APKADMS 4551 Practice Final Examination P. 6 Question 4 (Continued) Required: A) Assess audit risk for the RTL engagement. (3 marks] B} Determine materiality for planning purposes (planning materiality). Be sure to use both quantitative and qualitative analysis. [5 marks) C] Assess inherent and control risks for sales and accounts receivable. To facilitate your assessment, do some basic analytical review calculations. (6 marks} D) Provide a conclusion about the audit strategy that you will use for the sales and accounts receivable cycle, and state why you will use the audit strategy. (2 marks) E] State two audit assertions that are at risk of material misstat-ent for the sales and accounts receivable cycle and explain why. Provide audit procedures for those assertions. [4 marks) [Note that if you use the same response in more than one part of the question that it will be awarded marks only once.)