5) Four Months after the audit firm of Dewey, Cheatem, & Howe issued an Unqualified opinion that the F/S of Crook Puppy Investments (CPI) Ltd (an investment form registered with ASIC) were True and Fair, the Australian Federal Police (AFP) raided the offices of CPI, found that CPI had been engaged in money laundering for two Bikie Gangs, seized CPIs resources as the proceeds of crime, and shut the firm down. Shortly there-after, CPI declared bankruptcy and was able to payout only 20 on the dollar of creditor claims. The creditors of CPI are planning to sue Dewey, Cheatem, & Howe. Required: a) Should the creditors sue under contract law or tort law? (Explain). b) What is a privity letter and how would your answer to question 5a change if Dewey, Cheatem, & Howe had issued one of the major creditors a privity letter? c) What matters must the creditors prove before their claim against Dewey, Cheatem, & Howe can succeed?