C. Nadea, Farith & Co. has completed the audit of Cemerlang Traders Berhad (CTB) on 31 March 2016. The audited financial statements for the year ended 31 December 2015 and auditor's report were issued and submitted to Securities Commissions on 7 April 2016. The following items of subsequent events are unrelated to each other: 1. Large account receivable balance from one of CTB's major customers, Chew Sdn. Bhd. was considered fully collectible as at 31 December 2015. However, on 5 May 2016, you discovered that the customer was declared bankrupt on 11 March 2016 2. On 14 March 2016, CTB has won a court case that had originated in April 2015. CTB had provided for the full amount of the potential liability in relation to the claim made by the other party. 3. The auditor has discovered an uninsured lawsuit against CTB on 15 March 2016. The lawsuit had originated in 12 November 2015. In the opinion of legal counsel there is a possibility of significant loss but the amount is unknown. 4. On 29 February 2016, CTB has acquired 40% equity interest in Haiza Sdn. Bhd. at a consideration of RM3 million, which has been paid on 2 April 2016. Required: In each of the situations (1) to (4) above, identify from the following the appropriate action: (a) No action required; (b) Adjust the 31 December 2015 financial statements; (c) Disclose the information in notes to the accounts in 31 December 2015 financial statements; Request the clients to recall the 31 December 2015 financial statements for revision. Justify your answers. (12 marks) (d)