Question: Question 1 Howath & Co (Howath) has tendered for the external audit of Abadi Sdn. Bhd. (Abadi). Howath has proposed a fee which is less

Question 1 Howath & Co (Howath) has tendered for the external

Question 1 Howath & Co (Howath) has tendered for the external audit of Abadi Sdn. Bhd. (Abadi). Howath has proposed a fee which is less than the market rate in the hope that the firm will subsequently be awarded with more advisory work and lucrative tax consultation for Abadi. Identify and explain the ethical issues posed by Howath's proposal. (4 marks)

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