3 10 points SAVE ANSWER You are the audit manager at Winsome Rodgers, a medium-sized audit firm undertaking the audit for the year ended 30 June 2021 of Techchamps Pty Ltd, an electronic component manufacturer located in Sydney. The following information was gathered by your audit senior. Management recently decided to relax credit terms for debtors. This involved increasing the number of days to pay from 60 days to 90 days and increasing credit limits. Ratio analysis has indicated the inventory turnover has gone from 5.16 in 2021 to 3.89 in 2022. Inventory represented 15% of sales in 2013 and is now 22% of sales in 2022. Creditors are recorded in a ledger that is produced monthly. Techchamps's staff have been having problems with the ledger because it has reached the maximum number of creditor accounts. Management have approved an upgrade to a new system. In the meantime, Techchamp's staff are relying on extensive manual records. Required a. Identify three (3) account areas that are at risk of material misstatement. (3 marks) b. For each of the three (3) account areas you have identified in part a), outline the key assertion at risk. Briefly explain why this assertion is the most important. (3 marks) c. For each of your assertions in part b, list one (1) appropriate audit procedure. (4 marks) In the answer box below, write the letter and your answer. e.g. a. Your answer Consider using the following table format to provide your answers: Key account balance at risk Key assertion at risk Assertion explanation Audit procedure