Question 2. Halmtorvet, a Copenhagen, Denmark, company that manufactures security devices, has contacted Christian Jespersen, Statautoriseret Revisor, to submit a proposal to do a financial statement audit. Halmtorvet was a bit taken aback when they saw the cost of the financial statement audit, even though the fees were about average for an audit of a company Halmtorvets size. Halmtorvets board of directors determined that the company could not afford to pay that price. 1. Discuss the alternatives to having a financial statement audit. 2. What should Halmtorvet consider when choosing the assurance service?