The CPA firm of Penmen Associates is planning to take over the audit of financial statements of Keystone Enterprises. As a senior auditor for the firm, you have been tasked with evaluating Keystone, using GAAS, best practices and risk assessment techniques to identify the objectives and scope of the audit for this client. After completion, Penmen Associates has asked you to prepare for the audit. You will gain an understanding of Keystone’s internal control structure, financial accounts, business environment, materiality, and any inherent risks that may impact the company. You will also review external and other factors. Directions For this milestone, you will create a working paper. A working paper is an informational report prepared by accountants and auditors as supporting documents for formal reports and financial statements. Note that rubric criterion