your draft