Your firm has been appointed for the first time to carry out the audit of ZZZ Construction, a small construction firm in Muscat, for the year ending December 31, 2019. Sarooj Construction has been in operations for the last five years. It was doing well on the first two years but competition affected the business and they started to struggle from the third year up to this year, their fifth year in operation. As part of knowing the business, you communicated with their previous auditor. Your communication revealed that previous test of controls done indicated material weakness in the cash receipts from customers and disbursement for expenses. As the business is small, zzz Construction was not able to build stability and has been facing continuous losses since last year. The owner has been trying hard to improve the situation. He hired a manager who has been given wide powers for hiring and firing the staff and make all significant business decisions. The owner is aware that weak financial position will prevent the company from obtaining financial assistance from banks especially now that they need it. Furthermore, the owner is considering creating an internal audit department to improve their internal control. The owner expects to receive a report on weaknesses on the design and implementation of internal controls on top of the usual audit of financial statements. Required: Discuss matters that you would consider in developing the audit strategy for ZZZ Construction. Write the answers by using computers and should be equal or more than 300 words.