Based on all of the information that has been gathered, the partner has identified a number of areas requiring further investigation. See the table below for details. For each of these areas, discuss how the issue presents a risk of a material misstatement at the assertion level and what assertion is affected, and design a substantive audit procedure to address the identified risk. Be specific; marks will not be awarded for generic audit procedures. Include what assertion(s) is being tested. Use a chart like the one, there are 2 pics below

NBYP pays GGI a 25% commission every quarter based on reported sales. GGI waits until the commission is received before recording it. NBYP inventory is mixed with GGI inventory. Unreconciled transactions with Sweet Treats. Nousha claims she was charged for product she never received from GGI. Ray could not find any records of the deposits for the\fIssue Inventory is not being counted as it is being received. 1What is the risk of a material misstatement? Example: Inventory may not be recorded, and there may not be purchases accrued; therefore} inventory and the related payable may be understated. Account and assertion irrrp acted Example: Inventory and 1UP completeness and existence Substantive audit procedure to address risk Example: Perform test counts of inventory and compare them to the inventory subledger to ensure that inventory on hand is reected in the suble tiger. Select invoices received both immediately before and immediately after year end from suppliers and trace them to the accounts payable subledger to ensure that all payables are captured in the appropriate period