You are a director and the Chief Auditor at Allen Associates. You have been tasked with preparing financial statements for Tee Cee (Pty) Co., which provides stationary to government agencies such as offices, hospitals, and schools. The Tee Cee (Pty) is a committed customer and referee for your business. Tee Cee Co.'s Chief Finance Officer, Thomas Tebogo, intends to convert the company to a public limited company as soon as possible by listing on the BSE (Botswana Stock Exchange). As a result, he works around the clock to prepare documents and comply with BSE regulations. Mr. Tutu Alex, Tee Cee Co's Deputy Finance Officer, left to join Allen Associates. Mathews, the Chief Director of Tee Cee, insisted on Allen Associates completing the financial statement preparation as soon as possible and providing a report with minimal issues. The Director Mathews also offered you a family trip to Singapore to inspire you and finish the audit as soon as possible. He also suggested that Mr. Tutu Alex will be assigned the task of conducting a review audit of the company's financial statements because he is familiar with the company's affairs. Required: a. Describe any six threats to the independence of Allen Associates' audit of Tee Cee (Pty) Co. (12 marks) b. Explain about the protections that your company should put in place for each of the aforementioned threats. (9 Marks) According to BSE regulations, creating an audit committee is a prerequisite for listing. Therefore, Tee Cee is asking you for guidance on this matter. Required: c. Inform Tee Cee Co. of the advantages of forming an audit committee. (4 marks)