Step 1-Obtain an Understanding of Your Client and Its Environment To [1.31] [Illustration 1-1] External Factors [4.04] [App B.02] 1. Consider the client's business and other external factors that affect the client's business, such as industry conditions, the regulatory environment, and government policies. a. Document your understanding of your client's business and other external factors that affect the client's business, such as industry conditions, the regulatory environment, and government policies: Enter text