You have recently graduted with your university degree and have been offer a job as a trainee auditor at Best & Lesss ltd . Richard Chow is one of the audit partners of Best & Less . A potential new client comes into the office and would like your company to perform the audit for the financial year. Richard has requested that you make a presentation to other partners in terms of assessing the client, accepting the client and evaluating the risk assessment process by referring to relevant auditing standards and the requirement of the corporation act. You are also required to write a brief report 300 words to your partners on what research you undertook in order to complete your task.