Simpsons & Co is the auditor of SwiftTech Co, a listed computer software company. The audit team comprises an engagement partner, a recently appointed audit manager, an audit senior and a number of audit assistants. The audit engagement partner has only been appointed this year due to the rotation of the previous partner who had been involved in the audit for seven years. Only the audit senior has experience of auditing a company in this specialised industry.

Required:

In relation to the composition of the current audit team:

(i)Identify and explain the fundamental principle which is at risk and

(ii)Provides an appropriate safeguard.