Question 1 (4 marks) The following information describes some audit engagements: 1. An audit of a private company in Egypt with no public equity or debt. 2. An audit of an Italian private company with public debt in Italy. 3. An audit of a Hong Kong stock broker registered with the Hong Kong Stock Exchange. 4. An audit of Sony Electronics, a Japanese company that is also listed in the United States and whose financial statements will be filed with the SEC. 5. An audit of the American Red Cross. 6. An audit of a British private company for acquiring a loan from a publicly traded bank in the United Kingdom. 7. An audit of a German multinational with businesses in 30 countries around the world. 8. An audit of a Singaporean public company that is a subsidiary of a Japanese company, to be used for reporting by the parent company in Japan. Required: For each audit engagement described above, indicate whether the engagement is likely to be conducted under international auditing standards or auditing standards of a specific country.