The audit firm of Abernethy and Chapman is located in the central portion of Virginia. This partnership bem operations in 1969 and now employs 125 accountants out of a main office in Richmond and three branches in nearby Virginia cities. The Richmond office has 87 professionals 10 partners, 14 managers, 21 senior and 42 soll auditors Eleven members of this group concentrate to consultation while another seven offer a variety of consulting services to the firm's dients The others spend a majority of their time performing audies and related activities. During buy periods, individuals occasionally have to move from one area of the form to her. Eighteen additional employees comprise the secretaria and clerical staff of the Richmond office In hiring professions, the firm considers only college graduates with an accounting and requires that each employeest for the CPA excom within one year of employment. Once employed, all accountants in the form must complete o 40 hours per you of continuing education Promotions within the firm are guided by seniory and technical competence. For example for all auditor to the promoted to senior auditor, he or she must have been with the femast two years have passed the CPA exam and must have demonstrated outstanding competence ob performance DeAnna Matot, a partner in the Richmond office, monitors the quality control Standards and the employee policies of the firm One of Ms. Malo's responsibilities to conduct training wars for new profesorogarding the policies of reform Under these policies, employees must several finansies to audit die Another of Ms. Malott's duties is to assign personnel to the various dit engagements of the firm in making these moments, the consider the employee's experience with the clients business as well as his or her technical training for audit engagements firm policy requires the ansignment of a consulting partner, as well as a partner-in-charge of the engagement. The partner--charge of the threads the engagement team, while the Consulting partner advises and reviews the final work of the team The audit engagement team consists of a partner in charge manager, a senior auditor and one or more start auditors. The partner-in-charge of the engagement has the definitive responsibility for decision made during met een though he or she does not normally carry out the major activities of the audit The manager senior auditor, and staff auditors perform the majority of the procedures ACCT 315 F21 required by an aude. The assignment of an engagement as well as a consulting partner is to ensure not only that audits are propriately supervised but also completo objectivity and competence in conductingeachadh Abemothy and Chapman safem, and the Richmond office has experienced considerable growth over the past five years. The partners believe that a good marketing regy and a continuing emphasis on high quality anding and counting services has generated the increase in revenues fotod over audit engagements with tax services providing another 25% of the total Remaining revenues are generated by attestation functions other than audits le reviews), accounting and bookkeeping services de compilations), and conting services. The partner agree that assurance services restation services including the de function and consulting services offer the greatest potential for expanding them income and have constantly stressed the growth of these service Al present. Abernethy and Charpen have a number of targe clients in the Richmond was a small hotel chain, a group of future stores, seves targe car dealerships and three of the local banks. Recently, the firm decided to seek adonal clients. Therefore, within the last 18 months, a series of advertisements has been published in local newspapers several prominent Virginia periodicals. In addition amonyesente describing current cousing and taxation changes is distributed to clients and local business leaders. This marketing strategy was created by a Richmond advertising agency and has stressed the theme "We Are Here to Help Your Business. The entire campaign cost the firm approximately $70,000 and has just recently begun to generate additional terms Bungo Answer all of the following questions in your final report. Answers MUST be clear with full discussions and explanations 1- What are the main duties of the auditor in charge in the Abernethy & Chapman (A&C) audit firm? 2- What is the purpose of having both a partner in charge and a consulting partner on each engagement