Question 3 (4+4+6=14 marks) Part A You are the audit senior at Best Accountants and are conducting the audit of Revglow Ltd for the year ended 30 June 2021. The audit assistant, Tanya Robinson, has just completed testing of the depreciation of property, plant and equipment (PPE). An extract from her audit working papers is as follows: Profit before tax $2,737,000 Property, plant and $16,564,000 equipment In testing depreciation, Tanya selected a sample of 35 items with a value of $1,672,000. She established a tolerable error 5% of base values. The results of the tests showed systematic errors in the sample of $72,400. Based on the results, Tanya has concluded that this is an acceptable error and no further work is required. Required: My and MMO (2) reasons why Tanya's conclusion is incorrect. (2 reasons*2= 4 marks) Part B Great Accounting Partners (GAP) is a mid-size audit firm. It has built up its audit work over the last eight years. During the last eight years, GAP has obtained new clients each year and many of its existing clients have grown. GAP has clients in many industries, but none of its clients are in the financial industry. At this month's planning meeting, the audit partners will consider whether they will tender for audit work for a potential new client that is operating in a financial industry. Required: Explain whether GAP Partners should tender for the audit work for the potential new client. (4 marks)