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In researching a potential new audit client, you determine that the business operates in a highly competitive industry, with low barriers to entry and very
In researching a potential new audit client, you determine that the business operates in a highly competitive industry, with low barriers to entry and very short product life cycles. What audit planning factors will this information help you to assess?
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Audit risk
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Auditor's risk from taking the engagement.
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Client business risk
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An acceptable level of Information risk.
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