Consider the following two independent material situations. a) Robyn Young was the CEO and director of PACT Ltd, until she died unexpectedly. After her death,her son, Winston, became the new CEO of PACT Ltd and embarked on a cost-cutting exercise, which included a reduction in key staff in the credit department. b) During the planning stage of the audit of PACT Ltd, the audit senior assessed the sales control systems to be effective. But when testing sales, the audit assistant traced two sales to supporting documentation (invoices) with dates for the prior financial year. Required: For each of the two situations described above: i) Provide a brief explanation as to why the situation constitutes an audit risk ii) Indicate and justify the component of the audit risk model affected iii) Indicate the key account balance(s) affected iv) Indicate the audit assertion(s) to be tested Please present your answer in a table as follows: Why the situation constitutes an audit risk? Component of the audit risk model affected Key account balance(s) affected* Audit assertion(s) to be tested* a) b)