Your firm is completing its independence and compliance check in preparation for an audit of ABC Ltd for the year ending 30 Jun 2022. The following information has been noted:

1. A Junior Auditor on the engagement has revealed that his brother was recently employed as Finance Manager at ABC Ltd

2. The Audit Partner of the engagement has revealed that her husband purchased shares in ABC Ltd in Feb 2022. It is now May 2022.

3. Another business line (e.g. Corporate Finance) Partner of the firm has revealed that ABC Ltd has asked their business line to assist with the 'valuation of development assets.'

a) Identify and explain the threat to independence for each point

b) Recommend if the threat is large enough to warrant a response.

c) Recommend the appropriate action (if any) to be taken in response to each threat.