Question 3 (20 marks) You are an audit partner with Nelson Lim & Associates. Your client Majestic Ltd has requested that you: (1) Check if Majestic has complied with the laws and regulations relating to environmental protection and provide a verbal(oral) report to the local environmental council. (ii) Prepare a report providing a written opinion addressed to management indicating whether the annual financial statements give a true and fair view in accordance with International Financial Reporting Standards. (iii) Prepare a report providing a written opinion addressed to a government department indicating whether Majestic has complied with the legal requirements of a government grant (iv) Identify new risks that arise from a changing business environment due to the global pandemic. a (v) Perform random visits to offices identified by the client to observe that the employees report to work on time. Required: (a) For each of the services (i) to (v) above, indicate if it is an assurance engagement. Explain your answers briefly. (12.5 marks) (b) Describe the FIVE (5) elements of an assurance engagement. (7.5 marks)