Please answer the below:

Question 1 What are the main limitations of an external {financial statement] audit'?r Question 1 Discuss the different phases in an overview of the audit process? Question 3 0n 31st March 201i]. Black and Black completed the audit of E-Wine Ptyr Ltd for the vear ended 31 December 2009. EWine is a wine store that operates solely on the internet. On 15th May 21)\"), Tom Black (Audit Partner] received a phone call from the nancial controller of EWine, Ms. Chong who was very angry. lvls. Chong said that their accounts receivable clerk suddenly resigned a month ago. This sudden departure raised suspicions and after an investigation of the accounting records. it was discovered that $2 was missing. Subsequently. the Board met and decided Black and Black was almost entirely to blame. As a result, Ms. Chong, said the Board had decided to dismiss Black and Black as auditors, effective immediately. Black and Black would receive written conrmation in the next week and legal action would probably follow. Required: 1. Explain whether E-Wine has taken the proper action to remove an auditor. Consider the provision of Fiji Companies Act. 2. Explain why restrictions are placed in mmoving auditors. Question 4 For each of the following independent situations, determine the type of opinion that will most likely be issued by the firm auditing the financial statements of a Fijian company. 1. The client will not allow the auditor to view the minutes for the entire year under audit and beyond. 2. The auditor finds that the firm is not independent of the client on the last day of fieldwork. 3. The client declines to include a statement of cash flow in the financial statements. 4. The client fails to record an immaterial amount of insurance paid in advance as an asset. 5. The client does not record impairment of goodwill and will not depreciate property and equipment. Both are considered very material. Question 5 A CPA has completed an audit of the financial statements of a long-haul trucking company for the year ended December 31, 2014. Prior to 2014, the company depreciated its trucks over 10 years. However, during 2014, the company determined that a more realistic estimated life for its trucks was 8 years and computed the 2014 depreciation on the basis of the revised estimate. The CPA is satisfied that the 8-year estimate is reasonable, but the change will have a material effect on the comparability of the company's financial statements. The company adequately disclosed the change in estimated useful lives of its trucks and the effect of the change on 2014 income in a note to the financial statements. Required: Which type of audit report would you suggest be issued on the 2014 financial statements and why