This project will explore the Auditing process that you will follow to complete the Audit successfully. Research and select an organisation that you are familiar with and is willing to assist you in this project. You have been appointed as the Auditor for a major Auditing firm and need to audit the selected organisation. Students may need to make assumptions during this process and when responding to the questions. These assumptions must be stated and qualified. Answer ALL the questions in this section. Question 1 1.1 Summarise in a tabular format the nature of the business with the following as a minimum: (5 marks) 1. Name and type of the business? 2. The value proposition of the business? 3. Target market \& customers? 4. Size of the business in terms of Annual turnover? 5. Size of the business in terms of number of employees? 1.2 Summarise and discuss the different inputs into the Public Interest Score (PIS) for the selected (8 marks) organisation? The table below can be used to provide your response. 1.3 Using the table in the previous section, calculate the PIS for the selected organisation and (7 marks) determine the financial reporting standards that the selected company must adopt and justify why based on the Companies Act No. 71 of 2008 (New Companies Act) commenced on 1 May 2011