The auditor's understanding of the entity
and its environment consists of an
understanding of the following aspects
except
a. Industry, regulatory, and other external
factors, including the applicable financial
reporting framework.
b. Nature of the entity, including the
entity's selection and application of
accounting policies.
c. Measurement and review of the entity's
financial performance.
d. Entity's selection and screening
process of marketing and production
personnel.
and its environment consists of an
understanding of the following aspects
except
a. Industry, regulatory, and other external
factors, including the applicable financial
reporting framework.
b. Nature of the entity, including the
entity's selection and application of
accounting policies.
c. Measurement and review of the entity's
financial performance.
d. Entity's selection and screening
process of marketing and production
personnel.