Please help with Question 3

Question 2 Assess the ethical issues in relation to the Board of Director's request and recommend appropriate safeguards and/or actions you should take. (12 marks) Question 3 Analyse the fundamental characteristics for each potential client described above. Explain one (1) characteristic specific to each entity and one (1) corresponding management assertion that you will be most concerned with if you are the statutory auditor of that entity. Refer to paragraph A125 of SSA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment for the various assertions made by management in the financial statements. (12 marks) Question 2 Assess the ethical issues in relation to the Board of Director's request and recommend appropriate safeguards and/or actions you should take. (12 marks) SECTION A You are an audit manager of AWP LLP. Your firm has been the auditor of Angelica Pte Ltd (Angelica) for the past three annual audits. Angelica is a sizeable Singapore-incorporated company that specialises in distribution and retail of medicinal herbs and spices in Singapore, Malaysia and Indonesia The Board of Directors of Angelica has some concerns on the non-recording of certain operational expenses and the loss of revenue in some outlets. The Board requests your firm to provide internal audit Services with the objective of addressing these concerns and recommending improvements to improve the relevant controls. e of add. Bourd recording or Question 2 Assess the ethical issues in relation to the Board of Director's request and recommend appropriate safeguards and/or actions you should take. (12 marks) Question 3 Analyse the fundamental characteristics for each potential client described above. Explain one (1) characteristic specific to each entity and one (1) corresponding management assertion that you will be most concerned with if you are the statutory auditor of that entity. Refer to paragraph A125 of SSA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment for the various assertions made by management in the financial statements. (12 marks) Question 2 Assess the ethical issues in relation to the Board of Director's request and recommend appropriate safeguards and/or actions you should take. (12 marks) SECTION A You are an audit manager of AWP LLP. Your firm has been the auditor of Angelica Pte Ltd (Angelica) for the past three annual audits. Angelica is a sizeable Singapore-incorporated company that specialises in distribution and retail of medicinal herbs and spices in Singapore, Malaysia and Indonesia The Board of Directors of Angelica has some concerns on the non-recording of certain operational expenses and the loss of revenue in some outlets. The Board requests your firm to provide internal audit Services with the objective of addressing these concerns and recommending improvements to improve the relevant controls. e of add. Bourd recording or