QUESTION 1 QSV Enterprise is a small computer hardware specialist and has been trading for over five years. Wong, the owner of QSV Enterprise, asked Roslan & Partners, an audit firm, to conduct an audit of the company's record on an urgent basis. The audit of financial statements of the company is to be completed in one month's time and deliver to him for a loan application with SME Loan Malaysia. To convince Roslan& Partners to accept the offer, Wong agreed to pay Roslan & Partners a fixed fee plus a bonus if the loan is approved. The engagement partner immediately accepted the engagement and eventually realised that he had no staff available to conduct the audit. Therefore, Roslan & Partners decided to hire two accounting students to conduct the audit and spent several hours telling them what to do. During the briefing session, Roslan told the students not to review the internal control system, but instead to concentrate on proving the mathematical accuracy of the accounts and summarizing the data to support the company's financial statements. Required: a. Write about three categories of threats to professional independence (6 marks) b. Relate the meaning of professional competence and due care" of the MIA By-Laws to the above scenario. (6 marks) C. Explain three ethical issues that may arise in the above scenario. (8 marks) Total: 20 marks