Choose an industry to research. Industries would include discount retail, casinos, manufacturing, hotels, airlines, cable, etc. You will gather information on the following: Industry-specific audit risk concerns Begin by researching the following: Business strategies Key competitors Industry trends Economic risks Regulatory risks Key business processes Whether sustainability reporting (ESG) is standard for companies in the industry Financial resources and availability (cash flows from operations, debt, equity) Major risks - both general economic and industry specific Key internal controls based on risk analysis (what accounts/transactions cycles would be most critical) Implications of the major risks for the conduct of the audit