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REQUIRED (a) Identify and explain the two key assertions most at risk in relation to the intellectual property intangible asset (b) Identify and describe a

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REQUIRED (a) Identify and explain the two key assertions most at risk in relation to the intellectual property intangible asset (b) Identify and describe a substantive audit procedure that you could perform in response to each risk identified above (c) Explain the requirement of ASA 701 Communicating Key Audit Matters in the Auditor's Report and the rationale for this auditing standard. Determine if the above matters are key audit matters, providing full rationale for the determination. If it is determined that they are Key Audit Matters, provide the disclosures which are required in Key Audit Matters Section of the Auditor's report as required under ASA 701. Requirement: Using reference materials available on the internet, research the topic and prepare a report, fully referenced and up to 2,500 words (assignment in excess of 2,500 words will be penalized). Minimum of 8 academic references is required

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