QUESTION 2 (5 Marks) You are an audit manager at Johns and Johns Chartered Accountants (Johns and Johns). The following situations have arisen in relation to two of your audit clients: 1. One of your clients, Rain Limited, is an unlisted medium-sized box manufacturer. The year end trial balance has been prepared however, the financial controller has been off sick and has been unable to prepare the financial statements. The Directors have asked if you will prepare the year end financial statements. 2. Johns and Johns has been approached by a new client, Hadley Constructions Limited (Hadley Constructions), to conduct its audit for the coming year. As part of your client acceptance procedures, you identify that the son of one of the partners at Johns and Johns has a substantial shareholding in Civil Constructions. Required For each of the two (2) situations, identify and describe the potential threats to independence