5 10 points SAVE ANSWER Barry Neville is the engagement partner for the financial report audit of Pippin Ltd, a family owned winery in Central NSW, for the year ended 30 June 2022. The following material events or transactions have come to Barry's attention before he is scheduled to issue his audit report on 28 August 2022: 1. On 3 July, Pippin Ltd received a shipment of raw materials from Bangkok. The materials had been ordered in March 2022 and shipped as FOB shipping point in June 2022. 2. On 5 July, Red Pty Ltd, a major customer of Pippin Ltd, was placed into liquidation after a period of uncertainty. Red Pty Ltd had confirmed the balance owed to Pippin Ltd as at balance date. Therefore, management of Pippin Ltd disclosed the full amount of Red Pty Ltd.'s accounts receivable in the 30 June 2022 financial report. 3. On 15 July, Pippin Ltd signed a new contract to supply wine to Wine Taster, a major new wine store that had set up operations in northern Queensland. The contract was similar in nature to other contracts previously negotiated with other wine stores. 4. Pippin Ltd has reached an agreement to sell its major subsidiary, Cleanskins Pty Ltd, to a rival wine company. This agreement was finalised the day before the financial report was to be signed, and the sale is to take place a month after the audit report is to be signed. For each of the events described above: a. Indicate whether the auditor should: i. adjust the financial report. ii. disclose the matter in the notes to the financial report. iii. do nothing. (3 marks) b. Justify your response for your action in a. (4 marks) c. Discuss one (1) audit procedure that would have identified the issue. (3 marks) 3. 4. 1. 2. disclose the matter in the notes to the financial report. ill do nothing (3 marks) b. Justify your response for your action in a. (4 marks) c. Discuss one (1) audit procedure that would have identified the issue. (3 marks) In the answer box below, write the letter and your answer. e.g. a. Your answer Consider using the following table format to provide your answers: Event Action Justification Procedure To create a table in your answer, click on the table icon in the edit menu bar. If the second row of icons is not present click on the 3 de *** at the end of the first row to open the next row of icons. A Omusinstaller....pkg ^ I. #