QUESTION 7 (6 MARKS) For the following scenario indicate if there is a threat to independence, If so, state the threat and a possible safeguard. (a) John Schmidt, CPA, CA, is unaware that his audit client, Franks Spa and Pool Co, makes up 20% of John Schmidt firms revenues, (b) Frank Fargo has three review engagements. One of the review engagements is done for Sangha Meatshop Ltd., which is 80% owned by his father-in-law, Sanchez Sangha. The remaining 20% of the Meatshop is owned by Sanchez's four children