Sub-contracting costs To cope with the project backlogs arising from the pandemic, GPL Construction Company ("GPL") had to sub-contract some of the work to other contractors. The company's policy is to fully recognise sub-contracting costs upon payment to its sub-contractors. The Finance Director noted that there has been a backlog of outstanding payments to sub-contractors but asserted that GPL has good relationships with its sub-contractors and outstanding payments can be settled gradually given the current economic situation. Required: (a) Assess and discuss one (1) inherent risk that GPL is currently facing from the abovementioned Sub-contracting Costs Process. (b) For the inherent and/or control risk assessed, evaluate one (1) risk of material misstatement (RMM) and discuss one (1) corresponding financial statement assertion that you will be most concerned with. (c) For the Risk of Material Misstatements identified, analyse one (1) key control that GPL should implement. (d) For the RMMs documented, assuming the audit team is not able to rely on the client's controls (ie. Adopting Substantive Strategy), assess one (1) substantive procedure to be performed and explain how this substantive procedure will identify possible audit exceptions