You are the audit manager in the audit firm of Arinson Audit and Partners. One of your audit clients is Abidas Sporty Corporation, a company specializing in the manufacture and supply of sporting equipment. Arinson Audit has been the only external auditor since the establishment of Abidas. As a result, you develop a close relationship with the top management of Abidas. Besides, one of your audit staff has becoming members of the finance staff association in Abidas Sporty. Explain THREE (3) weaknesses identified in the above case with regards to complying with the principles of effective audit and risk management as outlined by Malaysia Code of Corporate Governance (MCCG) (any year). (5 marks

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