Background You are an audit manager for the public accounting firm, Audit Firm LLP. You have been assigned to your firm's new audit client, Friend2Friend, Inc. (F2F)'. Audit Firm LLP has been engaged to perform an integrated audit for F2F for the year-ended December 31, 2020. F2F is a public company that provides a platform for users to connect and share information with friends across the globe. Its market capitalization is approximately $12.6 billion. F2F started its business six years ago and has grown its user base exponentially since its first year in operations and also went public two years ago. F2F has developed its own proprietary software to deliver its platform to its users. F2F allows for users to create friendship "circles" or groups that can connect and share personal updates, photographs, and other information. Users can create various "circles" within their contact listing and share information with their individual "circles of friends" or contacts for a more personalized experience. Currently, F2F operates in the Services-Computer Programming, Data Processing, Etc., or Standard Industry Classification (SIC) 7370 of the Securities and Exchange Commission (SEC). Its competitors primarily are those companies included in SIC 7370 industry classification. The industry is heavily reliant on innovation, technology, and acquiring users. Technology disruptions and loss of users could negatively impact the business of those in the industry. The primary