Discussion Three situations have arisen with audit clients of your firm 1. Renato Casillo has acted as engagement partner on the audit of A company, a public company, for many years 2. Overdue fees from E Co, a private limited Co. have built up to include all bills submitted by your firm in the last twelve months 3. The partners and staff involved in the audit of W Co. a private limited liability co. have been invited to the co's annual summer social event, a dinner dance and weekend at an exclusive spa hotel. :: Required Using the conceptual framework of ethics and conduct, for each of the three situations explain: a) The nature if the threat faced by the audit firm, and b) The appropriate safeguards that should be put in place.

Discussion Three situations have arisen with audit clients of your firm 1. Renato Casillo has acted as engagement partner on the audit of A company, a public company, for many years 2. Overdue fees from E Co, a private limited Co. have built up to include all bills submitted by your firm in the last twelve months 3. The partners and staff involved in the audit of W Co. a private limited liability co. have been invited to the co's annual summer social event, a dinner dance and weekend at an exclusive spa hotel. iac!uliad * Using the conceptual framework of ethics and conduct, for each of the three situations explain: a) The nature if the threat faced by the audit firm, and b) The appropriate safeguards that should be put in place