QUESTION $1(25$ Marks$)$

$1\mathrm{.}1.$ Apart from the requirement by law for a company to have an audit, identify the ways in which entities

benefits from an investment in an audit?

$(7$ marks$)$

$1\mathrm{.}2.$ Describe the objectives of undertaking an audit? $(5$ marks$)$

$1\mathrm{.}3.$ Briefly describe the five $(5)$ types of auditors? $(10$ marks$)$

$1\mathrm{.}4.$ The term audit as defined in the Audit Profession Act $2005$ means?