Your firm has been appointed as company auditor for Bernard Berhad since year 2018. The audit fieldwork for financial year ended 31 December 2020 was completed on 31 March 2021. The audited financial statements and signed audit report were issued and submitted to Securities Commission on 7 April 2021. The following items were discovered during the audit:
1. On 23 December 2020, Bernard Berhad declared an ordinary share dividend of 1,000 shares with a par value of RM1,000,000 of its ordinary shares. The dividend is expected to be paid on 1 February 2021 to the ordinary shareholders as at 31 December 2020.

2. Local newspapers reported on a significant explosion at one of the company's operations on 28 February 2021, injuring ten people.

3. On 19 March 2021, you have found that a debtor of Bernard Berhad had gone bankrupt on 2 January 2021, because of worsening financial health during the Covid19 pandemic. The customer has large amount of outstanding balance as at 31 December 2020.

4. The auditor discovered on 29 March 2021, that one of the key customers had gone bankrupt on 11 March 2021, due to an unexpected loss of a major lawsuit. The sales took place on 5 January 2021.
 

Required:
In each of the situations above, state from the following the appropriate action and justify your answers:
i. Adjust the 31 December 2020, financial statements.
ii. Disclose the information in notes to the accounts in the 31 December 2020, financial statements.
iii. Request the client revise and reissue the 31 December 2020, financial statements. The revision should involve an adjustment to the 31 December 2020, financial statements