Hi, I need solution for the two questions below:

You are a graduate working for W&S Partners, an Australian accounting firm with offices located in each of the major cities. W&S Partners has just won the 31 December 2016 statutory audit for Cloud 9 Pty Ltd (Cloud 9). The audit team assigned to this client is:

Partner, Jo Wadley

Audit Manager, Sharon Gallagher

Audit Seniors, Josh Thomas and Suzie Pickering

IT Audit Manager, Mark Batten

Graduates, Ian Harper and you.

As a part of the risk assessment phase for the new audit, the audit team needs to gain an understanding of Cloud 9's structure and its business environment. By understanding the client's business, the audit team can identify potential risks that may have a significant effect on the financial

report. This will assist the team complete the audit.

a)Are the client's operations affected significantly by local or foreign legislation?

b)What new laws and regulations recently enacted (or pending) may have significant effects on the company?