Question
Your firm just accepted a new client in an industry that no one in the office has ever audited.As such, the firm needs to gain
Your firm just accepted a new client in an industry that no one in the office has ever audited.As such, the firm needs to gain some industry expertise.Your team has been tasked with learning about important differences in the accounting and auditing for this new industry.That is, you need to become the firm experts on the industry since you will all be working on the audit of the new client.You should use any resources you think will aid in developing this specialized understanding.After conducting research, you need to memo to the managing partner of the office, Steven Hill, that outlines the following:
A.Important trends in the industry
B.Industry risk factors
C.Unique accounting practices for the industry
D.Auditing procedures that may be unique for the industry
The following industries is to be considered:
Real Estate Developers
I need help writing a memo. Can someone please help.
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