The following situation is about a Construction Company. The construction company employs workers at construction sites and pays them hourly wages. The wages are calculated and paid every week based on total hours worked by a worker in the previous week. The company's accountant collects hours worked from each worker for the week, and makes calculation of the worker's total wage, tax deductions and net pay. Because the accountant collects information from the workers directly, there is no verification of the hours. Sometimes, workers are not present and hours are missed from calculation. Sometimes, the work hours are incorrect. You are the new accountant. You want to use an accounting software that will help the company mitigate the risks and streamline the process. You are required to answer the following questions from the situation described above. 1. Identify and explain two risks in the current situation and explain how these risks are affecting financial statements of the company. (2x (3 +7)=20) 2. Propose one Preventive, Detective and Corrective Control for each risk identified. Explain how the control identified is mitigating the identified risk. (3 x (1+4)=15) Ripande BI E