1. Identify a significant inherent risk at the industry and entity levels that could potentially increase the risk of material misstatement in Sheridan AV's financial statement. Name the accounts and assertions, and the level of inherent risks in Working paper A1. Wlp ref: A1 Prepared by: Date prepared: Sheridan Audio Visual Limited Financial year ending 31 March 2021 Inherent Risk (IR) Assessment lR description Accounts Assertions IR assessment (2 x 2= 4 marks) (2 x 1 = 2 marks) (2 X 1 = 2 marks) (likelihood & materiality) (2 x 1 = 2 marks) _ 2. Entit level (4+2+2+2=10marks)