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how would you go about answering number 1 ? Clothes-For-All (Pty) Lid is a company that sells clothing with a financial year end of December.

how would you go about answering number 1 ?

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Clothes-For-All (Pty) Lid is a company that sells clothing with a financial year end of December. The entity anticipates to increase revenue by 10% in the 2019 financial year from R50,000,000 in the 2018 financial year to R55,000,000. The total number of employees on 31 December 2018 was 65. During 2018, 5 employees resigned and 10 employees were hired. The company's shareholder is as follows: . 36% of the shares are owned by Mrs PEP 42% of the shares are owned by Mrs Sneakers 10% of the shares are owned by Mr Price (Pty) Ltd . 2% of the shares are owned by Socks (Pty) Ltd Mr Price (Pty) Ltd and Socks (Pty) Ltd each have 5 and 3 shareholders, respectively, all of whom are natural persons. Below are the liabilities of the entity: Description Amount Trade payables (to non-related companies) at the beginning of the |R3,000,000 2018 financial year Trade payables (to non-related companies) at the end of the 2018 |R4,000,000 financial year Loan owing to Mr Cavella (Chief Executive Officer of Clothes-For- R2,000,000 All (Pty) Ltd) Loan owing to Standard Bank R1,000,000 Loan owing to Mrs Sneakers R5,000,000 The financial statements were compiled by Book-Keep-It (Pty) Ltd. This company is owned by the former Chief Financial Officer of Clothes-For-Me (Pty) Ltd who resigned in the 2013 financial year to start his company. REQUIRED: 1. You are required to calculate the public interest score for Clothes-For-Me (Pty) Ltd at 31 December 2018. (12) 2. Based on the public interest score calculated above, identify what type of assurance is required for this entity and justify your answer (2)

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