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How to set out the main safeguards

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Reference no: EM132571379

Your firm is the auditor of Happy Days, an entity which provides hospitality packages at racecourses around a single country. The managing director of Happy Days has suggested the following to your managing partner:

i. All members of the audit team to be offered two free tickets to a major event at the racecourse of their choice,

ii. last year's audit senior should be seconded to the organization for a six-month period. The current year's audit is not yet underway,

iii. the firm also provide internal audit services.

Required:

Question 1: Discuss, if any of the above proposals would be acceptable to your firm and (if not state why not), and set out the main safeguards, if any, which would be required.

Reference no: EM132571379

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