Internal Auditors in the Fast-Food Industry. Internal auditors perform risk-based auditsthat go beyond the risks of the financial statements. Assume you are on the internal auditstaff of McDonald’s.Required:a. Identify the risks in the fast-food industry associated withI. Competition.II. Customer preference.III. The economy.IV. Technology.V. Regulation.VI. Other risks.b. Explain how each of the risks you identified could affect McDonald’s.c. Explain how these risks might affect the internal audits performed by the internal auditstaff for McDonald’s.

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