For each: $1.$Identified GAAS $2.$Basic assumptions $3.$Consistent premises $4.$Logical principles $5.$Requirements$$

Answer the following questions

Audit Strategies Identify the audit strategies and related financial statement risks $($Existence or Occurrence, Completeness, Valuation, Rights and Obligations, Presentation and Disclosure, Accuracy, Classification, Cutoff$)$that are applicable. Identify the control objective and description of procedures in place that is relevant to mitigate the identified risk of material misstatement and achieve the objective. Include a detailed description of the control procedures noting the following:

$1)$Who performs the control procedures?

$2)$How is$/$are the procedure$($s$)$performed$?$

$3)$How is the performance of the control activity documented $($i$.$e$.,$what forms are used$)?$

$4)$How is performance of the control activity evidenced $($i$.$e$.,$signature and date on form$)?$Note whether control is preventive $($i$.$e$.,$acts before error, omission, or misstatement may occur$)$or detective $($acts after error$/$misstatement has occurred$).$Identify whether the control activity is performed manually $($e$.$g$.,$manual authorization or review of a reconciliation$),$is automated $($i$.$e$.,$system edit checks, system access restrictions and authorizations, automated review and approvals, etc.$),$or performed manually using system generated information $($i$.$e$.,$physically verifying existence of inventory using system generated inventory report$).$Indicate the frequency in which the control takes place $($e$.$g$.,$annual$,$ quarterly, monthly, daily, every time a transaction is processed$).$Indicate whether the control is designed effectively $($i$.$e$.,$is the control, individually or in combination with other controls, capable of effectively$$mitigating the key risk$($s$)$of material misstatement and achieving the control objective?$).$What outcomes occur if the control works effectively?$$What outcomes occur if the control is not working properly or is deficient?

Note: Design deficiency occurs when the control is not effectively designed to meet its objective $($e$.$g$.,$the control, individually or in combination with other controls, is not capable of effectively preventing or detecting and correcting material misstatements$).$What applicable Statement of Standards for Attestation Engagements apply? Indicate how the control improves operating effectiveness.