QUESTION 15 8 points Save Answer Scenario: You have been asked by your audit client Blue Lagoon Ltd to prepare a report that analyses the potential acquisition of Bluewater Pty Ltd. As a part of your analysis, you decided to verify the accuracy and completeness of Bluewater's most recent cash flow statement. After reviewing a draft of your preliminary analysis, the Chief Financial Officer (CFO) of Blue Lagoon, James Simmons, has asked you to focus your attention on Bluewater's sales and profitability and to avoid the distraction of cash flow reporting. He suggests that the acquisition will provide substantial future financial benefits to Blue Lagoon and that confusing the board with cash flow issues would not be helpful to the acquisition or to the likelihood of you being asked to undertake similar engagements in the future. This question includes Part A, B and C. Part A Identify and explain 2 (two) professional threats to Independence. (8 Marks) For the toolbar press ALTAF10 (PC) or ALTEN+F10 (Mac)