John Wick's company, Wick's Dog Enterprises, is a successful dog grooming business with couple of stores across USA. John Wick would like to expand to new locations, but the investors has asked for an independent audit before they will provide financing. John Wick hires his father, Peter Wick, to perform the audit and issue an opinion. Peter has experience in auditing non-profit organizations, and he decides to perform the audit the same way as his other audits. Peter is not familiar with testing of internal controls, so he decides that he can skip testing the internal controls of the company. After completing all the other steps of the audit process, Peter issues an unqualified opinion indicating that he is certain that the company's financial statements contain no material misstatements and are free from error. Required: a) What principles of professional skepticism and independence should auditors adhere to when conducting audits for entities they have personal or familial relationships with?(10 marks) b) Discuss the potential implications of omitting the testing of internal controls in an audit. How might this decision affect the overall reliability of the audit opinion, and what risk could arise due to the lack of testing of internal controls? (10 marks)