While auditing your client Curtin Ltd for the year ended 30 June 2021, you noticed the following situations:

Required:

For the following independent situation, explain the (i) impact on control risk, (ii) give reason why, (iii) key account (s) affected and key assertion(s) affected and why.

Situations

As the bank reconciliations were done on a timely basis, Curtin Ltd failed to discover that one of its employees was transferring funds into a Swiss Bank account.

Explain the impact on control risk	Give reasons why	Key accounts affected	they key audit assertion affected	why is the assertion affected
?	?	?	?	?