Expeditor's Audit team was invited to conduct the audit of Mango SAOG for the year 2017- 2018. The team had Mr. Khalid as the main auditor and Mr. Hussain the sub auditor. As a part of the audit process the financial statements of the company was analysed and had conflicting views as to the audit opinion to be issued on the situations. Mr Hussain felt that all situations can have an unqualified / a qualified opinion while Mr. Khalid had a different view on certain situations and had plans to provide an adverse /disclaimer opinion: The Financial statements showed profit before tax and total assets of RO. 50,000 and RO.200,000 respectively. a) Management is reluctant to provide for a loan RO 8000 unpaid by an employee who has left the organisation. The board is willing to provide a disclosure to the effect. b) The liability on an imported plant of RO83000 for which the forward exchange cover was not taken by the corporation was finally settled for RO 85000. c) The profit before tax would have been RO 80000 had the revenue recognition policy of the corporation was in accordance with the International Accounting Standards. d) The internal documents reveal that the contract with a major customer of the corporation is to expire in two years of time and as such the entity might have to face a difficult situation. e) Documentary evidence of the qualification of senior executives are not available in the related personal files. A total of RO 10000 is paid towards their salary. Question 5: (i) Analyse the following situations and identify the audit opinion to be issued in each case. (2.5 Marks) (ii) Justify your answer and indicate the team you support with reasons. (2.5 Marks)