You have been approached by the financial institutions DatabankFinancial Services Limited and Blackstar holdings limited to be their auditors.

a$.$ Iterate the factors that can heighten engagement risk as auditors for either of this companies and what kind of information you will require to guide your decision.

b$.$ Assuming you consider a risk$-$based strategy as an effective auditstrategy for executing your mandate, what are the probable areasof risk you will focus on and how will you test for them?