QUESTION B1 risk assessment - going concern - materiality Under the regulatory frameworks in the audit, auditors are mandatorily required to carry out risk assessments, to be able to provide reasonable basis for identifying and assessing the risks of material misstatement. These risk of material misstatements can arise from external factors and also internal perspectives. Hence it is important for auditors to do prior planning in terms of risk assessments, to ensure major risk areas are covered in their audit. REQUIRED: a) Explain Going concern and how it relates to risk assessment. Present FOUR (4) indicators that an auditor can assess to review the GC status of a client. Elaborate your points. (15 marks)