1. An audit was scheduled of the accounting department during 2020. While conducting the engagement, it was ascertained that the chief financial officer (CFO) who heads the accounting and finance department is the wife of Mr. Gavin James who up to the date of the audit, failed to disclose the relationship with the entity's CFO. 2. Mrs. Marie Lambert is a senior internal audit manager of Casper Enterprise Limited. While conducting an audit of the accounting and finance department, Marie stumbled upon information, which depicted that the company has made a formal offer to acquire Krypton Enterprise Limited, which is a major competitor of Casper Enterprise. Casper currently controls 45% of the market share, 50% is controlled by Krypton, while the remainder is fragmented. On receiving the information, Marie told her husband who is an investment banker at KWP Investments. A week after her husband bought the stock of Casper Enterprise, which doubled a month after the entity acquired Krypton Enterprise Limited. 3. Mr. Renard Lewin is a senior auditor in the entity's internal audit department. He was scheduled to conduct an audit of the payroll department. However, Renard had no prior knowledge of payroll and he did not seek to acquire any additional knowledge of payroll while conducting the audit. Mr. Lewin knew that he had no knowledge of payroll computation or the payroll department, yet still he failed to obtain the required assistance from other during the internal audit department. Due to the fact that he did not want to make this known to his manager, he went ahead and gave a favourable opinion on the payroll for the period 2016-2020 without conducting adequate due diligence. 4. Sam Cooke has been employed to the internal audit department as manager for the past three years. However, during the year 2020, she was transferred to the accounting department as an accounting manager. She currently reports to Mrs. Audene Brooks who is the current financial controller. Mrs. Brooks also reports to Mrs. Carlene James who is the Chief Financial Officer. a. In each of the independent situations above indicate the ethical principles that are breached where necessary. | 12 marks b. Recommend ways to alleviate the possibility of breached to the ethical issues identified above where necessary. [10 marks] c. Briefly discuss the three main types of internal audits that Mr. James could offer to Casper Enterprise Limited. [ 6 marks]