Background This assignment used the Case Study Crest Outfitters in Moroney, Campbell and Hamilton (2020), Auditing: a practical approach, 4e, John Wiley & Sons, Australia which have been discussed in Tutorials throughout the semester. For the purposes of this assignment, you are working as a member of AuditTek audit team who audit Crest Outfitters for the financial year ended 30 June 2020. Questions: 1. Write a letter to Felix Wong, Audit Partner of AuditTek highlighting the impact of COVID-19 on the audit of Crest Outfitters. In your letter, discuss how COVID-19 can affect: (a) Two account balances and related assertions (5 marks) (b) Decision regarding the audit procedures for the identified account balances and assertions (5 marks) Please answer in the letter format. (5 + 5 = 5 marks) 2. Prepare a detailed key audit matters section which includes TWO (2) key audit matters and audit procedures. Each key audit matter should relate to the identified account balances and assertions at risk in question (2) above. Please answer in the tabular format of four columns (1) KAM number, (2) KAM title, (3) KAM detailed description, (4) Audit procedures. For example, the Audit report is in page 195 (PDF file) of the NAB 2021 annual report. (5 marks) 3. Discuss the advantages and disadvantages of using data analytics in auditing new clients. Refer to the recent academic literature in the last five years to support your discussion (10 marks)