How to write audit risk.

Hi. Sorry for asking such basic question, but i’m a little bit confuse here.

The requirement for audit risks question often stated that “identify and describe the audit risks and explain the auditor’s response”

As for identification, just write what we found from the case study.
For describe, how should we describe? By describing how the items identified could go wrong in the FS or by describing the appropriate accounting treatment?
And for response, what audit procedure should the auditor’s perform in order to obtain evidence that the item is accounted properly in the FS.

For example,
Identify and explain:
The company issue shares at a premium. The issuance of share needs to be allocated
correctly between share capital and share premium. – suggested answer (describing the appropriate accounting treatment)

Well, my answer will be
Identify and explain:
The company issue shares at a premium. There’s a risk that the company did not split the proceeds from the shares issued between the share capital and share premium.

My question is, is my answer acceptable? because everytime I read the requirement, it sounds like it is asking “why the item identified could be a risk”. although the suggested solution always explain the correct accounting treatment.