Toshiba, a 140-year-old pillar of Japan Inc, is caught up in the country's biggest accounting scandal since 2011. In 2011, Olympus Corp was embroiled in a scandal. In July 2015, Toshiba Corp president Hisao Tanaka and his two predecessors quit after investigators found that the company inflated earnings by at least $1.2 billion during the period 2009-2014.

i.Refer to above Toshiba case what do you think about the importance of audit in certain situation? Also, explain why audits are demanded by society under such condition.

ii.Importance of Professional Skepticism in auditing process refer to above Toshiba case.