First of all, Loblaws is a huge company, there needs to be more to study in the company to give a proper financial statement audit. As a larger company, there are many risks in their process of business and in all areas. There are some of the inherent risks in the the company as found in the results; company fail to tilt the consumers from competitors and new entrants, also company fail to execute the e-commerce or digital advances in the business, the supply chain also fail to maintain and there needs to be changed in laws, rules, and regulations, policies that suitable for company business (Loblaw Company Limited, 2020).

As all the risks states above, that company should focus on each and every process of business, because risks are from all sections like employees, strategies of business, supply chain, etc. I mainly noticed that company didnt put much effort on their IT system, which is more important for current business with more competition. The business needs to be updated whenever they need to. In my opinion as a class, we cannot accept the financial statement audit because the company size larger and when we take a decision making as a new audit team the business could be more risk.

Reply to this post.

plz use more original content. plz use your own thoughts/ opinions. And for external source include quotes. 200 words