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1. If an audit firm(medium sized)becomes dependent on audit client(multinational) whose fees is more than 15% of total income.What are the professional issues could arise?
2.In assessing professional and ethical what can one consider?
whereby the company was not listed and the audit partner has not been rotated (auditing for more than 7 yrs)How many marks (and I would really like the question exam reference so I can appreciate the context of the question)
Please give me an exam reference eg (March 2016)
Just off the top of my head with no real depth of thought behind it, you could always include independence and familiarity and possibly also intimidation
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