1 In the audit of sales account, the amount presented on the financial statement is $5,000,000. You are the auditor and you have determined the level of materiality of sales account to be $50,000.

Q. Assuming you have checked the sales account and have detected that client recorded a sale transaction of $40,000 that did not actually occur during the year. - What management assertions is violated (i.e. at risk) - What would you do if you have determined that this is an error (an unintentional mistake) - What would you do if you have determined that this is intentionally done by the clients sales manager to achieve the sales target. Also indicate the type of fraud in this situation under Australian auditing standards (ASAs).