Aerospace Lighting, Inc. (ALI): Linking Business Strategy to Audit Planning

Aerospace Lighting Inc. (ALI) is a supplier of cabin lighting systems to the aerospace industry. A recent change in ALI's ownership has prompted a change in the company's business strategy, as well as a change in the company's external auditors. As a member of the audit team, your assignment is to write a memo that identifies significant business risks facing ALI and elaborates on potential audit issues.