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Scenario: You are the audit manager at Black & Blue, undertaking the audit for the year ended 30 June 2020 of High Tech Led, an electronic component manufacturer located in Sydney. During the planning stage of the audit you discovered that one of High Tech Lid's major suppliers went bankrupt one month ago, causing major product shortages. To overcome the problem, Peter James, the husband of the finance director, Natalie James, provided electronic components to High Tech Lid through his private company. There is no formal agreement in place with Peter James, however, the goods are being provided at competitive prices. You are concerned about the electronic components that Peter James' company is supplying, because his products are new to the market and you have heard some of High Tech Lid's staff complaining that they are of poor quality. The board has informed you that although sales have been strong this year, High Tech Lid has suffered significant cash flow problems because a major debtor, Creative Lid, is experiencing financial difficulties. As a result, Creative Lid is taking well over 120 days to pay outstanding amounts, despite Creative Lid's terms of trade being payment within 30 days. Creative Ltd makes up 40 per cent of High Tech Lod's sales and the board has been reluctant to take any action that might adversely affect those sales. As a result, High Tech Lid has had to increase its dependency on its line of credit, and this has caused it to temporarily breach the debt-to-equity ratio required in its loan covenant with Big Bank Ltd. PART A) Identify two key account balances at risk of material misstatement and for each account balance identify the key assertion at risk. Also explain why the account balance and assertion are at risk, Use the below format to answer the question: (9 marks) Key account balance at riskKey assertion at risk Explanation (as a guide, your answer should be minimum approximately 20 rows to adequately address the question] PART B) Describe one (1) substantive test of detail that you would undertake for each account to address the assertion and risk identified (5 marks) (as a guide, your answer should be minimum approximately 6 rows to adequately address the question) PART C) Identify and explain two key going concern factors that would place the going concern assumption at risk in relation to High Tech Lid's financial report for the year ended 30 June 2020. (8 marks) - (as a guide, your answer should be minimum approximately 6 rows to adequately address the question) PART D) Identify and explain one key related party transaction factor that would increase the risk of material misstatement. (4 marks) (as a guide, your answer should be minimum approximately 6 rows to adequately address the question)