Your Ask Joey ™ Answer

What type of industry research can I review to learn more about my audit client’s industry?

An auditor should use whatever information they can to understand their client’s industry. It will help them understand the current state of the industry, as well as any risks their client might face. Industry resources will also help you understand what the unique items/situations to expect. This information is helpful to pass the CPA exam but also helpful for being successful in your career!

The visual below illustrates some common resources you should reference to learn more about your audit client. Go on and be a rockstar!

Back To All Questions

You might also be interested in...

  • Discontinued Operations on the FAR CPA Exam

    Overview of Discontinued Operations In financial reporting, discontinued operations refer to a component of a company’s core business or product line that have been divested or shut down. Discontinued operations will be reported (net of tax) separately from continuing operations on the income statement. The reason that discontinued operations are reported separately is so that...

  • Equity Method Excel Workbook

    If you would like to use the Excel workbook that was used to create the Universal CPA lecture on the equity method, please click the link below to download the Excel workbook: Equity Method Lecture Example

  • How Hard is the CPA Exam?

    So you’re thinking about taking the CPA exam? Whether you have a dream of becoming a tax advisor, feel as though you need public accounting experience, or just want to solidify your business acumen, the CPA license is one of the most prestigious and well respected licenses in the business world. The exam itself is...