Article details Q1 – Is this relevant to Q2 – Which industry or Q3 – Which Notes

(Fictional news sources and topics) our audit of FoodCo? market trend is indicated by accounts do you
this article, if relevant? think could be
impacted by the
facts in this article?
Check “Yes” or “No.” Choose which industry or Give option of up to
market trend(s) apply in the five accounts for
article (you can choose more each and check
than one option). which boxes are
relevant.
News source  Potential positive
Daily Times impact regarding
going concern,
Topic assuming FoodCo is
Increasing use of food delivery able to tap into this
apps new market; potential
negative impact if
Technological Revenue they cannot.
Political Cost of sales  Could impact
Yes Economic IT costs company
No Social Property, plant expenses, IT
Regulatory and equipment development costs
Environmental (PPE) or even fixed
Inventory assets if the
company decides
to build additional
kitchen facilities to
serve this new
market.

News source Technological Revenue  Likely negative

Financial Daily Yes
Political Cost of sales impact in terms of
No IT costs
Economic
Topic PPE
Inflation impacting people's Inventory
discretionary spending
 Social revenue, and going
Regulatory concern implications.
Environmental
News source  Even though FoodCo
Finance Journal is not a pub group,
Technological Revenue this could be an
Topic Cost of sales indicator of changes
Political
Pub closures in England at
record high Yes Economic IT costs in discretionary
No Social PPE income spend;
Regulatory Inventory therefore, there is a
Environmental potential negative
impact in relation to
revenue and going
concern.
News source  Potential negative
Journal News Technological
Revenue impact regarding
Political
Cost of sales cost of sales,
Topic Yes Economic
IT costs which may impact
Increasing price of food as a No Social
result of recent global events, PPE FoodCo's ability
Regulatory
e.g., droughts impacting food Inventory to pass on price
Environmental
crops, and the war in Ukraine increases to
customers.
News source  Likely negative
European Finance News Technological
Revenue impact in relation to
Political
Cost of sales increasing cost of
Topic Yes Economic
IT costs sales, but potentially
Increasing minimum wage in No Social
Europe PPE positive in terms of
Regulatory
Inventory staff engagement or
Environmental
reduced

turnover.
 News source  Not relevant — this
Ohio Times is a different
Yes
N/A N/A company with a
Topic No
similar name.
A small independent restaurant
called Food Corporation
winning a local business award
in a country that FoodCo
doesn't operate in

News source  It is likely indicative

Sustainability Today of an increase in
costs (or reduction
Topic in revenue) if not
Increasing focus on "food
miles" and the fact that a addressed by
Revenue
number of restaurants are Technological FoodCo.
Cost of sales
looking at sourcing food more Political  This and other
IT costs
locally Yes Economic climate change
PPE
No Social risks may need to
Inventory
Regulatory be considered more
Environmental often in the future,
in terms of how
News source  Thismuchwill itlikely mean
could cost
Farmers Bulletin that
to remediate orneed
FoodCo will
to prevent
source tomatoes
issues in
Topic Revenue from
thisanother
area.
There has been food crop Cost of sales
issue with tomatoes in Country Technological (potentially more
Political IT costs expensive) country
A, where FoodCo sources most
of its tomatoes Yes Economic PPE and could have a
Inventory
No Social negative impact on
Regulatory cost of sales and
Environmental going concern.
This publication contains information in summary form and is therefore intended for general guidance only. It is not intended to be a substitute for
detailed research or the exercise of professional judgment. Member firms of the global EY organization cannot accept responsibility for loss to any
person relying on this article.