IF (a) At a recently concluded seminar the following were extracted from the presentation of a financial analyst, Audited financial statements represents the records of stewardship of a company's activities and the financial position of a company at the end of a period. The financial report has contributions from the key stakeholders of the organisation who are required to objectively perform their duties very well. As a follow up on this, the users of the financial statements should be able to use the report confidently while also supporting good cooperate governance. The financial report is prepared relying on the estimates, judgement, assumptions, and reliable evidence of the Management of the organisation. It represents a useful tool for decision making. As a newly qualified accountant (b) You have been invited to make a contribution in support of the statement of the analyst: at the seminar a You are required to discuss: (i) Parties involved in audit assurance process, stating their duties and rights. How to recognise reliable evidence in an audit and assurance engagement