Required: Audit planning involves developing an overall strategy for the expected conduct and scope of the audit and involves auditor consideration of a number of matters. For each of items 1 through 12 listed below, indicate whether the item is correct C in that it is normally a planning procedure, or incorrect if it is not normally a planning procedure. 1. Select accounts to be confirmed. 2. Perform the search for unrecorded liabilities. 3. Determine the planned assessed level of control risk. 4. Identify financial statement items likely to require adjustment. 5. Consider procedures aimed solely at identifying conditions and events that, when considered in the aggregate, might indicate that there could be substantial doubt about the client's ability to continue as a going concern. 6. Consider the client's use of service organizations such as service centers. O 7. Assess the conclusions reached and the evaluation of the overall financial statement presen- tation through use of analytical procedures. 8. Consider the nature of the audit reports expected to be rendered. 9. Consider the entity's accounting policies and procedures. 10. Identify the methods used by the entity to process significant accounting information 11. Consider the risk of the existence of related party transactions. 12. Consider the risk of the existence of reportable controls