Question 7 Anak Mami Berhad owns a factory which sits on freehold land. The factory produces metal works for hawker stalls since Merdeka. The factory was revalued ten years ago and is being depreciated over 50 years from that value. The company made one nasi kandar stall lines many years ago and today the metal used is toxic. Anak Mami expects a nasi kandar stall owner in Sungai Petani will take legal action against them. No mention was made in the latest financial statement of this legal action. Required (a) Describe the assertions relevant to these matters. [15 marks) (b) Describe the kind of evidence might be collected by the auditor. [15 marks]