1. Write a memo to me (in proper memo form) telling me about CANNABIST and our audit strategy. I am a new Audit Manager and you are a second year audit staff (returning on the client). Tell me all you know. I know NOTHING about this client. Tell me what I need to know to get up to speed and be in synch as the audit starts in a week. Where appropriate, you must use terminology we have been using in class. At a minimum (the list is not all inclusive) your memo should touch on the following items (the bullets are a guide. You cannot use bullet points in the memo, I want proper paragraphs - not one big paragraph). Use the article and your general knowledge or research, to fill in the void where specific information might not be available: Preliminary engagement activities including evaluation of risk assessment. What are the inherent risks (how were they determined) - name at least three and tell me why they are inherent risks. What are the control risks - name at least three and tell me why they are control risks What accounts are significant? Which assertions are relevant to those accounts? What possible fraud activity could occur What will materiality be based on. Will any experts be needed for the audit. memo must be a minimum of 400 words)