When an auditor accepts an audit engagement but does not possess the industry expertise of the business entity involved, the auditor should:

Question $4$Answer

a$.$

Engage financial experts familiar with the nature of the business entity.

b$.$

Obtain a knowledge of matters that relate to the nature of the entity's business.

c$.$

Refer a substantial portion of the audit to another CPA who will act as the principal auditor.

d$.$

First inform management that an unqualified opinion cannot be issued.