Question 3 50 points a. Please fill the highlighted cells with given data, estimate the planned detection risk and planned audit evidences. (1 point each per cell) Capital Sales and Inventory and Risk Acquisition and Payroll and Acquisition and Warehousing Collection Cycle Payment Cycle Personnel Cycle Repayment Cycle Cycle Misstatement Many Few Many Some Some Expectation misstatements misstatements misstatements misstatements misstatements Inherent Risk Level Internal Control Low Low High Medium High Effectiveness effectiveness effectiveness effectiveness effectiveness effectiveness Control Risk Level Acceptable Audit Risk Low willingness Low willingness Low willingness Low willingness Low willingness Assessment Acceptable Audit Risk Level Planned Detection Risk Planned Audit Evidences b. Regarding the planned detection risk and planned audit evidences you estimated, which cycles will become the easiest and the hardest to audit? Please explain with your own examples. (15 points) c. How will the planned detection risk affect the auditor's workload during the audit process? Please explain with your own examples. (10 points)