1. You have a client who is in the business of trading metal parts. Please list out up to 3 of the key risks which you will identify as part of the planning of the audit.
2. Your client has offered you an iPad as they are a supplier of Apple and are able to get pre-release models of the newest iPad for free. What should you do? Please give a short explanation of your decision.
3. Your client is a supplier of wood to a furniture manufacturer. At the stock take, you noted that there was a leak in the ceiling and water was dripping on the wood, causing some discoloured patches. However, the client said this does not affect the stock value as the manufacturer will be painting the wood. What should you note down in the stock take working paper?