Question

what the auditor of firm must have konwledge of​

Answer 1

Answer:

To know what to control in the audit the auditor first needs to identify all business risks in the company. When the auditor knows the business risks it is possible to find out where the financial risks might exist, thereby, the auditor knows what to control (Humphrey et al., 2007; Flint et al., 2008).

Answer 2

To know what to control in the audit the auditor first needs to identify all business risks in the company. When the auditor knows the business risks it is possible to find out where the financial risks might exist, thereby, the auditor knows what to control (Humphrey et al., 2007; Flint et al., 2008).