You are an Audit Partner of a local audit firm, Naidoo Inc. The firm is in the process of formalising its policy regarding planning and obtaining knowledge of the firm's audit clients. The Junior Audit Manager has approached you for assistance in this regard. REQUIRED: 4.1) List the factors that influence the extent of planning of an audit required by the auditors. (3 marks) 4.2) Identify the factors the auditor will consider in obtaining knowledge of the firm's clients. (7 marks) PART B The following are aspects that your audit firm considered when determining the sample size for a substantive procedure: a) An increase in the auditor's assessment of the risk of material misstatement. b) An increase in the use of other substantive procedures directed at the same assertion. c) An increase in the amount of misstatement the auditor expects to find in the population. d) Stratification of the population when appropriate. e) The number of sampling units in the population. REQUIRED: 4.3) Separately xplain the effect, with reasons, on the sample size of each of the factors (a-e) as listed above. (10 marks)