Farisha Berhad (Farisha) has appointed MNO Associates as its external auditor since 2012. MNO provides both audit and taxation services to Farisha. Over the five-year period from 2015 to 2020, MNOs audit fee tripled. The audit fees paid by Farisha were twice as high as the audit fees paid by other companies to their auditors in the same industry. The tax consultation fees paid to MNO were also higher than the industry average. When someone informs the Chairman of the company on the accounting fraud that happened in the company, it was suspected that the external auditors allowed various accounting irregularities such as improper verification of cash and bank balances by accepting managements explanation verbally. Internal auditors were appointed from MNO but different departments also failed to enquire information from the management on the issue of the company taking a debt of RM200 million in the latest financial year when the company had RM4.4 billion of cash lying unused in its accounts. Later, it was discovered that the cash amount was faked and could be easily discovered if the internal auditors have enquired further on the issue. Using a case study technique, advise the Chairman of the company on the best course of action he should take. ( Total / Jumlah: 20 )