Prepare a memorandum to the audit manager, outlining your risk assessment relating to

Melodic Sounds Limited $($MSL$).$ When making your risk assessment:

$($a$)$ Identify four $(4)$ key account balances from the information provided that are

subjected to an increase in audit risk. Briefly explain what factors increase the

audit risk associated with the four $(4)$ accounts identified. In your explanation,

please mention the key assertion$($s$)$ at risk of material misstatement for each

account identified.

$($b$)$ Identify how the audit plan will be affected and recommend specific audit

procedures to address the risks associated with each account identified