SUBJECT: Auditing and Assurance: Specialized Industries

Assessment 1: For 20 Points 1. State the nature and background of the specialized industry. 2. What are the relevant statistics, and updates of the specialized industry in the Philippine setting? 3. Identify the different audit and accounting considerations and trends for the industry. 4. Look for at least 2-3 audited financial statements of companies under the specialized industry in the Philippines and list down your observations from audit report to the financial statements.