Question 1. Comment on James' assessments of the benefits and costs of these options. Are there other options available to Water Works? Discuss the benefits and costs of these additional options. 2. What is the audit trail of transactions, records and documents that James should work through to verify the inventory values and numbers? Identify the relevant transactions, records and documents in your analysis of the audit trail. 3. What internal control mechanisms can Water Works apply to address the misappropriation of inventory by employees? 4. What human resource issues are raised in this case? What possible courses of action are available to John should he be named as a suspect in this case? For this question, refer to the relevant IPPF standards, regulations and laws, where possible