Question $2[10$ marks$]$

Jackson $($Pty$)$ Ltd is a construction company registered in Namibia and is constructing bridges and roads. The company has an overdraft facility approved with FNB Namibia for N$$200$ million and has drawn on this facility during the year. The current overdraft is N$ $180$ million which is a liability as of year end. The company also has loans for the vehicles and the trucks used on site.

Required: Briefly outline audit procedures and related relevant assertions in respect of the transactions and balances and explain briefly in context to the above company. $[10$ marks$]$