Instructions “ PLEASE READ THEM CAREFULLY 
· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
· Assignments submitted through email will not be accepted.
· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
· Students must mention question number clearly in their answer.
· Late submission will NOT be accepted.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. 
· All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
· Submissions without this cover page will NOT be accepted. 
 (Marks 5)
Q1. Discuss the inherent risk assessment of the following items and explain why the auditor asses these inherent risks as high or low: 
– Inherent Risk Assessment “ Prepaid Expenses 
– Inherent Risk Assessment “ Intangible Assets 
Q2. As an auditor of manufacturing company in KSA, explain what the auditor should do during the observation of the physical inventory count. 
Q3. Discuss the theories of ethical behavior.