Assume you are engaged to audit GameStop Inc. ("GME") and you are planning the audit for the current fiscal year ending January 2022 (Note: Student is to do some preliminary research in general business press regarding GME stock activity over during 2021) INDICATE YOUR INITIAL PLANNING JUDGMENTS: (Low, Medium, High) CR is High - AR IR CR DR Initially set at You assessed You assessed HIGH You computed 5) Based on your INITIAL Planning judgments for Gamestock, do you expect the amount of audit evidence required to be (LOW, MEDIUM, or HIGH). 6) If it was determined that the internal controls of the company were strong instead of weak, would control risk Increase or Decrease? 7) If a company is a privately owned company would Audit Risk typically be HIGHER or LOWER than that of a similar company that is publicly traded