You Have Been Hired by a Local Grocery Store to Evaluate

You have been hired by a local grocery store to evaluate the internal controls of the store.a.Identify the assets of value in the store.Describe the internal controls that are likely to be used by management to safeguard the assets of the store.b.Describe how you would document and test internal controls in this store.c.Using the audit risk model,illustrate how your reliance on internal controls affects the substantive testwork done for the audit of the grocery store.