QUESTION 2 TESTS OF CONTROLS (6 MARKS) TNA Productions hires out sound and lighting equipment for functions and events. Most of its clients are commercial and local government agencies. You have been assigned to the audit of TNA productions for the current year. During the planning stage of the audit you have identied the following signicant risks: a) Accounts payable. TNA has a large number of suppliers for various electrical supplies and equipment. Paying the supplier twice for the same purchase has been an ongoing problem. b) Payroll expense. TNA employs a large number of casual staff to assist with setting up and packing away after serviced events. These events often take place over weekends and at night, with some events requiring overtime hours being worked. There have been frequent occurrences of standard weekend and night shifts being paid at overtime rates. Reguired: (6 marks) For each of the accounts for TNA Productions (1 and 2 above) identied to be a significant risk: 1. Determine the key assertion at risk. (2 marks) 2. Describe a practical prevent internal control that would directly address the risk. (2 marks) 3. Describe a test that you would perform to assess whether the control was functioning correctly. (2 marks)