answers to each of the five (5) situations described below addressing the required criteria (i.e. 1 & 2) in each independent case. You may use a tabulated format if helpful having "Threats", "Safeguards" and "Objective Assessment" as column headings. Andrew Ferguson CPA has been appointed as a junior auditor of Accounting Solutions Limited (ASL).

One of his first tasks is to review the firm's audit clients to ensure that independence requirements of APES 110 (Code of Ethics for Professional Accountants) are being met. His review has revealed the following:

(a) ASL has recently been approached by West Mining Limited (WML) to conduct its audit to which ASL has agreed. Ric Flair is one of the audit partners at ASL. Ric's wife Michelle has recently received shares in WML as a gift. Being aware of the situation, ASL will not be assigning Ric to the audit team of WML.

(b) ASL has recently been approached by Bluechip Group Limited (BGL) to conduct its audit to which ASL has agreed. The accountant at BGL, Stephanie Gellar is the wife of David Gellar CA, who is an audit partner at ASL. David put in a request to lead the BGL audit. David believes that he can get the BGL audit completed efficiently and effectively since he can get all the necessary information he needs from his wife. However, ASL will not be assigning David to the audit team of BGL.

(c) ASL has been providing its audit client Tech Limited (TL) with non-audit services for a number of years. Sheldon Cooper is ASL's partner in charge for providing non-audit services to TL. While having a conversation with Sheldon, Andrew becomes aware that Sheldon's wife Amy is planning to purchase a significant number of shares in TL.

(d) Super Steel Limited (SSL) has been a long-standing audit client of ASL and is one of the oldest companies listed on the Australian Securities Exchange (ASX). Two of the five senior managers have suddenly left SSL due to health complications. SSL has recently requested help from ASL in setting its strategic direction, hiring employees and managing its investments. SSL has also recently requested a valuation from ASL with respect to its land & buildings as well as property plant & equipment.

(e) Mark Jackson CA is an audit senior at ASL. Mark has been currently assigned to the audit of West Stationery Limited (WSL). Mark is planning to enter a business venture (Fastspeed Auto) with the CFO of WSL, whereby they are both equal partners in a business retailing luxury motor vehicles. Mark has informed you that this will not be a problem since the two entities (WSL and Fastspeed Auto) are in different non-competing industries. ASL has also recently purchased some of its stationery supplies from WSL.

Required: For each of the independent situations above, and using the conceptual framework in APES 110 (Code of Ethics for Professional Accountants), answer the following questions:

1. Identify potential threat(s) to independence & recommend safeguards (if any) to reduce the independence threat(s) identified.

2. Provide an objective assessment of whether audit independence can be achieved.

note: Use "Threats", "Safeguards" and "Objective Assessment" as column headings