You are the audit managers of Runne & Hyde, carrying out a final review of the audit files of your client Gabriella Enterprises Co. for the year ended 31 September 202X. The financial statements are expected to be approved in the Annual General Meeting, which is to be held on 29 November 202X. Today's date is 22 November 202X. You have been made aware of the following matters:
(i) On 14 October 202X, a material fraud was discovered by the bookkeeper. The Payables Ledger assistant had been diverting funds into a fictitious supplier bank account, set up by the employee, which had been occurring for the past six months. The employee was immediately dismissed, legal proceedings against them have been initiated and their final wages have been withheld as part reimbursement back to the company.

(ii) On 20 September 202X, a customer initiated legal proceedings against the company in relation to a breach of contract. On 29 September 202X, the company's legal advisers informed the directors that it was unlikely the company would be found liable; therefore no provision has been made in the financial statements, but disclosure as a contingent liability has been made. On 29 October 202X, the court found the company liable on a technicality and is now required to pay damages amounting to a material sum.
(iii) On 19 November 202X, a customer ceased trading due to financial difficulties owing £2,500. As the financial statements are needed for the board meeting on 22 November 202X, you have decided that because the amount is immaterial, no adjustment is required. The auditors have also confirmed that this amount is immaterial to the draft financial statements.

Required:
For each of the three events above, you are required to discuss whether the financial statements require amendment.