(b) Identify and explain the financial statement risks to be taken into account in plannin

(b) Identify and explain the financial statement risks to be taken into account in planning the final audit.

(12 marks)

(b) Financial statement risksTutorial note: Note the timeframe. Financial statements for the year to 30 June 2006 are draft. Certain misstatementsmay therefore exist due to year-end procedures not yet having taken place.Revenue/(Receivables)■ Revenue has