chapter 7 auditing

11. What is one of its inherent risks at the financial statement level, disclosed by Pfizer. 1. The company has been less profitable in recent years compared to its competitors. CII. The company is subject to expropriation of its operating assets in certain foreign countries. cm. In the US, many of our biopharmaceutical products are subject to increasing price pressures. civ. Our biopharmaceutical products may cause users to experience severe health reactions up to an including death 12. Assessing management integrity is critical to the auditor's assessment of inherent risk TRUE/FALSE