i. The audit manager in charge of the audit assignment of Zaaku and Co holds 1,000 1 ordinary shares in the company (total shares in issue - 100,000). The audit partner holds no shares. ii. The audit fee receivable from Kunsong Co, a private company is 100,000. The total fee income of the audit firm is700,000 iii. The audit senior in charge of the audit of Sonzele Bank Co has a personal loan from the bank of2,000 on which she is currently paying 13% interest. Average lending rates for personal loans is 27%. iv. The audit partner is responsible for two audit assignments, Barry Co and Lean Co.Barry Co has recently tendered for a contract with Lean Co for the supply of material quantities of goods over a number of years. Lean Co has asked the audit partner to advise on the matter. Required:

Comment on the situations in the context of the independence of the auditor, showing clearly the principles involved.