This question is from auditing and assurance

the sale, what conclusion would the auditor draw from this evidence? What other evidence could the auditor consider before concluding that the prevent control has failed. Use the editor to formet your answer Question 4 8 Points You are the audit partner reviewing the audit work papers for the Neon Mining Led (NML) for the year ended 30 june 2020. Today is 18 July 2020, and the audit report is due to be signed in three weeks' time. During your review you note that the fixed-term borrowings of NML totaling $75 million are approaching maturity and NML does not seem to have ren ated manding. You are aware, from your experience with other clients, that banks are reluctant to extend the current market. The financing of NML was historically managed by the D's treasurer w and has not been replaced. for nine months, has advised you that he has been busy renegotiating some ed cash on delivery for all orders rather than extending the normal credit terms. occurred in the company's cafeteria last week was not adequately covered by insurance. injured in the fire, but the cafeteria was so badly damaged it had to be dosed. While discussing firm, they reveal that the company is unlikely to have adequate professional indemnity insurance to meet ch man's of several malpractice cases that have been brought against the company in the last 1 2 months Required (a) Are there any going concern issues for NML? Explain. (4 marks) (b) How will you recommend the issue be handled in the financial report and the audit report? (4 marks) Use the editor to format your