J Pia, a relatively new partner for P Icpa, CPAs has recently received a request to provide a bid a bid to perform audit and other services for P Ice Outfitting, a large regional retailing organization with more than 50 stores in the surrounding region. Ice is a fast-growing company specializing in premium outerwear and outdoor sports equipment. It is not publicly traded. J realizes that bringing in new clients to his success in the firm. Ice looks like a good audit that might provide opportunity to sell other services. Consequently, J is thinking about "lowballing" the audit (i.e., bidding very low on audit fees) in an effort to gain a foothold for providing other services to the client.

1. Explain how the auditor could use the SEC filings and industry as well as personal data that may be available on the internet or other data services to gather information about the potential client.