can you help me with homework, it is for the auditing, risk assurance class
Write answers to each of the five ( 5 ) situations described below addressing the required criteria ( i.e . I & 2 ) in each independent case . You may use a tabulated format if helpful having " Threats " , " Safeguards " and " Objective Assessment " as column headings ." Stephen Taylor has been appointed as a junior auditor of Simnett Chartered Accountants ( SCA ) . One of his first tasks is to review the firm's audit clients to ensure that independence requirements of APES 1 10 ( Code of Ethics for Professional Accountants ) are being met . His review has revealed the following* ( a ) SCA has been providing it's audit client Kaplan Limited ( Kaplan ) with non- audit services for a number of years . Andrew Ferguson is SCA's partner in charge for providing non- audit services to Kaplan . While having a conversation with Andrew , Stephen becomes aware that Andrew's wife Michelle Ferguson is planning to purchase a significant number of shares in Kaplan ." ( b ) Duxton Motels Limited ( DML ) is a chain of ten motels operating in Western Australia and is one of the oldest companies listed on the Australian Securities Exchange . SCA performs audit work for DML . This is the second year that SCA's total fee from DML will comprise of around 20% of SCA's total fee revenue from all clients . ( C ) Super Tech Limited ( STIL ) , an Australian IT company , has not paid any of its audit fees* for the last three years to SCA , citing cash flow problems . This has resulted in a significant amount of overdue audit fees for SCA . The audit partner in charge , Grant Richardson has been reluctant to push the issue further , as STL is a high profile client who he wishes to retain . ( d ) Gregory Taylor , an audit senior with SICA is very excited to be a part of the audit team of Jumbo Metals Limited ( JML ) . Gregory feels that he will be a valuable asset to the audit team as his wife , Christina Taylor , is J ML's financial controller who is responsible for the preparation of J ML's financial report . ( e ) SCA has recently accepted an engagement to provide audit services to Yummy Donuts* Limited . Robert Durand is an audit partner at SCA . Robert's wife Rebecca Durand currently works as a financial accountant at Yummy Donuts . Robert is not on the audit team of Yummy Donuts . 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 .* ( 5 marks ) 2. Provide an objective assessment of whether audit independence can be achieved ( 5 marks ) ( Total 10 Marks )
