(Maximum 200 Words, May include a little table of max 8 rows)

Scenario:

You are Mark Ouse, an audit senior with the firm Pull, Lift, Tug & Co. You are planning the financial report audit of Nester Ltd, a manufacturer of confectionery. The following issues have arisen-. Prior to the appointment of Pull as the auditor of Nester Ltd for the financial year ended 30 June 2020 some preliminary analysis identified the following information.

1) Staff of Nester are entitled to visit the company shop where defective confectionery products or 'seconds' that do not make it past the company's quality control processes are available for purchase at significant discount to normal retail prices. Nester has in the past invited the audit team to enjoy this benefit while it is attending the company during its audit visit.

2) You are aware that Nester's Finance Director, Barbara Polo, plays on the same softball team as Eloise Lift (an audit partner) and recently spent a week with the team on a tour of Vanuatu.

3) Pull was previously engaged by Nester Ltd to value its intellectual property. The consolidated statement of financial position as at 30 June 2020 includes intangible assets of $55 million, which were val Pull on 1st April 2020.The intangibles are considered material to Nester Ltd

PART A) For the first scenario identify: One professional threat to Pull's Independence and explain what action Pull should take to eliminate this potential threat. (5 marks) - (as a guide, your answer should be minimum approximately 6 rows to adequately address the question)

PART B) For the Second scenario Identify: One professional threat to Pull's Independence and explain what action Pull should take to eliminate this potential threat. (5 marks) - (as a guide, your answer should be minimum approximately 6 rows to adequately address the question)

PART C) For the Third scenario Identify: One professional threat to Pull's Independence and explain what action Pull should take to eliminate this potential threat. (5 marks)

(as a guide, your answer should be minimum approximately 3 rows to adequately address the question)