Because of its expected growth, Deal has asked PASLE, LLP (PA&E) to perform an audit for its first year end of June 30, 2016. It is now August 7, 2016. The partner says to you, \"CPA, the engagement acceptance procedures are done and the firm has accepted Deal as a client. Please draft an audit planning memo that includes an overall PIS risk assessment, materiality, approach, and the key audit procedures you think we should perform on the high-risk areas. I emailed you my notes from my discussion with Luke and Cal (Exhibit I), the draft nancial statements for the year ended June 30, 2013, and notes prepared by Deal's bookkeeper (Exhibit II)."