a. What is your assessment the risk of material misstatement at the assertion level for the BSL inventory? Make reference to case facts to support your conclusions.

b. Describe the substantive procedures you would include in your audit program for verifying the quantity and the pricing of BSL’s inventory. Explain how these procedures respond to the risks you have assessed in part a.

c. Identify three CAS that would apply to auditing BSL’s inventory and outline the requirements that are relevant.