estion $1$

a$)$ Company A$\text{'}$s main business is selling fruits & vegetables. In the year $2023,$ the fotal income from the sale of vegetables was R$1\mathrm{.}5$ million. In the same year, the company also sold its delivery motor vehicle for R$150000.$ Clearly indicate how company A will account for these two incomes. Provide reasons for your decision.

$(6)$

b$)$ Auditing of financial statements is a crucial part of financial reporting process.

Required

What exactly is the objective of the audit?

$(2)$

ii$.$ Give two reasons why audit proved to be ineffective in South Africa and other countries in the recent past.