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Please explain Business Risk and Audit Planning in Retail 2. What general business strategies might explain a client's decision to enter the retail industry with

  1. Please explain Business Risk and Audit Planning in Retail

2. What general business strategies might explain a client's decision to enter the retail industry with the likes of giants such as Walmart and Target?

3. Considering these strategies, what potential business risks can lead to material misstatements in a client's financial statements, new start-up, and retail risks?

4. What are some other things the audit team will need to consider during the planning phase for this audit?

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