For the purposes of this assignment, you are to imagine that you work as Audit Manager for a company called Amazing Accountants. Your new audit client is a listed company in Australian or Singapore Stock Exchange ( ABACUS REAL ESTATE ). The client has asked you to perform their financial report audit for the financial year ended 31 December 2020.

 PART 3 Identify or assume TWO (2) high level/detective internal controls and propose a control test for each control in ANY of the following processes. * Cash receipt and payment * Sales and accounts receivables * Purchase and accounts payables * Inventory and Cost of goods sold * Payrolls * Non-current assets and Depreciation 

Part 4 Question Design FIVE (5) substantive procedures for the transactions and balances discussed in question (3) and justify why you select these substantive procedures for the following scenarios: 1. Your proposed tests of controls in question (3) PASSED. 2. Your proposed tests of controls in question (3) FAILED.