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Exercise 4 (Auditing) Activity Predecessor Duration (hours) A --- 3 B A 6 AB 14 Description Determine terms of engagement Appraisal of auditability risk and materiality Identification of types of transactions and possible errors System description Verification of systems description Evaluation of internal controls Design of audit approach D 8 E D 4 F BE 8 G F 9 a. Draw the project network diagram. b. Determine the ES, EF, LS, LF schedules for all activities. c. What is the slack for each activity? d. Which is the critical path and what is the project duration? e. If we delay activity A by one hour, what will happen to the project completion time? f. If we delay activity B by six hours, what will happen to the project completion time