Write answers to each of the five (5) situations described below addressing the required criteria (i.e. 1 \\& 2) in each independent case. You may use a tabulated format if helpful having \"Threats\", \"Safeguards\" and \"Objective Assessment\" as column headings. Steven Cahan CPA has been appointed as a junior auditor of Brendan \\& Brendan Accounting Solutions (BBAS). One of his first tasks is to review the firm's audit clients to ensure that independence requirements of APES 110 (Code of Ethics for Professional Accountants) are being met. His review has revealed the following: (a) BBAS has recently been approached by Austin Ferries Limited (AFL) to conduct its audit to which BBAS has agreed. The accountant at AFL, Rachel Sheffield is the sister of Sylvester Sheffield CA, who is an audit partner at BBAS. Sylvester put in a request to lead the AFL audit. Sylvester believes that he can get the AFL audit completed efficiently and effectively since he can get all the necessary information he needs from his sister. However, BBAS will not be assigning Sylvester to the audit team of AFL. (b) BBAS has recently been approached by South Mining Limited (SML) to conduct its audit to which BBAS has agreed. Randy Orton is one of the audit partners at BBAS. Randy's daughter Sarah has recently received shares in SML as a gift. Sarah is a final year law student at a reputed university and is financially dependent on her parents. Being aware of the situation, BBAS will not be assigning Randy to the audit team of SML. (c) Broken Hill Limited (BHL) has been a long-standing audit client of BBAS and is one of the oldest companies listed on the Australian Securities Exchange (ASX). Three of the five senior managers have suddenly left BHL due to health complications. BHL has recently requested help from BBAS in setting its strategic direction, hiring employees and managing its investments. BHL has also recently requested a valuation from BBAS with respect to its land \\( \\& \\) buildings as well as property, plant \\( \\& \\) equipment. (d) BBAS has been providing its audit client Super Cheap Limited (SCL) with non-audit services for a number of years. Raymond Smith is BBAS's partner in charge for providing non-audit services to SCL. While having a conversation with Raymond, Stephen becomes aware that Raymond's wife Christina is planning to purchase a significant number of shares in SCL. Raymond informs Steven that this should not be a problem as he is involved with providing only non-audit services to the client. (e) Norman Jones CA is an audit senior at BBAS. Norman has been currently assigned to the audit of Premier Cruises Limited (PCL). Norman is planning to enter a business venture (Luxury Auto) with the CFO of PCL, whereby they are both equal partners in a business retailing luxury motor vehicles. Norman has informed Stephen that this will not be a problem since the two entities (PCL and Luxury Auto) are in different non-competing industries. For each of the independent situations above, and using the conceptual framework in APES 110 (Code of Ethics for Professional Accountants), answer the following questions: 1. Identify potential threat(s) to independence \\& recommend safeguards (if any) to reduce the independence threat(s) identified. 2. Provide an objective assessment of whether audit independence can beachieved