AP15.6 (LO 5) part of the audit team for Hexagon Industries, a discovered facts Mitch Jackson and Rosie Punter are arge manufacturing, private company client. The client's andedwork date on the unmodified report was February 28, Moderate s report will be released on March 9, 2023. The primary that Hexagon be audited each year as a con- main 2023; and the financial statements and auditor's report. Wiaht Hexagon lender for Hexagon Industries, First Union Bank, requires dition of borrowing funds. Today is March 5, 2023, and Mitch and Rosie on the Hexagon audit. She says to report to her office e are working on assembling the audit file for archiving. message through the firm's intranet from Elizabeth Morgan, Shortly before lunch, they receive an instant messagoffce imme the partner on development on the Hexagon audit. controller and human resource director were embezzling funds through suspects the fraud has been going on for several years. Elizabeth en we are headed to Hexagon for a meeting with the CEO and CFO at aiscovered that Hexaeh and Rosie that she received a call from Hexagon's CFO an hour ago. It an elaborate payroll fraud. The CFO says, "Eat a quick lunch, and th 1:00 p.m Required xplai n the auditor's responsibilities for events that arise after the date of the audit report. b. List the steps Elizabeth and her team should take regarding this situation. was discovered, what implication does that have for the client's internal controls? work auditors performed on internal controls and c. S ince fraud Evaluate the effect of the discovered fraud on the the substantive procedures pert ormed