Choose a company that interests you and access their most current financial statements, MD&A and SEC filings. Using this information and any additional information you can gather about the industry, economy, and regulatory environment the company operates in complete a Risk Assessment for the company’s audit.You should have multiple risks in each area. Risk areas may include competition, economic, industry, regulatory, environment, etc.At a minimum, your risk assessments should include the following:Risk descriptionEstimated impact (low med high) based on materialityEstimated likelihood (low med high)Use an Excel table to present your risk assessment. This workbook will then become your audit working papers.

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