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This Concept Map, created with IHMC CmapTools, has information related to: Audit Planning, Understanding client's business aided by Review of: - prior-year misstatements - bylaws/charter - contracts, agreements - minutes, Understanding client's business aided by Analytical procedures, Analytical procedures including Ratio analysis, Understanding client's business used to identify Risks of potential misstatements, Analytical procedures including Industry comparisons, Audit planning begins with Understanding client's business, Analytical procedures including Budget vs Actual, Strategic analysis using tools like Diamond-E, Understanding client's business aided by Strategic analysis, Risks of potential misstatements affecting Assertions, Analytical procedures including Trend analysis, Analytical procedures including Financial vs Non-financial information, Strategic analysis using tools like Porter's Five Forces, Analytical procedures including Vertical analysis (Common-size FS), Risks of potential misstatements that exceed Materiality, Understanding client's business aided by In-depth discussions with key client personnel, Strategic analysis using tools like PEST