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provide a threats or safeguard of this Casestudy Case Study 5: Question: You have recently been promoted as a partner in the assurance department of
provide a threats or safeguard of this Casestudy
Case Study 5: Question: You have recently been promoted as a partner in the assurance department of a firm of chartered accountants. Your portfolio of clients includes Shah Motors (Pvt.) Limited (SML), a leading car dealer. Qaiser, a senior manager assurance in your firm, has been auditing SML for the past 7 years. While updating you about SML, Qaiser informed about the following. (1) On the request of an audit team member, CFO of SML has helped the team member's brother in securing early delivery of a vehicle ordered by him on preferential basis. (ii) SML has hired a new Head of Marketing. His son Amjad is expected to be included as a junior team member in SML's audit team. Required: (ICAP, CAF 08 Level - Autumn 2018, Q#5a) Discuss the possible threats which may arise, their significance and the safeguards required to mitigate those threatsStep by Step Solution
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