Question: Question 1 (15 Marks) For each situation below identify and explain the threat and one fundamental principle that is comprised. - An auditor has shares

Question 1 (15 Marks) For each situation below identify and explain the threat and one fundamental principle that is comprised. - An auditor has shares in a company which is an audit client of theirs. - An accountant has compiled the financial statements for a client and was requested to also audit the statements. - The financial director of Baboo Ltd is very aggressive and dismissive of the audit function and audit team - A chartered accountant values a clients shares and then leads the negotiations on the sale of the clients company - The chartered accountant fails to report a fraud of a client because the perpetrator is a close friend and he is sympathetic to the interest of his friend

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