Panasonic is a well$-$known company that aims to provide useful, high$-$quality technology solutions that positively impact customers' daily lives. Your CPA firm has received a request for proposal $($RFP$)$ from Panasonic, USA, to be its auditor for the current year, as the previous auditor declined to renew the engagement contract.

As the new client Partner, you make the decision to respond to the RFP$.$ Taking on Panasonic as a client would be viewed positively throughout the firm and could lead to more clients of similar stature. During your due diligence, you came across a fine the company paid to the Department of Justice $($DOJ$)$ and the Securities and Exchange Commission $($SEC$)$ in April $2018.$ The $$Foreign Corrupt Practices Act $($FCPA$)$ was mentioned in the government's claim against Panasonic. Panasonic has since paid the fine and has not been fined again. To decide whether to respond to the RFP or decline, use the Audit Risk Model and the Inherent Risk Assessment process discussed in the chapter. Your decision should be based on a factual analysis linked to the guidelines provided in the textbook. This is not a simple "yes" or $"$no$"$ answer.

Prepare a $3-5$ page paper addressing the question posed. This is a real case, and you can find relevant facts on the internet to include in your paper. $($Note: a prior auditor refusing to renew the audit contract is not a proper case fact and should not be used in your answer except to modify your response if relevant$).$