For the purposes of this assignment, you are to imagine that you work as Audit Manager for a company called Amazing Accountants. Your new audit client is a listed company in Australian Stock Exchange (your choice). The client has asked you to perform their financial report audit for the financial year ended 31 December 2020.

Part 1 Question Research information about your audit client and its industry. Your report will form part of the overall understanding of your audit client's structure and its environment. You should concentrate your research on providing findings from those areas that have a financial reporting impact. In conducting your research, you should consider any FIVE (5) of the following key market forces, as they relate to your audit client's operations. 1. General and industry-specific economic trends and conditions 2. Competitive environment 3. Product information 4. Customer information 5. Supplier information 6. Technological advances and the effect of the internet 7. Laws and regulatory requirements.