1 Compliance with the fundamental principles in IESBA's Code of ethics for Professional Accountants can be threatened in a number of ways. Required: a) Explain each of the five fundamental principles of IESBA's Code of Ethics for Professional Accountants. In order for public to have confidence in work perform by professional accountants it is essential to have a system regulation. Regulation can take the form of both ethical and statutory guidance. Required; b) State the five threats contained within IESBA's Code of Ethics for professional Accountants and for each threat list one example of circumstance that might create the threat. c) Explain the Auditor's ethical responsibilities with regards to client confidentiality and when they have obligatory responsibility to disclose client information on a voluntary responsibility to disclose client information. Question 2 ISA 320 Materiality in planning performing an Audit provides guidance on the concept of materiality in planning and performing an Audit. Required; a) Define materiality and explain how the level of materiality is assessed. b) ISA 230 Audit Documentation deals with the auditor's responsibility to prepare audit documentation for an audit of financial statements. Required; Explain three benefits of documenting audit work. c) ISA 260 Communication with Those in Charged with Governance deals with Auditor's responsibility to communicate with those in charged with governance in relation to an audit of financial statements. Required; Identify two specific responsibilities of those in charge with governance. Total-20 marks