You are required to consider the challenges facing contemporary auditors due to the increasing use of technology by businesses: 1. What impact does the purchasing and selling goods over the internet (both locally and internationally) have on business operations? 2. What are the risks businesses face due to purchasing and selling goods over the internet? 3. How might the risks identified in point 2 above lead to fraud or misstatements in the financial statements? 4. How can auditors go about identifying the fraud or misstatements you have identified in point 3.