Please help me with this audit assignment, I would be so grateful for your help!

A is a manufacturing company, specialized in producing and processing environmental friendly products. Most of the products are made from paper, recycle material, wood. The company was established and operated for 13 years.

Given that the Materiality (M) is set at 364,000,000 and Performance Materiality (PM) is 273,000,000, Audit Misstatement Posting Threshold (AMPT) is 18,200,000

Your audit team went to the client site to perform the final audit fieldwork. Extract of audit working papers are presented.Identify possible misstatements and discuss further course of actions for you and your audit team

Finding during the field work:

Finding 1: Bank reconciliation Cash balance per client - 31 Dec 2019 31 Dec 2020 Cash on hand 25,500,000 2?,000,000 Cash at bank ?87,000,000 870,000,0000 On 31 Dec 2020, while observing the client perform cash count procedure, the auditor notice an issue: 1' In the safety box: there is 29 notes of 500,000, 25 notes of 200,000, 50 notes of 100,000 and 40 notes of 50,01! 0 The client already,t detected 1 missing note [500,000] however the amount is too small then they decided to leave this problem and issue the cash count minute Cash count minutes Date: 31 Dec 2020 Note Number Total amount 500,000 30 15,000,000 200,000 25 5,000,000 100,000 50 5,000,000 50,000 40 2,000,000 20,000 0 10,000 0 5,000 0 0 2,000 0 0 1,000 0 0 Total cash counted 27,000,000 Total cash per book 27,000,000 Differences 0In addition, total amount of Cash at bank are deposit in National bank, the bank statement is sent directly to auditor: From: Henry Emerald Manager National bank To: Ltd., / Date: 15 January 2021 Subject: Account balance confirmation letter Dear Sir/ Madam, As per your request, National bank hereby confirms that as at 31 December 2020 the balance of your account is as follow: Account no. Open date |End date | Currency Bal 130000001 1/1/2016 NA 855,000,000 In words: Eight hundred fifty five million Yours sincerelyFinding 2: During observation of stockcount as at 31 Dec 2020, the audit team took a sample of raw materials and recorded the result as bellow: Item code Quantity per count Quantity per book Addition information Paper cup 500 boxes 500 boxes Price of each box: 120,000. Half of them were wet, due to a hole in the roof and the heavy rain last month. Proper supporting documents Bamboo straw 0 boxes 872 boxes Price of each box: 350,000 The inventory is ordered, billed and paid at 29 Dec 2020 but still in transit. Delivery term is FOB. Rice straw 200 boxes 200 boxes Price of each box: 400,000 Proper supporting documentsFinding 3: Assume that the client made the following actual credit sales and received cash receipts as follows after 29 December 2020: Sale () COGS Cash receipt (Receivable collected) 30 Dec 2020 | 20,000,000 13,000,000 |22,000,000 31 Dec 2020 23,300,000 10,800,000 18,000,000 1 Jan 2021 19,800,000 8,500,000 19,500,000 2 Jan 2021 22,000,000 14,900,000 24,500,000 The company closed the cash receipts journal at 29 December and reported the last two days of cash receipts in January of 2021. The company uses a periodic inventory system