QUESTION 4 ( 10 Marks) please provide me a genuine answer. The following identifies issues that can have an impact for auditors when carrying out their audits: (i) You are Adrina Strong , one of the partners in the Accounting firm Barder,Strong ,Fleece and Co.You have a large client ,Launch Ltd , for which your firm has carried out a range of tax,consultancy, audit and other services .The firm now obtains significant fee income, above 25% of its total for the past three years ,from Launch Ltd . An amount of $45,000 has still to be paid for work carried out earlier in the year for consultancy advice to Launch about internal controls around its new purchasing system introduced earlier in the year. The planning work for the year end audit is about to commence and it will be the eighth year you have carried out the audit . The relationship between Launch and the audit team is excellent and the same audit staff have been happy to carry out the audit for the last six years , which has been welcomed by Launchs accounting staff who feels this allows the audit to be done quickly and efficiently . Launch is very happy with the quality of the audit staff and in fact has recently offered the role of Financial Controller to the audit team senior ,Sue Driver . Sue has accepted and will be starting the new role before the year end audit visit. Sue has decided to take the audit team out for dinner to say goodbye and thank them for their hard work over the last seven years. Required: Identify the risks and threats to independence from the above and suggest how these threats may be mitigated (ii) Nora Peak has been working at Dave Young and Associates for the past three years .Nora and her husband ,Tom , are both very interested in environmental issues and follow closely environmental issues in the media . During an audit of a pharmaceutical company Pharma Ltd for the year ended 30 June 2019 ,Nora notices that it has changed its contractor for waste management to Big Dumper Ltd .Nora has read on the internet that Big Dumper is being investigated by the local council for the level of toxic waste at one of its sites . The waste management contract between the Big Dumper and Pharma Ltd does not specify damages and has not been signed by the Big Dumper ,who are the cheapest waste removalist for chemicals and other materials . The contract is for three years and is for a substantial amount and Nora is concerned about the implications .The local council is very strict in its inspections for toxic waste dumping and imposes heavy fines if any of the waste is found to be improperly dumped . Nora raises the issue with Dave Young , the partner in charge of the audit .This is the reality Nora Dave says.As far as I am concerned we are responsible for the correctness of the financial report, nothing else . Besides you do not have the qualifications to judge whether a company is being a good corporate citizen or not . We are not concerned with the business management Nora is told to mind her audit without raising any fuss . Required: Explain the ethical issues here and a course of action for Nora .