b) Explain how the existence or non-existence of a good risk management process by an organisation affects the planning of an audit engagement. 5 Marks (TOTAL: 25 MARKS) Question 2 Kay Plc sells a high proportion of their goods on credit basis. The system for dealing with credit sales is very effective with the controls working very well. The sales receivables ledger is kept on a specially designed computer system. The sales receivables of the company as at 31 March 2022 appear in the accounts as Ghc7.68million out of gross assets of Ghc23.16million. You are required to: a) State and explain four (4) assertions that the Directors are implying in stating the sales receivables at Ghc7.68million? 8 marks b) Explain what two (2) possible misstatements could occur? 4 marks c) What four (4) varieties of evidence may be collected in respect of this current asset? 4 marks d) What four (4) basic techniques for collecting evidence can be applied to the item? 4 marks