The key process cycle I chose for Loblaws Inc is the Sales and Collections Cycle. I believe the company's high sales volume and many different accounts with small balances ranging from pennies to millions increase the risk of engagement when planning and conducting an audit. The accounts included in this cycle are: 1. Gross Sales = Cash Sales + Account Sales → Account Balance $32,371,000,0002. Closing balance of customer accounts = Opening balance + sales on account - collections - returns on sales and provisions - uncollectible account charge Account balance = 618,000,000; Credit card receivables balance = 2,538,000,0003. Cash at bank (cash sales + collections-discounts)Cash balance = 515,000,000; Cash and cash equivalents balance = 2,260,000,0004. Return on sales and allocations → in the detailed income statement of Loblaws Inc, this account is not present. I assume that the return on sales and discounts are very insignificant for the company or they are already integrated into the amount of revenue (gross sales – returns)5. Bad debt balance = (...