You are the audit senior assigned to the audit of Henrico Retail Inc. The audit partner recently asked you to assist in planning the audit of the sales system based on your review of the client-prepared sales system narrative.The partner has asked you to address the following issues: [1] Describe the sales transaction audit trail from the point of sale to the general ledger posting to the consolidated sales accounts at the corporate office. Be sure to emphasize which aspects of the audit trail are in paper or electronic form. [2] Describe the difference between a preventative control and a detective control and give an example of each that are present in the sales system at Henrico. [3] Develop a proposed strategy for auditing the occurrence assertion for sales transactions. Describe whether there is a sufficient paper-based audit trail to audit that assertion without relying on IT audit specialists to test electronic only processes. [4] What evidence source would you use to select a sample of sales transactions to test the occurrence of sales transactions at one store? Why would you use this source? What evidence would you examine for each transaction selected? [5] Develop a proposed strategy for auditing the accuracy assertion for sales transactions. Describe whether there is a sufficient paper-based audit trail to audit that assertion without relying on IT audit specialists to test electronic only processes. [6] Describe whether you can use the same sample of transactions selected to test the occurrence assertion to also test the accuracy assertion. [7] How would you select a sample to test the completeness assertion for sales? Explain whether the sample used to test the occurrence assertion would be effective for testing the completeness assertion. [8] How do risks related to manual controls differ from risks related to automated controls? Give an example of each from the sales system at Henrico. [9] What portion, if any, of the accounting system will likely require the assistance of an IT systems auditor, who evaluates evidence existing only in electronic form? [10] What control deficiencies can you identify in the existing sales system?