4. You are the senior manager in Glendale & Co, a firm of Chartered Accountants. You are responsible for the review of quality and ethical matters which arise with the firm's client. During recent investigations, a number of matters were identified. You are required to identify the ethical and professional issues and recommend any actions which should be taken by Glendale Co in respect of the following clients. Tubs Co. Tubs Co is a small company with a revenue of 7.5 million, and as such not required by law to have an audit. Your firm has provided a range of non-audit services to Tub Co including bookkeeping, payroll and tax computation and advice. The company recently obtained an offer for a significant amount finance to help it grow. The management has ambitious plans for growth for Tub Co which they believe will result in revenue doubling within one year and then continuing to grow at a similar rate for the next five years. In order to secure the funding, the directors have decided to have their financial statements audited and have asked if Glendale & Co will become the company's auditors as well as continuing to provide the existing