KPMG is the auditing firm for Tech Corporation, a listed computer software company. The audit team assigned to perform the audit includes an Audit Manager, a Senior Auditor and three Audit Assistants. No member of the team has updated their knowledge or experience on IT or the business processes of an IT company. Based on the given scenario answer the following question numbers 29, 30 and 31:

Which of the following ethical principles will be LEAST affected by the given situation?

a.

Objectivity, Confidentiality, Integrity

b.

Professional Behavior and Professional Competence

c.

Confidentiality, Professional Competence, Integrity

d.

None of the choices is correct

What is the appropriate course of action in the given situation?

a.

KPMG should complete the audit engagement with the current audit team

b.

KPMG should file a complaint against Tech Corporation

c.

KPMG should file for bankruptcy and close their auditing firm

d.

KPMG should place team members who has updated knowledge and skills in IT business processes

Which of the following parties will NOT be affected in the given situation?

a.

The Customers of Tech Corporation

b.

The Audit Team

c.

The Management of Tech Corporation

d.

The Auditing Firm