Johnston Plc is a software development and computer manufacturing company. The company has grown considerably in the last seven years; expanding to have more than thirty factories across the globe, including the UK$,$ and with operations in more than sixty locations world$-$wide. Its customer base includes retailers as well as individuals, to whom

direct sales are made through their website.

The following recent developments have come to light:

$1)$ In April $2022,$ the Board of Directors appointed a new CEO and an acting FD to replace the former CEO and FD$,$ who were asked to step down by the Board, due to on$-$going fraud investigations.

$2)$ For the last ten months the accounts department has experienced a high turnover of staff, with most ex$-$staff joining the company$$s main competitor, Dawson Plc$,$ who offer more attractive pay packages.

$3)$ One of Johnston Plc$$s other competitors, Cogy Limited, went into receivership in March $2021$ due to the increasing pressure on margins in the industry as well as changing market conditions resulting from the coronavirus crisis in Europe.

Required:

c$)$ If your firm was newly appointed as the auditor of Johnston Plc$,$ suggest what the key audit risks might be$.$