Shine Media Pty Ltd is a media company that works with up and coming talent and play
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Question:
Shine Media Pty Ltd is a media company that works with up and coming talent and play a huge part in launching these talents careers. Anna and Jack own Shine Media and are close friends with Linda who is an audit partner at Moss Partners. Anna and Jack approach Linda to take on the audit for Shine Media for the 2023 financial year. Linda's niece Jessica is also currently a client of Shine Media Pty Ltd.
Required:
1. Identify the 2 main threats to independence for Moss Partners in accepting the audit of Shine Media. Explain why this is a threat.
2. Explain any relevant and practical safeguards that Moss Partners could implement to reduce the threats identified above.
3. Should Moss Partners accept or decline this engagement and why?
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