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Solve this Inventory of various medical supplies and drugs is a material account on the LB Canadian Pharmacy audit engagement. You are planning to adopt

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Inventory of various medical supplies and drugs is a material account on the LB Canadian Pharmacy audit engagement. You are planning to adopt a combined audit approach for existence of inventory. In addition, you rely heavily on preventive control procedures to ensure the physical security of inventory. 21 You have just completed your tests of controls in relation to physical security procedures. Your projected error rate, based on the results of your already large sample size, is higher than the tolerable error which you have set and confirmed as 24 being appropriate. REQUIRED: Identify and explain the impact of the projected error rate on your planned substantive audit procedures in the two independent scenarios, presented in Questions 35 and 36: Question 35 (2 points) 30 Scenario: The sample selected is deemed to be representative and the errors occurred throughout the period being audited. Please identify the impact and provide the relevant explanation. Format " B / U - Question 36 (2 points I relate to a jo: All of the O Fi

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