Identified 5 inherent risks and 5 control risks that may impact the financial statements of Tabcorp Holdings Limited, you are required to develop an overall audit strategy/plan. For each of the risks that you have identified, please specify which types of testing procedures should be employed for planning the audit. [ Provide at least 4 references]

[ It will be highly advisable if you can present your response in the form of a table that will clearly show the: Risk identified, Audit risk assessed, Audit approach including details of audit procedures planned and Evidence to be collected for testing ]

When discussing the need for testing, you must link to the theories of audit and the relevant literature to justify and clearly explain why such rigorous testing is required. [ Provide at least 3 references]

You must conduct sufficient research in this area (using journal articles) to justify the need for such extensive audit work using relevant theory.

Note:

This question was earlier posted and it was very poorly answered. Please follow the requirements for the question when answering it.

Overall Provide at least seven references that are retrievable from google scholar.

Please ensure to use the company website, financial statements and all publicly available information.

Both in-text and reference lists must be in Harvard style.

The minimum word length required is 950.

Academic journal used for this task must be reliable