SECTION 2-CASE STUDY: Audit of Purchase and Payments Cycle (15 Marks) Required: Explain the Purchase and Payments cycle and discuss the typical audit procedures employed in this area of audit. Note: Break up your response to this part in to sub-sections with appropriate sub-headings making it clear the theme that you are discussing Marks will be allocated to this aspect of presentation (between 300 -500 words) (15 marks)