Describe the audit procedures you will conduct when you attend the inventory count at the end of Sharewar inancial year? 3.2 3.2.1 When the auditor selects a sample of items in the warehouse and traces them to the inventory count sheets, is he/she testing for valuation, existence or completeness? Justify your answer? (2 3.2.2 If the auditor's risk assessment procedures suggest that internal control in the inventor and production cycle is weak, he/she will: a. increase his test of controls. b. increase his substantive tests. c. perform only analytical procedures. Justify your choice and explain why you rejected the other options? 3.2.3 To have a sound inventory internal control system a company must hour (6