Question 4: Non-current liabilities and owners' equity 9.29 NIEDIUM You are the audit senior at Chan & Associates and have been assigned to the audit of shareholders' equity of Galaxy Ltd (Galaxy), a large publicly listed company. Galaxy uses the services of an independent share registry ofce to maintain detailed records of their shareholders. As part of your preliminary review you have discovered the following information: 0 One month before year end, Galaxy made a large share issue, which was 80 per cent subscribed. 0 Prior to the new share issue, Galaxy declared a dividend to its existing shareholders. This dividend remains unpaid at year end. REQUIRED Explain the audit procedures that you would undertake in order to obtain sufcient appropriate audit evidence in respect of the share issue and dividend payment. L0 9.8