AUDITING & ASSURANCE SERVICES CONNECT AC
AUDITING & ASSURANCE SERVICES CONNECT AC
10th Edition
ISBN: 9781259292057
Author: MESSIER
Publisher: MCG
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Chapter 4, Problem 4.32P

A

To determine

Introduction: Business risk refers to the risk which may affect the profit earning capacity of the firm due to unforeseen circumstances which may appear in the near future.

To describe: Business risks that NS, a bio-tech firm is likely to face being a start-up company.

B

To determine

Introduction:Business risk refers to the risk which may affect the profit earning capacity of the firm due to unforeseen circumstances which may appear in the near future.

To describe: The effect of management risk on the decision of the auditor to accept the firm as a client

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