Threats to Independence [5 marks total 5 mini-scenarios @ 2 marks each] Maintaining independence is fundamental in the context of assurance services, including audits. Auditors must maintain "Independence in fact" as well as "Independence in appearance". There are five catagories of threats to an auditor's independence. For each of the following five mini-scenarios respond to the following: [A] Identify the type of threat to the auditor's independence based on the description, and [B] Explain why the situation presents the type of threat you have identified/why the situation is concern for the auditor's independence. SCENARIO: [2 marks - respond to [A] and [B] above for each scenario] The audit partner in charge of the annual financial statement audit of Omicron Inc. has been the audit partner for seven years. Threats to Independence [5 marks total 5 mini-scenarios @ 2 marks each] Maintaining independence is fundamental in the context of assurance services, including audits. Auditors must maintain "Independence in fact" as well as "Independence in appearance". There are five catagories of threats to an auditor's independence. For each of the following five mini-scenarios respond to the following: [A] Identify the type of threat to the auditor's independence based on the description, and [B] Explain why the situation presents the type of threat you have identified/why the situation is concern for the auditor's independence. SCENARIO: [2 marks - respond to [A] and [B] above for each scenario] The audit partner in charge of the annual financial statement audit of Omicron Inc. has been the audit partner for seven years.