You, CPA, are a controller with Old Timey Furniture Ltd. (OTF), a company that manufactures furniture to look like it is from the 1960s and '70s. The latest trend in home decor is to have your home look old-fashioned, and OTF entered the market just at the right time. You recently met with the CFO of OTF, Shania Mendez, and she is looking for you help with some accounting issues that were identified upon inspection of the June 30 financial statements. She has made a list of the issues she was unsure about (Appendix I). For each accounting issue, she would like you to discuss the potential audit impact so that she is prepared for it. Task #1 For each issue. you will need to provide Shania with the following: In an explanation of why it is an issue [ an analysis of the issue using the relevant sections from the accounting standards for private enterprises (ASPE) I a recommendation that is consistent with your analysis and considers the impact on the relevant users Your response, not including any Excel worksheets (if applicable), should not exceed four pages. Task #2 Then, for each issue, discuss the potential audit impact by identifying the key audit risk(s) posed by the issue and providing at least one specific audit procedure to address the risk(s). You will recall that procedures should include three components: what is being audited, why it is being audited, and how it is being audited. You know that your analysis will flow best if you discuss each issue from an accounting perspective first, and then, directly below your accounting discussion for that issue, consider the audit impact