Auditing Cash and Bank You are a junlor auditor on the external audit engagement of a five star hotel Negril, Jamalca. As a part of your professional development you are required to assist with the planning of an audit. The planning of the cash and bank area was assigned to you. Your cllent has several accounts with several banks in varlous currencles. All suppliers are pald via bank transfer. The client also pays salarles fortnightly and also via bank transfer. The total payroll amount is transferred prior to pay day from the main account to a Payroll Account. Guests pay cash at the front desk upon arrival for their rooms as well as for other services. These monles are lodged to the bank dally at approximately 3 pm. A lodgment slip is prepared which detalls the sum of each currency collected. This lodgment slip is stamped by the bank as evidence that sums have been recelved. 1. List and explain all the possible risks your client faces given the detalls in the paragraph above. 2. Design the procedures you deem necessary to address the risks you outilned in your response to 1 above. 3. Describe five controls necessary in the cash and bank area