Geller and Patel CPAs (G&P) is a two-partner firm based in Edmonton. Jack, the audit partner at G&P, has been approached by Wen, a trustee of a local charity. Wen would like Jack to perform an audit engagement for the charity, which is called Breaktime. Breaktime provides services for veterans and their spouses and has two trustees, in addition to Wen, who oversee the charity.

In addition to the role of auditor, Breaktime requires someone from G&P to act as a trustee and also needs the firm's help with the financial management of the charity. These requests are troubling to Jack, as he sees a number of conflicts of interest arising if the firm accepts all of Wen's requests. Jack does not want to turn these opportunities down, as Wen has introduced a number of clients in the past and could do so in the future. 

Required:
Highlight the engagement risks for G&P related to accepting Breaktime as a new audit client by discussing the four factors that must be considered in such a decision and conclude on whether G&P can accept all three engagements.