Part B You are an audit manager of Pink Partners & Co {Pink} and are planning tlte audit of Golden Finance Co [Golden], a banking instinnion which provides a range offutancial services including loans. 1'l:'our rm has audited Golden for four years. and tile company's year-end is 3!) September 2015. At tlte end of August, Golden's nancial controller left and the new replacement is not due to start until approximately two months after the yeanend. The futance director, who is the sister- in-law ort'the audit engagement partner, has asked if a member oftiie audit team can be seconded to Golden thr three months to act as the temporaryr nancial controller. 1|II'ou are aware that a number ofthe audit team membem currently hank 1with Golden and two team members have signicant loans owing to the company. Pink's taxation department also provides services to Golden They have been approached by Golden to represent them in negotiations to resolve some outstanding issues with the taxation authorities, for which the fees quoted, are substantiaL The nance director has informed the audit engagement partner that when the audit is complete, she would like the whole team to attend an evening watching the national football team playr a match followed by a luxury meal. Required: Using le information above: {i} Ideulify and explain FIVE ethical threats which may affect ie independence of Pink Partners & Co's audit ofGoldeu Finance Co; and (ii) For each threat, explain how it might be reduced to nu acceptable leveL Note: The total marks will be split equally between each part