Please answer all question 2 I) II) III).Thank you

QUESTION 2 (Audit Risk | Materiality) You a independent issues in relation to the audit of Sleek Ltd: (i) re an assurance services senior at Bailey & Associates and have noted the following m at Sleek Ltd did not operate effectively during the first year of Sleek Ltd did not implement effective reased competitive pressures, Sleek Ltd has recently moved the The accounting syste operations. Consequently, some general ledger accounts had to be based on stimates, as the actual data relating to these balances had been lost. As a result of cost constraints, the directors of internal controls for debt collection. The debtors' turnover is 3.2 times (ii) While manufacture of some of its clothing lines out of Melbourne into regional areas. Sleek Ltd saves around 20% in costs, the manufacturing on several occasions late delivery has resulted in lost sales process takes longer and REQUIRED Explain each of THREE (3) separate issues and their impacts on your assessment of audit risk, the materiality level and the audit strategy that would be adopted. Please use the following table format to answer the question in the answer booklet Issue explained Audit risk assessmentMateriality level Audit strategy 13 x 4 12 marks]