Auditing
Explain each of the FIVE Fundamental Principles of the ACCA’s Code of Ethics and Conduct. (10 marks)
Using the information above, identify and explain FIVE Ethical Threats which may affect the independence of Birkbeck LLP’ financial statement audit of Sound Plc; and for each threat, explain how the auditor may respond to reduce these to an acceptable level.
For each your answer should consider: (i) Ethical Threat, (ii) Explanation, and (iii) Auditor Response.
(20 marks)