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As indicated in the case, one of the partners ni another firm of the 'Allstars' network has invested in a venture capital fund that owns

As indicated in the case, one of the partners ni another firm of the 'Allstars' network has invested in a venture capital fund that owns shares of 4-Airlines Equity. Does this fact violate the auditor's independence? Discuss why or why not, and consider theconsequences.Your team has to make a recommendation to the managing partner as to whether Europestars should accept the audit engagement of the 4-Airlines Company. What would you recommend? Include consideration of reasons both for and against acceptance and use both financial and non-financial information to justify your recommendation.

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