This is a auditing case study. I do not know how to answer these questions.

You are the audit senior on Tables Limited (Tables) audit and have started planning for the 2016 audit. You have been able to get the following information about various sectors of the business. 1 - Property, plant and equipment (PPE) There are generally few fixed asset transactions. Asset registers are maintained, and staff are generally competent. The transactions are often not complex but an element of risk can be introduced when management has to make decisions concerning whether to capitalise or expense items. PPE, being less liquid than other assets, are generally not subject to theft. In recent years a number of PPE items have been manufactured in-house. You have noticed as a result of your analytical procedures that repairs and maintenance expense has dropped considerably in the last two years. 2 - Inventory balances and purchase transactions Although fairly voluminous, purchases transactions at Tables are not complex. Inventories are tightly controlled so that overstocking and obsolescence are normally not a problem. Inventory, although not as liquid as cash, is subject to theft. At Tables, finished package products are shipped immediately to customer, although large quantities of purchased merchandise are maintained on hand. The personnel handling purchases and inventory transactions are, in general, competent. Access to the warehouse is unrestricted. 3 - Trades payables transactions and balances Although not complex, the amount of trade payables transactions is quite high. A significant risk with trade payables is that employees may fail to record them in books. The reason is because the company has applied to the bank for an increase in its overdraft and wants to impress the bank with a strong current ratio. At Tables a request form is first prepared for all items that are to be paid through the cash disbursements system. The previous trade payables clerk, who had been with the company for eight years, left in December 2015. A new clerk was hired but is not yet thoroughly familiar with the procedure. 4 - Trade receivables and credit sales system Transactions of trade receivables and credit sales are not particularly complex at Tables, nor is there any degree of estimation involved (except for the allowance of doubtful debts account). The persons processing revenue and trade receivables transactions are thoroughly familiar with the procedures and are generally competent. Sales transactions processing does, however, entail the completion of many transactions. Competition from overseas is becoming an issue, and because of the poor general economic conditions some customers have requested extensions of time to pay. For each of the above account balances and classes of transactions: a) Determine any significant audit risks with reference to each relevant facts; b) Identify the key assertion at risk (as per ASA 315) to each significant audit risk; and c) Outline the internal controls relevant to the audit. Provide justifications in each case