For this assessment, you should assume you are on the internalaudit staff of a publicly traded company. Choose company Amazon.You will be required to obtain the last two years’ worth offinancial statements and a recent audit report. The internal auditgroup at the company is tasked with preparing for an upcomingrevenue audit and analyzing the business risk internally tomitigate audit findings. You will conduct an internal audit of thecompany using the information gathered and create a report. Then,you will prepare appropriate memos analyzing the audit report youhave prepared, while offering feedback and recommendations.

A. Describe how you would conduct the audit process,incorporating the analytical procedures you would use toinvestigate selected business transactions.

1. What steps will you take to review the company’s businesstransactions?

2. What would your plan be to utilize these procedures?

B. Explain the appropriate field work needed to review high-riskbusiness transactions for cash and revenue.

1. What would you need to do in the field to investigatethese?

2. Could you convey this information through charts or othersupporting documentation?

C. Create a test to assess appropriate assertions for designatedhigh-risk business transactions.