(1) (15 Points) Chapter 4 Professional Ethics Answer the following questions: Discuss why do individuals act unethically? Why is independence so essential for external auditors? Discuss Describe an audit committee and discuss how an audit committee can help an auditor be more independent. Distinguish between independence in appearance and independence of mind. Discuss and give examples. Explain how the followings are likely to affect auditor's independence Financial interest in the client Consulting and Bookkeeping Unpaid fees