Before your firm accepts any additional ongoing engagements, for example, new audits, the partners meet to decide on whether the engagement should be accepted. The firm is mindful of the requirements to conduct preliminary engagement activities including, compliance with ISA $220$ Quality Management for an Audit of Financial Information. The following prospective audit clients are being evaluated. Your firm has seven partners and a diverse portfolio of clients ranging from small business entities to medium$-$sized companies. None of its existing audit clients is a listed company. $1.$ Guptique $($Pty$)$ Ltd$,$ a company which sells equipment to the mining industries, has approached your firm with an offer to take over the audit of the company. A significant amount of additional non$-$audit work has also been promised. Two of the five shareholders of the company, who are also executive directors, were recently alleged to have been involved in tender fraud, but nothing has been proved. They have both denied any involvement. The current auditors have indicated their intention to not make themselves available for reappointment.