Please Please answer the question, URGENT

Identify and explain the threats to independence and objectivity in each of the two independent situation and provide safeguard(s) to address the threats.

(a) BBMB Bank Bhd (BBMB) is the audit client of Moh & Co, a public accounting firm. BBMB has granted a house loan of RM 1 million to Datuk Tony Ong, the audit partner of Moh & Co.in charge of BBMBs financial statements audit. (3 marks)

(b) Your firm has recently been appointed as external auditor of Flux Sdn Bhd (Flux). Flux owns a number of luxury hotel resorts throughout Malaysia. Fluxs finance director has suggested that the planning meeting for the forthcoming audit is held at one of Fluxs resorts. He also requested that audit to be completed as soon as possible. As an incentive, he suggested that the members of the audit team and Fluxs finance department stay at the resort for six nights, at Fluxs expense, to establish a better work relation. (4 marks)

The MIA by laws (on Professional Ethics ,Conduct and Practice) identifies circumstances where an auditor is or may be required to disclose, to third parties, confidential information obtained during the course of an external audit.

Required: Describe the circumstances in which the disclosure of confidential information, without the clients permission, is or may be required. (4 marks)