Green Peak Ltd., a leading producer of sustainable packaging material manufactures a range of products including corrugated boxes and paper…

Green Peak Ltd., a leading producer of sustainable packaging material manufactures a range of products including corrugated boxes and paper products. For the financial year 2025-26, LMN & Co., Chartered Accountants, were appointed as the statutory auditors of the company. The audit was led by CA Aman Verma. The engagement partner CA Verma ensures that the audit team follows the firm's policies, supervises audit work, and ensures compliance with professional standards. CA Verma obtained an understanding of the company's operations and documented audit plan activities including matters relevant to the overall audit strategy and audit programme. During the audit, the audit team performed procedures relating to property, plant and equipment, including examination of accounting records, supporting documents, fixed asset register, and depreciation calculations in the financial statements. Additionally the auditor carried out the following substantive analytical procedures to collect various other evidences- (i) The auditor compares the current year's administrative expenses with the expenses of the previous four years and analysed the fluctuations. (ii) He noticed, that the company pays sales commission at 4% of total sales. Based on total sales recorded during the year, the auditor estimates the expected commission and compares it with the commission expense recorded in the books. (iii) He compared the inventory turnover ratio of the current year with that of previous years. (iv) Using historical data of production volume and power consumption, the auditor develops a statistical model to estimate expected electricity expenses for the current year. Based on the above facts, answer the following: (6 to 9)