ABC Sdn. Bhd. Is a mobile phone company that operates a chain of stores in Malviv countries. The company closed on September 30, 2019 and is a new client for Sanusi and associates. Mr. Sammy is the Senior Aud Dieter of Sanusi & Associates and following his meeting with the CFO, the following plan notes were given to an und Partner. ABC buys the goods from a South Asian supplier, and the goods are shipped to the company's central warehouse. The item is usually in transit within one month and the company records the item properly upon receipt. ABC does not make year-end inventory, but monthly continuous (permanent) inventory, and the errors it encounters are fixed in the inventory system for months. During the year, the company introduced sales-based bonuses to its sellers. The bonus target was based on an increase in the number of customers signing a 36-month telephone line contract. It was successful and has seen a 30% increase in revenue, especially in the last few months of the year. The accounts receivable are significantly higher than last year and some customers are concerned about credit. ABC has a policy for land and house appraisals and has updated all land and house appraisals this year. During the year, each director received a significant bonus, and they included it in their paycheck. Separate bonus announcement During the year, the company introduced a revenue bonus to its sales force. The bonus target was based on increasing the number of customers signing 36-month telephone line contracts. It was successful and there was a 30% increase in sales, especially in the last months of the year. Receipts are significantly higher than last year and some customers have credit concerns about them. ABC has a policy of revaluating its assets and has updated the ratings of all properties and buildings this year. During the year, the directors were each paid a substantial sum which was included in their salaries and salaries. Local law requires separate disclosure of bonuses. Required: a. Explain how the auditor assess control risk in the inventory process of ABC Sdn. Bhd. by providing ONE (1) example each. b. Discuss the potential risk during audit planning of ABC Sdn. Bhd. based on the notes given by the audit partner. c. Assess how the auditor’s response to each risk of ABC Sdn. Bhd. in (a). d. Recognise the auditor’s responsibilities for related parties and related party transactions of ABC Sdn. Bhd.