You are performing the year-end audit of Presto's first financial statements reflecting ASC 842 (LEASES). Your first challenge is to evaluate the completeness of Presto's lease adoption population assessment, to determine whether all material leases were identified and appropriately capitalized. Describe the audit procedures you intended to follow, and cite sources that you found useful in researching the issue.

State the facts and issues, state the relevant references to back the facts (ASC, code of conduct), make an argument as to why certain references are applicable, and provide analysis.