2 (9 marks) Audit Risk Assessment You are a part of the team responsible for planning the audit engagement for Nick Scali Limited (ASX code - NCK), a furniture importer and retailer, in 2022. You are required to gather relevant background information and prepare a report for a meeting with your audit seniors. Assume that this is the first time your firm will audit this client. Required: Your report must address the following issues: (i) What are the principal sources of NCK's revenue? (50 words) (1 mark) (ii) Based on your understanding of NCK and its environment, list and explain two key business risks which would impact on the audit of NCK. (300 words) (2 risks*4=8 marks) Answers for above questions should reflect your in-depth understanding of NCK operations. You should conduct extensive research and perform an analysis of the annual report of NCK for the year ended 2021, and any other relevant information that you have obtained (hint: some sources beyond the annual report might include: the company's home page, other company disclosures and business media reporting)