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Question One An investor is considering investing in one of two companies. The companies hav reported financial position financial statements audited. e very similar and

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Question One An investor is considering investing in one of two companies. The companies hav reported financial position financial statements audited. e very similar and results of operations. However, only one of the companies has its Describe what creates the demand for an audit in this situation. Include a discussion of how audited financial statements facilitate this i business risk and information risk. (2 marks) b. Id a. nvestment transaction, and the effect of the audit orn entify the potential consequences to the company of not having its financial statements audited. (4 marks) c. ldentify the differences between CPA auditor and internal auditor, including their position and functions. (4 marks)

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