Your PA firm has just obtained a new client and you have been assigned the task of preparing the knowledge of business section of the file.Which of the following best describes the process of gathering the knowledge of business for a client?
A)discussing processes and business objectives with company employees
B)gathering information about the industry and regulatory environment
C)understanding the client's business,industry,and regulatory environment
D)examining the legal expenses file for possible regulatory infractions

Question

Quizplus · Accepted Answer

The process of gathering the knowledge of business for a client involves understanding the client's business, industry, and regulatory environment. This can be done through various methods, including discussions with company employees, gathering information about the industry and regulatory environment, and examining relevant files. However, the primary focus should be on understanding the client's specific business and how it operates within its industry and regulatory context. Examining the legal expenses file for possible regulatory infractions would be a more specific task within the broader process of gathering business knowledge.

Your PA Firm Has Just Obtained a New Client and You